IMAX Co. (NYSE:IMAX) Given Average Rating of “Moderate Buy” by Analysts

Shares of IMAX Co. (NYSE:IMAX) have earned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $20.57.

IMAX has been the subject of several research reports. The Goldman Sachs Group reduced their target price on shares of IMAX from $15.00 to $13.00 and set a “sell” rating for the company in a research note on Thursday, January 11th. Benchmark restated a “buy” rating and set a $22.00 price target on shares of IMAX in a research note on Friday, April 26th. Rosenblatt Securities cut their price target on shares of IMAX from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, February 13th. JPMorgan Chase & Co. cut their price target on shares of IMAX from $20.00 to $17.00 and set a “neutral” rating for the company in a research note on Tuesday, February 6th. Finally, Wedbush restated an “outperform” rating and set a $22.00 price target on shares of IMAX in a research note on Friday, April 26th.

IMAX Stock Performance

NYSE IMAX opened at $16.71 on Friday. The firm has a 50-day simple moving average of $16.50 and a 200 day simple moving average of $16.03. IMAX has a twelve month low of $13.20 and a twelve month high of $20.70. The stock has a market cap of $879.02 million, a PE ratio of 34.80, a PEG ratio of 1.33 and a beta of 1.22.

IMAX (NYSE:IMAX) last released its earnings results on Thursday, April 25th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.05. IMAX had a net margin of 7.13% and a return on equity of 9.47%. The business had revenue of $79.12 million during the quarter, compared to analysts’ expectations of $77.88 million. Research analysts forecast that IMAX will post 0.61 earnings per share for the current fiscal year.

Insider Activity at IMAX

In other IMAX news, EVP Calamera Pablo sold 6,130 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $17.05, for a total value of $104,516.50. Following the transaction, the executive vice president now directly owns 42,269 shares of the company’s stock, valued at $720,686.45. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, VP Robert D. Lister sold 25,000 shares of IMAX stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $16.87, for a total transaction of $421,750.00. Following the transaction, the vice president now directly owns 138,889 shares of the company’s stock, valued at $2,343,057.43. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Calamera Pablo sold 6,130 shares of IMAX stock in a transaction on Friday, April 26th. The stock was sold at an average price of $17.05, for a total transaction of $104,516.50. Following the transaction, the executive vice president now directly owns 42,269 shares in the company, valued at $720,686.45. The disclosure for this sale can be found here. 24.33% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On IMAX

A number of hedge funds and other institutional investors have recently made changes to their positions in IMAX. SG Americas Securities LLC bought a new position in shares of IMAX during the third quarter worth $139,000. Raymond James Financial Services Advisors Inc. boosted its position in shares of IMAX by 86.5% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 24,824 shares of the company’s stock worth $480,000 after purchasing an additional 11,516 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of IMAX by 41.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,531 shares of the company’s stock worth $242,000 after purchasing an additional 3,682 shares in the last quarter. Knights of Columbus Asset Advisors LLC boosted its position in shares of IMAX by 9.7% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 227,058 shares of the company’s stock worth $4,387,000 after purchasing an additional 20,132 shares in the last quarter. Finally, Arizona State Retirement System lifted its position in IMAX by 8.9% in the 3rd quarter. Arizona State Retirement System now owns 13,212 shares of the company’s stock valued at $255,000 after acquiring an additional 1,085 shares in the last quarter. 93.51% of the stock is owned by institutional investors.

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.