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

IMAX Co. (NYSE:IMAX) has received an average rating of “Buy” from the nine analysts that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $27.38.

A number of research firms recently issued reports on IMAX. Wedbush reissued an “outperform” rating on shares of IMAX in a report on Wednesday, November 27th. Rosenblatt Securities reissued a “buy” rating and issued a $28.00 target price on shares of IMAX in a report on Thursday, October 31st. StockNews.com downgraded IMAX from a “buy” rating to a “hold” rating in a report on Tuesday. Barrington Research reissued an “outperform” rating and issued a $30.00 price objective on shares of IMAX in a research note on Friday, January 10th. Finally, Roth Mkm raised their target price 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.

IMAX Trading Down 1.0 %

Shares of NYSE IMAX opened at $22.80 on Thursday. The stock has a market cap of $1.20 billion, a P/E ratio of 51.82, a P/E/G ratio of 1.25 and a beta of 1.24. The stock has a 50 day moving average of $24.98 and a two-hundred day moving average of $21.78. IMAX has a twelve month low of $13.20 and a twelve month high of $26.84.

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

Insider Activity at IMAX

In related news, insider Kenneth Ian Weissman sold 6,309 shares of IMAX stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $25.51, for a total transaction 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 trade represents a 20.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Natasha Fernandes sold 2,957 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $25.52, for a total transaction of $75,462.64. Following the completion of the transaction, the chief financial officer now owns 14,883 shares in the company, valued at approximately $379,814.16. This trade represents a 16.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 65,176 shares of company stock worth $1,662,110 over the last 90 days. Company insiders own 24.08% of the company’s stock.

Hedge Funds Weigh In On IMAX

Institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC raised its holdings in IMAX by 108.4% in the 3rd quarter. FMR LLC now owns 3,949,643 shares of the company’s stock valued at $81,007,000 after acquiring an additional 2,054,031 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of IMAX by 33.1% in the second quarter. Victory Capital Management Inc. now owns 1,293,221 shares of the company’s stock valued at $21,687,000 after purchasing an additional 321,506 shares during the period. Lord Abbett & CO. LLC purchased a new position in IMAX during the third quarter worth about $6,322,000. Castleark Management LLC purchased a new position in IMAX during the third quarter worth about $5,199,000. Finally, Pier Capital LLC acquired a new stake in IMAX in the 3rd quarter worth about $4,221,000. 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.