IMAX’s (IMAX) Buy Rating Reaffirmed at Benchmark

IMAX (NYSE:IMAX)‘s stock had its “buy” rating reaffirmed by stock analysts at Benchmark in a research report issued on Thursday,Benzinga reports. They presently have a $30.00 price target on the stock. Benchmark’s target price points to a potential upside of 15.27% from the stock’s current price.

Several other equities research analysts have also commented on the stock. Wells Fargo & Company increased their price objective on shares of IMAX from $26.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday. Barrington Research increased their target price on shares of IMAX from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday. StockNews.com downgraded shares of IMAX from a “buy” rating to a “hold” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. increased their target price on shares of IMAX from $21.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Finally, Rosenblatt Securities increased their target price on shares of IMAX from $28.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday. Two research 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $30.67.

IMAX Stock Performance

NYSE:IMAX opened at $26.03 on Thursday. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 53.11, a price-to-earnings-growth ratio of 1.50 and a beta of 1.22. IMAX has a 52 week low of $14.94 and a 52 week high of $27.77. The firm has a 50-day moving average price of $24.65 and a two-hundred day moving average price of $23.00.

IMAX (NYSE:IMAX) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.14). The firm had revenue of $92.67 million during the quarter, compared to analysts’ expectations of $104.08 million. IMAX had a net margin of 7.40% and a return on equity of 8.79%. As a group, sell-side analysts forecast that IMAX will post 0.91 earnings per share for the current year.

Insider Buying and Selling

In other IMAX news, EVP Robert D. Lister sold 55,910 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $25.50, for a total value of $1,425,705.00. Following the sale, the executive vice president now directly owns 138,889 shares in the company, valued at $3,541,669.50. This represents a 28.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kenneth Ian Weissman sold 6,309 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $25.51, for a total transaction of $160,942.59. Following the completion of the sale, the insider now owns 25,139 shares in the company, valued at $641,295.89. This represents a 20.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 65,176 shares of company stock valued at $1,662,110. Company insiders own 24.08% of the company’s stock.

Institutional Trading of IMAX

Institutional investors and hedge funds have recently bought and sold shares of the company. Mizuho Markets Americas LLC lifted its stake in IMAX by 47.5% in the 3rd quarter. Mizuho Markets Americas LLC now owns 387,689 shares of the company’s stock worth $7,952,000 after purchasing an additional 124,811 shares in the last quarter. Royce & Associates LP lifted its holdings in shares of IMAX by 3.1% during the 3rd quarter. Royce & Associates LP now owns 1,822,616 shares of the company’s stock worth $37,382,000 after acquiring an additional 54,850 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of IMAX during the 3rd quarter worth $777,000. Lord Abbett & CO. LLC bought a new stake in shares of IMAX during the 3rd quarter worth $6,322,000. Finally, Savant Capital LLC bought a new stake in shares of IMAX during the 4th quarter worth $249,000. 93.51% of the stock is currently owned by hedge funds and other 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.