IMAX’s (IMAX) “Outperform” Rating Reiterated at Barrington Research

Barrington Research reissued their outperform rating on shares of IMAX (NYSE:IMAX) in a report released on Friday,Benzinga reports. They currently have a $30.00 price target on the stock.

Several other research firms have also commented on IMAX. Rosenblatt Securities reiterated a “buy” rating and issued a $28.00 target price on shares of IMAX in a research note on Thursday, October 31st. StockNews.com raised shares of IMAX from a “hold” rating to a “buy” rating in a research report on Thursday, January 2nd. Benchmark reiterated a “buy” rating and issued a $30.00 target price on shares of IMAX in a research note on Friday. JPMorgan Chase & Co. upped their price target on IMAX from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Finally, Wedbush reiterated an “outperform” rating on shares of IMAX in a research note on Wednesday, November 27th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, IMAX presently has a consensus rating of “Buy” and an average target price of $27.38.

IMAX Stock Down 1.9 %

Shares of NYSE:IMAX opened at $23.12 on Friday. The company has a market cap of $1.22 billion, a P/E ratio of 52.55, a PEG ratio of 1.69 and a beta of 1.24. The company has a 50-day moving average price of $25.03 and a 200 day moving average price of $21.70. IMAX has a 52 week low of $13.20 and a 52 week high of $26.84.

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

Insider Activity

In other news, CFO Natasha Fernandes sold 2,957 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $25.52, for a total transaction of $75,462.64. Following the transaction, the chief financial officer now owns 14,883 shares in the company, valued at approximately $379,814.16. This trade represents a 16.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert D. Lister sold 55,910 shares of the business’s 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 completion of the sale, the executive vice president now directly owns 138,889 shares of the company’s stock, valued at $3,541,669.50. This represents a 28.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 65,176 shares of company stock worth $1,662,110 over the last 90 days. 24.08% of the stock is owned by company insiders.

Institutional Trading of IMAX

Several institutional investors have recently modified their holdings of the company. Huntington National Bank acquired a new stake in shares of IMAX in the 3rd quarter valued at $34,000. Headlands Technologies LLC bought a new position in IMAX in the second quarter valued at about $35,000. Quarry LP increased its position in IMAX by 78,333.3% in the third quarter. Quarry LP now owns 2,353 shares of the company’s stock worth $48,000 after purchasing an additional 2,350 shares during the period. nVerses Capital LLC bought a new stake in IMAX during the 3rd quarter worth about $70,000. Finally, US Bancorp DE lifted its position in IMAX by 23.4% during the 3rd quarter. US Bancorp DE now owns 7,656 shares of the company’s stock valued at $157,000 after purchasing an additional 1,452 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.