Brokerages Set IMAX Co. (NYSE:IMAX) Price Target at $25.11

Shares of IMAX Co. (NYSE:IMAX) have been assigned an average rating of “Moderate Buy” from the ten ratings firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $25.11.

IMAX has been the topic of several research analyst reports. StockNews.com cut shares of IMAX from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Benchmark upped their price target on IMAX from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Wedbush restated an “outperform” rating on shares of IMAX in a research note on Wednesday, November 27th. Roth Mkm lifted their target price on IMAX from $27.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Barrington Research restated an “outperform” rating and set a $24.00 price target on shares of IMAX in a research report on Thursday, October 31st.

Insider Activity

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

Institutional Investors Weigh In On IMAX

A number of large investors have recently made changes to their positions in the company. Victory Capital Management Inc. grew its position in IMAX by 33.1% during the 2nd quarter. Victory Capital Management Inc. now owns 1,293,221 shares of the company’s stock worth $21,687,000 after purchasing an additional 321,506 shares in the last quarter. Mizuho Markets Americas LLC boosted its position in shares of IMAX by 47.5% in the third quarter. Mizuho Markets Americas LLC now owns 387,689 shares of the company’s stock worth $7,952,000 after buying an additional 124,811 shares during the period. American Century Companies Inc. grew its holdings in shares of IMAX by 57.0% during the second quarter. American Century Companies Inc. now owns 120,021 shares of the company’s stock valued at $2,013,000 after buying an additional 43,584 shares in the last quarter. Bank of New York Mellon Corp raised its position in IMAX by 90.6% during the second quarter. Bank of New York Mellon Corp now owns 587,694 shares of the company’s stock valued at $9,856,000 after buying an additional 279,410 shares during the period. Finally, Foundry Partners LLC lifted its stake in IMAX by 46.8% in the 2nd quarter. Foundry Partners LLC now owns 182,200 shares of the company’s stock worth $3,055,000 after acquiring an additional 58,115 shares in the last quarter. Institutional investors and hedge funds own 93.51% of the company’s stock.

IMAX Stock Up 0.5 %

IMAX stock opened at $25.31 on Friday. The stock’s 50 day moving average is $23.75 and its two-hundred day moving average is $20.60. IMAX has a 52-week low of $13.20 and a 52-week high of $26.84. The company has a market capitalization of $1.33 billion, a PE ratio of 57.52, a P/E/G ratio of 1.69 and a beta of 1.23.

IMAX (NYSE:IMAX) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.12. The business had revenue of $91.50 million during the quarter, compared to analyst estimates of $93.71 million. IMAX had a net margin of 6.74% and a return on equity of 7.53%. The business’s revenue was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.27 earnings per share. As a group, sell-side analysts anticipate that IMAX will post 0.77 EPS for the current year.

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.