IMAX (NYSE:IMAX) Receives “Outperform” Rating from Barrington Research

Barrington Research restated their outperform rating on shares of IMAX (NYSE:IMAX) in a research report report published on Friday morning,Benzinga reports. They currently have a $30.00 target price on the stock.

A number of other research firms have also recently weighed in on IMAX. Roth Mkm boosted 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. Wedbush restated an “outperform” rating on shares of IMAX in a report on Wednesday, November 27th. JPMorgan Chase & Co. increased their price target on IMAX from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. StockNews.com raised IMAX from a “hold” rating to a “buy” rating in a research note on Thursday, January 2nd. Finally, Benchmark reaffirmed a “buy” rating and issued a $30.00 price objective on shares of IMAX in a research note on Friday. One research analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, IMAX presently has an average rating of “Moderate Buy” and a consensus target price of $25.78.

IMAX Stock Performance

NYSE IMAX opened at $23.12 on Friday. The firm’s fifty day moving average price is $25.05 and its two-hundred day moving average price is $21.60. The stock has a market cap of $1.22 billion, a PE ratio of 52.55, a PEG ratio of 1.69 and a beta of 1.24. IMAX has a fifty-two week low of $13.20 and a fifty-two week high of $26.84.

IMAX (NYSE:IMAX) last posted its 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 for 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%. The company’s revenue was down 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.27 earnings per share. As a group, sell-side analysts predict that IMAX will post 0.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other IMAX news, insider Kenneth Ian Weissman sold 6,309 shares of IMAX stock in a transaction that occurred on Monday, December 9th. The stock was 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 directly owns 25,139 shares in the company, valued at approximately $641,295.89. The trade was a 20.06 % decrease in their ownership of the stock. The sale 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 business’s stock in a transaction that occurred 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 owns 14,883 shares of the company’s stock, valued at approximately $379,814.16. This represents a 16.58 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 65,176 shares of company stock worth $1,662,110. 24.08% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On IMAX

Several hedge funds and other institutional investors have recently modified their holdings of the company. Lord Abbett & CO. LLC bought a new stake in shares of IMAX during the third quarter valued at approximately $6,322,000. Public Employees Retirement System of Ohio bought a new stake in shares of IMAX during the third quarter valued at approximately $1,555,000. Pier Capital LLC bought a new stake in shares of IMAX during the third quarter valued at approximately $4,221,000. Castleark Management LLC bought a new stake in shares of IMAX during the third quarter valued at approximately $5,199,000. Finally, Systematic Financial Management LP bought a new stake in shares of IMAX during the third quarter valued at approximately $838,000. Institutional investors own 93.51% of the company’s stock.

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.