IMAX’s (IMAX) Buy Rating Reiterated at Benchmark

Benchmark reissued their buy rating on shares of IMAX (NYSE:IMAX) in a research note published on Thursday,Benzinga reports. Benchmark currently has a $30.00 price target on the stock.

A number of other equities research analysts have also weighed in on the company. Barrington Research raised their price objective on IMAX from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday. JPMorgan Chase & Co. raised their price target on shares of IMAX from $21.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Wells Fargo & Company lifted their price target on shares of IMAX from $26.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday. Rosenblatt Securities increased their price objective on shares of IMAX from $28.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Roth Mkm boosted their target price on shares of IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.67.

IMAX Trading Down 3.4 %

NYSE IMAX opened at $26.03 on Thursday. The company’s fifty day simple moving average is $24.65 and its 200-day simple moving average is $23.01. The stock has a market cap of $1.38 billion, a P/E ratio of 53.11, a PEG ratio of 1.49 and a beta of 1.22. IMAX has a 52 week low of $14.94 and a 52 week high of $27.77.

IMAX (NYSE:IMAX) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.14). The firm had revenue of $92.67 million during the quarter, compared to analyst estimates of $104.08 million. IMAX had a return on equity of 8.60% and a net margin of 7.40%. On average, research analysts expect that IMAX will post 0.91 EPS for the current fiscal year.

Insider Buying and Selling

In other IMAX news, EVP Robert D. Lister sold 55,910 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $25.50, for a total value of $1,425,705.00. Following the completion of the transaction, the executive vice president now directly owns 138,889 shares in the company, valued at $3,541,669.50. This trade represents a 28.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Natasha Fernandes sold 2,957 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $25.52, for a total transaction of $75,462.64. Following the sale, the chief financial officer now owns 14,883 shares in the company, valued at $379,814.16. This represents a 16.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 65,176 shares of company stock worth $1,662,110 in the last three months. 24.08% of the stock is currently owned by insiders.

Institutional Trading of IMAX

Hedge funds have recently modified their holdings of the business. Mizuho Markets Americas LLC raised its position in IMAX by 47.5% during the third quarter. Mizuho Markets Americas LLC now owns 387,689 shares of the company’s stock valued at $7,952,000 after buying an additional 124,811 shares during the period. Royce & Associates LP increased its holdings in shares of IMAX by 3.1% in the 3rd quarter. Royce & Associates LP now owns 1,822,616 shares of the company’s stock valued at $37,382,000 after purchasing an additional 54,850 shares during the period. Quantbot Technologies LP purchased a new stake in shares of IMAX in the third quarter worth approximately $777,000. Lord Abbett & CO. LLC acquired a new stake in shares of IMAX during the third quarter worth approximately $6,322,000. Finally, Savant Capital LLC purchased a new position in IMAX during the fourth quarter valued at approximately $249,000. Hedge funds and other institutional investors own 93.51% of the company’s stock.

About IMAX

IMAX Corporation, together with its subsidiaries, operates as a technology platform for entertainment and events worldwide. The company operates in two segments, Content Solutions and Technology Products and Services. The company offers IMAX DMR, a proprietary technology that digitally remasters films and other content into IMAX formats for distribution to the IMAX network; IMAX Enhanced that provides end-to-end technology across streaming content and entertainment devices at home; and SSIMWAVE, an AI-driven video quality solutions for media and entertainment companies.