IMAX’s (IMAX) Buy Rating Reiterated at Benchmark

Benchmark reiterated their buy rating on shares of IMAX (NYSE:IMAX) in a report issued on Friday,Benzinga reports. The firm currently has a $30.00 price target on the stock.

Several other equities analysts have also recently commented on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $28.00 price objective on shares of IMAX in a research note on Thursday, October 31st. StockNews.com upgraded shares of IMAX from a “hold” rating to a “buy” rating in a research report on Thursday, January 2nd. Wedbush reiterated an “outperform” rating on shares of IMAX in a research report on Wednesday, November 27th. JPMorgan Chase & Co. boosted their target price on IMAX from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Finally, Roth Mkm upped their target price on IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. One investment analyst has 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. Based on data from MarketBeat.com, IMAX presently has an average rating of “Buy” and an average price target of $27.38.

IMAX Price Performance

Shares of IMAX stock opened at $23.12 on Friday. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 52.55, a PEG ratio of 1.69 and a beta of 1.24. The company’s fifty day simple moving average is $25.03 and its two-hundred day simple moving average is $21.70. IMAX has a 1 year low of $13.20 and a 1 year high of $26.84.

IMAX (NYSE:IMAX) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.12. The company had revenue of $91.50 million for the quarter, compared to analyst estimates of $93.71 million. IMAX had a return on equity of 7.53% and a net margin of 6.74%. The firm’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.27 EPS. Equities research analysts anticipate that IMAX will post 0.77 EPS for the current year.

Insider Transactions at IMAX

In other news, EVP Robert D. Lister sold 55,910 shares of IMAX stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $25.50, for a total value of $1,425,705.00. Following the transaction, the executive vice president now owns 138,889 shares in the company, valued at approximately $3,541,669.50. The trade was a 28.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kenneth Ian Weissman sold 6,309 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $25.51, for a total value of $160,942.59. Following the sale, the insider now owns 25,139 shares of the company’s stock, 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 three months, insiders sold 65,176 shares of company stock worth $1,662,110. 24.08% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On IMAX

Large investors have recently bought and sold shares of the stock. Huntington National Bank bought a new position in shares of IMAX in the third quarter worth approximately $34,000. Headlands Technologies LLC purchased a new stake in IMAX during the 2nd quarter valued at $35,000. Quarry LP grew its holdings in IMAX by 78,333.3% in the 3rd quarter. Quarry LP now owns 2,353 shares of the company’s stock worth $48,000 after acquiring an additional 2,350 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of IMAX in the third quarter valued at about $70,000. Finally, US Bancorp DE raised its stake in shares of IMAX by 23.4% during the third quarter. US Bancorp DE now owns 7,656 shares of the company’s stock valued at $157,000 after acquiring an additional 1,452 shares during the last quarter. 93.51% of the stock is 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.