IMAX (NYSE:IMAX) Price Target Increased to $21.00 by Analysts at JPMorgan Chase & Co.

IMAX (NYSE:IMAX) had its target price boosted by equities research analysts at JPMorgan Chase & Co. from $20.00 to $21.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 1.01% from the stock’s current price.

Several other brokerages also recently issued reports on IMAX. Roth Mkm restated a “buy” rating and issued a $27.00 price target on shares of IMAX in a report on Thursday, October 10th. Barrington Research reiterated an “outperform” rating and set a $24.00 target price on shares of IMAX in a research note on Wednesday, September 25th. Macquarie boosted their price target on IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Benchmark reiterated a “buy” rating and issued a $22.00 price target on shares of IMAX in a research report on Thursday, June 20th. Finally, B. Riley raised their target price on IMAX from $27.00 to $30.00 and gave the company a “buy” rating in a report on Monday, July 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.11.

IMAX Stock Performance

NYSE IMAX opened at $20.79 on Monday. The stock has a 50-day simple moving average of $20.50 and a 200 day simple moving average of $18.27. IMAX has a twelve month low of $13.20 and a twelve month high of $22.13. The stock has a market capitalization of $1.09 billion, a PE ratio of 43.31, a P/E/G ratio of 1.41 and a beta of 1.25.

IMAX (NYSE:IMAX) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.11. IMAX had a return on equity of 7.78% and a net margin of 5.97%. The company had revenue of $88.96 million for the quarter, compared to analyst estimates of $74.52 million. During the same quarter in the previous year, the firm earned $0.17 earnings per share. The business’s revenue was down 9.2% on a year-over-year basis. As a group, equities research analysts forecast that IMAX will post 0.69 EPS for the current fiscal year.

Hedge Funds Weigh In On IMAX

A number of hedge funds have recently bought and sold shares of IMAX. PNC Financial Services Group Inc. purchased a new position in shares of IMAX during the 4th quarter valued at about $33,000. Headlands Technologies LLC bought a new position in shares of IMAX during the 2nd quarter valued at approximately $35,000. Summit Securities Group LLC bought a new stake in IMAX in the second quarter worth about $80,000. Laurus Investment Counsel Inc. bought a new position in shares of IMAX in the second quarter worth about $150,000. Finally, XTX Topco Ltd purchased a new position in IMAX during the 2nd quarter worth $208,000. Institutional investors own 93.51% of the company’s stock.

IMAX Company Profile

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.