IMAX (NYSE:IMAX) Price Target Increased to $28.00 by Analysts at Rosenblatt Securities

IMAX (NYSE:IMAX) had its target price upped by Rosenblatt Securities from $25.00 to $28.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts also recently issued research reports about the company. Macquarie upped their price target on IMAX from $24.00 to $26.00 and gave the stock an outperform rating in a report on Friday. Benchmark restated a buy rating and set a $22.00 price target on shares of IMAX in a report on Thursday, June 20th. Seaport Res Ptn upgraded IMAX to a strong-buy rating in a report on Wednesday, July 24th. Roth Mkm upped their price target on IMAX from $22.00 to $23.00 and gave the stock a buy rating in a report on Thursday, July 18th. Finally, Barrington Research restated an outperform rating and set a $25.00 price target on shares of IMAX in a report on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $23.56.

IMAX Trading Down 0.9 %

IMAX opened at $19.90 on Friday. The stock’s 50-day moving average price is $16.81 and its 200 day moving average price is $16.18. IMAX has a 12-month low of $13.20 and a 12-month high of $20.77. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 41.46, a PEG ratio of 1.80 and a beta of 1.26.

IMAX (NYSE:IMAX) last posted its earnings results on Thursday, July 25th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.11. IMAX had a return on equity of 7.78% and a net margin of 5.97%. The firm had revenue of $88.96 million for the quarter, compared to analyst estimates of $74.52 million. During the same quarter in the prior year, the company earned $0.17 EPS. IMAX’s revenue was down 9.2% on a year-over-year basis. On average, research analysts forecast that IMAX will post 0.56 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in IMAX. Private Capital Management LLC grew its stake in IMAX by 54.3% during the 4th quarter. Private Capital Management LLC now owns 1,185,715 shares of the company’s stock worth $17,809,000 after buying an additional 417,169 shares during the last quarter. Kodai Capital Management LP purchased a new position in IMAX during the 4th quarter worth approximately $5,287,000. Acadian Asset Management LLC grew its stake in IMAX by 178.7% during the 1st quarter. Acadian Asset Management LLC now owns 490,917 shares of the company’s stock worth $7,934,000 after buying an additional 314,742 shares during the last quarter. Bank of New York Mellon Corp grew its stake in IMAX by 90.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 587,694 shares of the company’s stock worth $9,856,000 after buying an additional 279,410 shares during the last quarter. Finally, Pembroke Management LTD grew its stake in IMAX by 52.2% during the 1st quarter. Pembroke Management LTD now owns 351,113 shares of the company’s stock worth $5,677,000 after buying an additional 120,495 shares during the last quarter. 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.