IMAX (NYSE:IMAX - Get Free Report)'s stock had its "outperform" rating restated by analysts at Wedbush in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $22.00 target price on the stock. Wedbush's price target indicates a potential upside of 31.38% from the company's current price.
IMAX has been the subject of several other research reports. The Goldman Sachs Group cut their price target on IMAX from $15.00 to $13.00 and set a "sell" rating for the company in a report on Thursday, January 11th. StockNews.com cut shares of IMAX from a "buy" rating to a "hold" rating in a research report on Saturday, January 27th. B. Riley decreased their price target on shares of IMAX from $27.00 to $21.00 and set a "buy" rating on the stock in a research note on Tuesday, January 2nd. JPMorgan Chase & Co. dropped their price objective on shares of IMAX from $20.00 to $17.00 and set a "neutral" rating for the company in a research note on Tuesday, February 6th. Finally, Benchmark restated a "buy" rating and issued a $22.00 target price on shares of IMAX in a report on Wednesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $20.57.
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IMAX Price Performance
Shares of IMAX stock traded up $0.14 during mid-day trading on Wednesday, hitting $16.75. The company had a trading volume of 678,727 shares, compared to its average volume of 812,730. The stock's 50 day moving average price is $15.64 and its 200-day moving average price is $16.24. IMAX has a 52-week low of $13.20 and a 52-week high of $21.82. The company has a market capitalization of $886.65 million, a P/E ratio of 36.39, a P/E/G ratio of 1.40 and a beta of 1.25.
IMAX (NYSE:IMAX - Get Free Report) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.05 by $0.12. The business had revenue of $86.02 million for the quarter, compared to analysts' expectations of $85.83 million. IMAX had a net margin of 6.76% and a return on equity of 9.59%. The business's quarterly revenue was down 12.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.05 EPS. On average, equities research analysts expect that IMAX will post 0.58 earnings per share for the current year.
Insider Buying and Selling at IMAX
In other news, VP Robert D. Lister sold 25,000 shares of the firm's stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $16.87, for a total value of $421,750.00. Following the completion of the sale, the vice president now owns 138,889 shares in the company, valued at approximately $2,343,057.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 24.33% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of IMAX. JPMorgan Chase & Co. boosted its stake in shares of IMAX by 4.0% during the first quarter. JPMorgan Chase & Co. now owns 706,135 shares of the company's stock valued at $13,367,000 after purchasing an additional 27,207 shares during the period. HighTower Advisors LLC purchased a new position in IMAX in the 1st quarter worth about $229,000. Citigroup Inc. lifted its holdings in IMAX by 40.9% during the 1st quarter. Citigroup Inc. now owns 66,264 shares of the company's stock valued at $1,254,000 after buying an additional 19,226 shares in the last quarter. MetLife Investment Management LLC boosted its position in IMAX by 53.9% in the 1st quarter. MetLife Investment Management LLC now owns 27,896 shares of the company's stock valued at $528,000 after buying an additional 9,767 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in IMAX by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,039,779 shares of the company's stock worth $19,684,000 after acquiring an additional 6,605 shares in the last quarter. Institutional investors own 93.51% of the company's stock.
About IMAX
(
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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.
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