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

IMAX Co. (NYSE:IMAX) has been given a consensus rating of “Buy” by the nine analysts that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $27.38.

A number of equities analysts recently commented on IMAX shares. Barrington Research reissued an “outperform” rating and issued a $30.00 price objective on shares of IMAX in a research note on Friday. Wedbush reissued an “outperform” rating on shares of IMAX in a research report on Wednesday, November 27th. StockNews.com upgraded IMAX from a “hold” rating to a “buy” rating in a research note on Thursday, January 2nd. 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, Benchmark reissued a “buy” rating and set a $30.00 price target on shares of IMAX in a research report on Friday.

Insider Activity

In other news, CFO Natasha Fernandes sold 2,957 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $25.52, for a total value of $75,462.64. Following the completion of the transaction, the chief financial officer now directly owns 14,883 shares in the company, valued at $379,814.16. This trade 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 through the SEC website. Also, insider Kenneth Ian Weissman sold 6,309 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 25,139 shares in the company, valued at approximately $641,295.89. This represents a 20.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have 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 corporate insiders.

Hedge Funds Weigh In On IMAX

Institutional investors have recently bought and sold shares of the business. US Bancorp DE grew its holdings in IMAX by 23.4% during the third quarter. US Bancorp DE now owns 7,656 shares of the company’s stock worth $157,000 after acquiring an additional 1,452 shares during the period. Huntington National Bank purchased a new stake in IMAX in the 3rd quarter worth approximately $34,000. Headlands Technologies LLC acquired a new stake in shares of IMAX during the 2nd quarter worth approximately $35,000. Quarry LP increased its holdings in shares of IMAX by 78,333.3% during the 3rd quarter. Quarry LP now owns 2,353 shares of the company’s stock valued at $48,000 after purchasing an additional 2,350 shares in the last quarter. Finally, nVerses Capital LLC acquired a new position in shares of IMAX in the 3rd quarter valued at $70,000. 93.51% of the stock is owned by hedge funds and other institutional investors.

IMAX Trading Down 1.9 %

Shares of IMAX stock opened at $23.12 on Thursday. The stock’s fifty day moving average price is $25.03 and its 200-day moving average price is $21.66. The firm has a market cap of $1.22 billion, a P/E ratio of 52.55, a P/E/G ratio of 1.69 and a beta of 1.24. IMAX has a 12 month low of $13.20 and a 12 month high of $26.84.

IMAX (NYSE:IMAX) last posted its earnings results on Wednesday, October 30th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.12. IMAX had a net margin of 6.74% and a return on equity of 7.53%. The business had revenue of $91.50 million for the quarter, compared to the consensus estimate of $93.71 million. During the same quarter last year, the firm posted $0.27 EPS. The company’s revenue for the quarter was down 11.9% on a year-over-year basis. Analysts forecast that IMAX will post 0.77 earnings per share for the current year.

IMAX Company Profile

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.