IMAX (NYSE:IMAX) Given New $30.00 Price Target at Macquarie

IMAX (NYSE:IMAX) had its price objective raised by Macquarie from $28.00 to $30.00 in a research report report published on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Other analysts have also recently issued research reports about the company. Barrington Research increased their target price on IMAX from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday. Benchmark reaffirmed a “buy” rating and set a $30.00 price objective on shares of IMAX in a research report on Thursday. StockNews.com downgraded shares of IMAX from a “buy” rating to a “hold” rating in a report on Thursday, February 13th. Roth Mkm raised their price target on shares of IMAX from $27.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Wedbush reiterated an “outperform” rating and set a $32.00 price objective on shares of IMAX in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, IMAX has an average rating of “Moderate Buy” and an average price target of $30.44.

IMAX Price Performance

IMAX stock opened at $26.90 on Thursday. IMAX has a 1-year low of $14.94 and a 1-year high of $27.38. The business has a 50-day moving average price of $24.65 and a 200 day moving average price of $22.96. The company has a market capitalization of $1.42 billion, a P/E ratio of 54.90, a PEG ratio of 1.50 and a beta of 1.22.

IMAX (NYSE:IMAX) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.14). IMAX had a net margin of 7.40% and a return on equity of 8.79%. The business had revenue of $92.67 million during the quarter, compared to the consensus estimate of $104.08 million. On average, analysts anticipate that IMAX will post 0.91 earnings per share for the current fiscal year.

Insider Transactions at IMAX

In other IMAX news, CFO Natasha Fernandes sold 2,957 shares of the company’s stock in a transaction on Monday, December 9th. The shares were 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 of the company’s stock, valued at approximately $379,814.16. This represents a 16.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert D. Lister sold 55,910 shares of IMAX stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $25.50, for a total value of $1,425,705.00. Following the transaction, the executive vice president now owns 138,889 shares of the company’s stock, valued at $3,541,669.50. The trade was a 28.70 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,176 shares of company stock worth $1,662,110. Company insiders own 24.08% of the company’s stock.

Institutional Trading of IMAX

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mizuho Markets Americas LLC boosted its position in IMAX by 47.5% in the 3rd quarter. Mizuho Markets Americas LLC now owns 387,689 shares of the company’s stock worth $7,952,000 after purchasing an additional 124,811 shares in the last quarter. Royce & Associates LP boosted its holdings in IMAX by 3.1% during the third quarter. Royce & Associates LP now owns 1,822,616 shares of the company’s stock worth $37,382,000 after buying an additional 54,850 shares in the last quarter. Quantbot Technologies LP acquired a new stake in IMAX during the third quarter valued at $777,000. Lord Abbett & CO. LLC acquired a new position in shares of IMAX in the third quarter worth about $6,322,000. Finally, SG Americas Securities LLC purchased a new stake in shares of IMAX during the 4th quarter worth about $333,000. 93.51% of the stock is owned by institutional investors and hedge funds.

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.