Brokerages Set IMAX Co. (NYSE:IMAX) Target Price at $20.57

IMAX Co. (NYSE:IMAXGet Free Report) has been given an average rating of “Moderate Buy” by the seven analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $20.57.

IMAX has been the subject of a number of recent analyst reports. Wedbush reiterated an “outperform” rating and issued a $22.00 price target on shares of IMAX in a research note on Friday, April 26th. JPMorgan Chase & Co. cut their price objective on IMAX from $20.00 to $17.00 and set a “neutral” rating for the company in a research report on Tuesday, February 6th. Barrington Research reissued an “outperform” rating and set a $24.00 target price on shares of IMAX in a report on Monday, April 22nd. Benchmark reaffirmed a “buy” rating and set a $22.00 price target on shares of IMAX in a report on Friday, April 26th. Finally, Rosenblatt Securities decreased their price objective on shares of IMAX from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, February 13th.

Get Our Latest Report on IMAX

IMAX Stock Performance

NYSE IMAX opened at $16.44 on Wednesday. IMAX has a 52 week low of $13.20 and a 52 week high of $20.70. The stock’s 50 day moving average price is $16.67 and its two-hundred day moving average price is $15.84. The stock has a market capitalization of $865.07 million, a price-to-earnings ratio of 34.25, a PEG ratio of 1.36 and a beta of 1.22.

IMAX (NYSE:IMAXGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.05. The business had revenue of $79.12 million for the quarter, compared to analyst estimates of $77.88 million. IMAX had a net margin of 7.13% and a return on equity of 9.47%. On average, equities research analysts forecast that IMAX will post 0.6 EPS for the current year.

Insiders Place Their Bets

In related news, VP Robert D. Lister sold 25,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $16.87, for a total value of $421,750.00. Following the transaction, the vice president now directly owns 138,889 shares in the company, valued at $2,343,057.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other IMAX news, EVP Calamera Pablo sold 6,130 shares of the firm’s 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 owns 42,269 shares in the company, valued at approximately $720,686.45. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Robert D. Lister sold 25,000 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $16.87, for a total value of $421,750.00. Following the sale, the vice president now owns 138,889 shares of the company’s stock, valued at $2,343,057.43. The disclosure for this sale can be found here. Company insiders own 24.08% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. acquired a new stake in IMAX during the fourth quarter worth about $33,000. Tower Research Capital LLC TRC lifted its holdings in shares of IMAX by 545.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the company’s stock worth $75,000 after acquiring an additional 4,218 shares during the period. Partnership Wealth Management LLC acquired a new stake in shares of IMAX during the 4th quarter worth approximately $111,000. C M Bidwell & Associates Ltd. bought a new position in IMAX in the third quarter valued at approximately $160,000. Finally, SG Americas Securities LLC raised its position in IMAX by 65.5% during the fourth quarter. SG Americas Securities LLC now owns 11,868 shares of the company’s stock valued at $178,000 after purchasing an additional 4,699 shares in the last quarter. Institutional investors and hedge funds own 93.51% of the company’s stock.

IMAX Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for IMAX (NYSE:IMAX)

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