IMAX (NYSE:IMAX) Price Target Raised to $32.00

IMAX (NYSE:IMAX) had its price target increased by Barrington Research from $30.00 to $32.00 in a research report report published on Thursday morning,Benzinga reports. Barrington Research currently has an outperform rating on the stock.

A number of other equities research analysts have also issued reports on IMAX. JPMorgan Chase & Co. upped their target price on shares of IMAX from $21.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Roth Mkm increased their target price on IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. StockNews.com downgraded IMAX from a “buy” rating to a “hold” rating in a report on Thursday, February 13th. Wedbush restated an “outperform” rating and set a $32.00 price objective on shares of IMAX in a research note on Wednesday, February 12th. Finally, Benchmark reiterated a “buy” rating and set a $30.00 target price on shares of IMAX in a research note on Friday, January 17th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $30.67.

IMAX Stock Performance

Shares of IMAX opened at $26.03 on Thursday. IMAX has a one year low of $14.94 and a one year high of $27.77. The stock has a 50-day moving average price of $24.65 and a 200 day moving average price of $23.01. The company has a market capitalization of $1.38 billion, a P/E ratio of 53.11, a P/E/G ratio of 1.49 and a beta of 1.22.

IMAX (NYSE:IMAX) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.14). The company had revenue of $92.67 million for the quarter, compared to analyst estimates of $104.08 million. IMAX had a return on equity of 8.60% and a net margin of 7.40%. As a group, equities research analysts forecast 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 IMAX stock in a transaction on Monday, December 9th. The stock was sold at an average price of $25.52, for a total transaction of $75,462.64. Following the sale, the chief financial officer now owns 14,883 shares of the company’s stock, valued at $379,814.16. The trade was a 16.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kenneth Ian Weissman sold 6,309 shares of the stock in a transaction 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 transaction, the insider now directly owns 25,139 shares of the company’s stock, valued at approximately $641,295.89. The trade was a 20.06 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 65,176 shares of company stock worth $1,662,110. Insiders own 24.08% of the company’s stock.

Institutional Investors Weigh In On IMAX

Several institutional investors have recently bought and sold shares of the stock. FMR LLC raised its position in shares of IMAX by 108.4% during the 3rd quarter. FMR LLC now owns 3,949,643 shares of the company’s stock worth $81,007,000 after buying an additional 2,054,031 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in IMAX by 36.9% during the fourth quarter. Ameriprise Financial Inc. now owns 1,823,516 shares of the company’s stock worth $46,671,000 after purchasing an additional 491,172 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in IMAX in the fourth quarter worth approximately $9,143,000. Lord Abbett & CO. LLC bought a new position in IMAX during the 3rd quarter valued at $6,322,000. Finally, Pier Capital LLC increased its position in shares of IMAX by 132.6% during the 4th quarter. Pier Capital LLC now owns 478,760 shares of the company’s stock valued at $12,256,000 after purchasing an additional 272,949 shares during the period. Institutional investors and hedge funds own 93.51% of the company’s stock.

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.