IMAX's (IMAX) Buy Rating Reaffirmed at Roth Capital

Roth Capital restated their buy rating on shares of IMAX (NYSE:IMAX - Free Report) in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has a $36.00 target price on the stock.

Other equities research analysts have also recently issued research reports about the stock. Rosenblatt Securities reissued a "buy" rating and set a $35.00 price target on shares of IMAX in a research report on Monday, June 16th. JPMorgan Chase & Co. cut their target price on shares of IMAX from $27.00 to $26.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Wedbush reiterated an "outperform" rating and set a $32.00 price target on shares of IMAX in a research note on Thursday, April 17th. B. Riley reiterated a "buy" rating and set a $36.00 price target on shares of IMAX in a research note on Friday, May 16th. Finally, Macquarie lifted their price target on shares of IMAX from $30.00 to $32.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $31.70.

IMAX Trading Down 2.0%

Shares of NYSE:IMAX traded down $0.55 during trading on Wednesday, reaching $26.35. The company had a trading volume of 1,388,595 shares, compared to its average volume of 787,153. IMAX has a 12 month low of $16.43 and a 12 month high of $29.66. The company has a fifty day moving average of $27.14 and a two-hundred day moving average of $25.47. The stock has a market capitalization of $1.42 billion, a P/E ratio of 56.07, a price-to-earnings-growth ratio of 1.68 and a beta of 0.80.

IMAX (NYSE:IMAX - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.11 by $0.02. IMAX had a net margin of 6.98% and a return on equity of 7.79%. The company had revenue of $86.67 million for the quarter, compared to analyst estimates of $82.95 million. During the same quarter last year, the firm earned $0.15 EPS. The firm's quarterly revenue was up 9.6% compared to the same quarter last year. As a group, equities research analysts predict that IMAX will post 0.91 earnings per share for the current year.

IMAX announced that its Board of Directors has approved a stock repurchase program on Thursday, June 12th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 6.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

Institutional Trading of IMAX

Hedge funds have recently made changes to their positions in the business. Polar Asset Management Partners Inc. grew its position in IMAX by 191.6% in the fourth quarter. Polar Asset Management Partners Inc. now owns 204,536 shares of the company's stock worth $5,236,000 after acquiring an additional 134,389 shares in the last quarter. North Star Investment Management Corp. purchased a new position in IMAX in the first quarter worth about $290,000. Deutsche Bank AG grew its position in IMAX by 765.1% in the fourth quarter. Deutsche Bank AG now owns 241,930 shares of the company's stock worth $6,193,000 after acquiring an additional 213,965 shares in the last quarter. GAMMA Investing LLC grew its position in IMAX by 2,361.4% in the first quarter. GAMMA Investing LLC now owns 40,342 shares of the company's stock worth $10,630,000 after acquiring an additional 38,703 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its position in IMAX by 267.2% in the fourth quarter. BNP Paribas Financial Markets now owns 96,062 shares of the company's stock worth $2,459,000 after acquiring an additional 69,901 shares in the last quarter. 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.