IMAX Co. (NYSE:IMAX) Receives Average Rating of “Buy” from Brokerages

Shares of IMAX Co. (NYSE:IMAX) have been assigned an average rating of “Buy” from the ten ratings firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $30.67.

IMAX has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their price target on IMAX from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday, February 21st. Benchmark reaffirmed a “buy” rating and set a $30.00 price objective on shares of IMAX in a research note on Thursday, February 20th. Roth Mkm raised their price target on shares of IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Wells Fargo & Company boosted their price objective on shares of IMAX from $26.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Finally, Rosenblatt Securities increased their target price on IMAX from $28.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th.

IMAX Stock Down 1.5 %

IMAX stock opened at $25.32 on Friday. The company has a market capitalization of $1.34 billion, a P/E ratio of 51.66, a PEG ratio of 1.49 and a beta of 1.22. The company has a 50-day simple moving average of $24.72 and a 200 day simple moving average of $23.16. IMAX has a fifty-two week low of $14.94 and a fifty-two week high of $27.77.

IMAX (NYSE:IMAX) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.14). The firm had revenue of $92.67 million for the quarter, compared to analysts’ expectations of $104.08 million. IMAX had a return on equity of 8.60% and a net margin of 7.40%. Equities analysts anticipate that IMAX will post 0.91 EPS for the current year.

Insider Transactions at IMAX

In other news, CFO Natasha Fernandes sold 2,957 shares of IMAX stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $25.52, for a total value of $75,462.64. Following the sale, the chief financial officer now directly owns 14,883 shares in the company, valued at approximately $379,814.16. This trade represents a 16.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kenneth Ian Weissman sold 6,309 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $25.51, for a total transaction of $160,942.59. Following the transaction, the insider now directly owns 25,139 shares in the company, valued at approximately $641,295.89. The trade was a 20.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,176 shares of company stock valued at $1,662,110. 24.08% of the stock is owned by corporate insiders.

Institutional Trading of IMAX

Large investors have recently made changes to their positions in the stock. FMR LLC boosted its position in shares of IMAX by 14.2% in the fourth quarter. FMR LLC now owns 4,508,583 shares of the company’s stock worth $115,420,000 after purchasing an additional 558,940 shares during the period. Ameriprise Financial Inc. lifted its stake in IMAX by 36.9% in the fourth quarter. Ameriprise Financial Inc. now owns 1,823,516 shares of the company’s stock worth $46,671,000 after acquiring an additional 491,172 shares during the period. Royce & Associates LP grew its stake in IMAX by 3.1% in the third 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 last quarter. Victory Capital Management Inc. lifted its holdings in shares of IMAX by 9.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,420,592 shares of the company’s stock valued at $29,136,000 after purchasing an additional 127,371 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in IMAX by 45.4% during the 4th quarter. Wells Fargo & Company MN now owns 624,510 shares of the company’s stock worth $15,987,000 after acquiring an additional 194,917 shares during the period. 93.51% of the stock is currently owned by institutional investors.

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.