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

Shares of IMAX Co. (NYSE:IMAX) have been assigned an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $20.57.

IMAX has been the topic of several analyst reports. Benchmark reiterated a “buy” rating and issued a $22.00 target price on shares of IMAX in a report on Thursday, June 20th. Rosenblatt Securities reiterated a “buy” rating and issued a $25.00 target price on shares of IMAX in a report on Monday, June 17th. Barrington Research reiterated an “outperform” rating and issued a $24.00 target price on shares of IMAX in a report on Monday, April 22nd. Finally, Wedbush reiterated an “outperform” rating and issued a $22.00 target price on shares of IMAX in a report on Friday, June 21st.

IMAX Price Performance

Shares of NYSE IMAX opened at $17.59 on Friday. The company’s 50 day simple moving average is $16.57 and its 200 day simple moving average is $15.80. IMAX has a fifty-two week low of $13.20 and a fifty-two week high of $20.70. The firm has a market capitalization of $925.59 million, a P/E ratio of 36.65, a P/E/G ratio of 1.41 and a beta of 1.21.

IMAX (NYSE:IMAX) last posted its earnings results on Thursday, April 25th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.05. The company 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%. Sell-side analysts expect that IMAX will post 0.6 EPS for the current fiscal year.

Insider Transactions at IMAX

In other news, EVP Calamera Pablo sold 6,130 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $17.05, for a total transaction of $104,516.50. Following the completion of the sale, the executive vice president now owns 42,269 shares of the company’s stock, valued at $720,686.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 24.08% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Kodai Capital Management LP bought a new position in IMAX in the fourth quarter valued at $5,287,000. Victory Capital Management Inc. grew its position in IMAX by 13.0% in the fourth quarter. Victory Capital Management Inc. now owns 825,319 shares of the company’s stock valued at $12,396,000 after purchasing an additional 95,182 shares in the last quarter. Swiss National Bank grew its position in IMAX by 8.5% in the third quarter. Swiss National Bank now owns 102,000 shares of the company’s stock valued at $1,971,000 after purchasing an additional 8,000 shares in the last quarter. Mutual of America Capital Management LLC grew its position in IMAX by 44.0% in the fourth quarter. Mutual of America Capital Management LLC now owns 158,022 shares of the company’s stock valued at $2,373,000 after purchasing an additional 48,266 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in IMAX by 65.5% in 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 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.