IMAX (NYSE:IMAX) Price Target Raised to $28.00

IMAX (NYSE:IMAX) had its target price raised by Roth Mkm from $27.00 to $28.00 in a research report report published on Thursday, Benzinga reports. Roth Mkm currently has a buy rating on the stock.

Several other equities research analysts have also weighed in on IMAX. Barrington Research reissued an “outperform” rating and set a $24.00 target price on shares of IMAX in a research report on Thursday. Macquarie raised their price objective on shares of IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Seaport Res Ptn upgraded shares of IMAX to a “strong-buy” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their price target on shares of IMAX from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Finally, Wedbush upped their price objective on shares of IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $24.22.

IMAX Trading Down 1.0 %

Shares of NYSE:IMAX opened at $24.06 on Thursday. IMAX has a 52 week low of $13.20 and a 52 week high of $24.39. The company’s 50 day moving average is $20.75 and its two-hundred day moving average is $18.69. The company has a market cap of $1.27 billion, a PE ratio of 54.68, a P/E/G ratio of 1.83 and a beta of 1.22.

IMAX (NYSE:IMAX) last issued its earnings results on Wednesday, October 30th. The company reported $0.35 EPS for the quarter, topping 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 firm had revenue of $91.50 million during the quarter, compared to the consensus estimate of $93.71 million. During the same quarter in the previous year, the firm posted $0.27 earnings per share. The company’s revenue was down 11.9% compared to the same quarter last year. As a group, equities research analysts expect that IMAX will post 0.67 EPS for the current year.

Institutional Trading of IMAX

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Private Capital Management LLC increased its holdings in shares of IMAX by 10.0% in the first quarter. Private Capital Management LLC now owns 1,304,364 shares of the company’s stock valued at $21,092,000 after purchasing an additional 118,649 shares during the period. Victory Capital Management Inc. raised 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 buying an additional 321,506 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of IMAX by 5.5% in the 2nd quarter. Thrivent Financial for Lutherans now owns 819,325 shares of the company’s stock worth $13,740,000 after acquiring an additional 42,952 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of IMAX by 90.6% in 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 acquiring an additional 279,410 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of IMAX by 13.2% during the first quarter. Vanguard Group Inc. now owns 584,795 shares of the company’s stock worth $9,456,000 after acquiring an additional 68,155 shares during the period. 93.51% of the stock is owned by hedge funds and other institutional investors.

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.