IMAX (NYSE:IMAX) Price Target Raised to $36.00

IMAX (NYSE:IMAX - Free Report) had its price target hoisted by Roth Capital from $32.00 to $36.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other analysts have also recently commented on IMAX. Benchmark restated a "buy" rating and issued a $30.00 price target on shares of IMAX in a research report on Thursday, April 10th. JPMorgan Chase & Co. reduced their price target on IMAX from $27.00 to $26.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Barrington Research restated an "outperform" rating and issued a $32.00 price target on shares of IMAX in a research report on Thursday, April 24th. Wall Street Zen upgraded IMAX from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $35.00 price target on shares of IMAX in a research report on Thursday, April 24th. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $31.70.

IMAX Trading Up 0.8%

IMAX stock traded up $0.22 during trading on Friday, reaching $28.82. The stock had a trading volume of 1,588,555 shares, compared to its average volume of 770,328. IMAX has a 52 week low of $15.50 and a 52 week high of $29.66. The stock's 50 day moving average is $25.45 and its two-hundred day moving average is $25.22. The firm has a market cap of $1.55 billion, a PE ratio of 58.81, a PEG ratio of 1.49 and a beta of 0.81.

IMAX (NYSE:IMAX - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.11 by $0.02. IMAX had a return on equity of 8.60% and a net margin of 7.40%. The company had revenue of $86.67 million for the quarter, compared to the consensus estimate of $82.95 million. During the same quarter in the prior year, the company earned $0.15 earnings per share. IMAX's revenue was up 9.6% on a year-over-year basis. On average, research analysts anticipate that IMAX will post 0.91 EPS for the current year.

IMAX declared that its Board of Directors has approved a share repurchase plan on Thursday, June 12th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to repurchase up to 6.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's management believes its shares are undervalued.

Hedge Funds Weigh In On IMAX

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IMAX. Blue Trust Inc. boosted its stake in IMAX by 138.5% during the fourth quarter. Blue Trust Inc. now owns 966 shares of the company's stock valued at $25,000 after buying an additional 561 shares during the last quarter. Creative Financial Designs Inc. ADV bought a new position in IMAX during the first quarter valued at approximately $59,000. Tower Research Capital LLC TRC boosted its stake in IMAX by 415.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,236 shares of the company's stock valued at $185,000 after buying an additional 5,832 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in IMAX during the first quarter valued at approximately $202,000. Finally, Wealthfront Advisers LLC bought a new position in IMAX during the fourth quarter valued at approximately $217,000. 93.51% of the stock is owned by institutional investors.

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.