Benchmark Reaffirms Buy Rating for IMAX (NYSE:IMAX)

IMAX (NYSE:IMAX - Get Free Report)'s stock had its "buy" rating restated by equities researchers at Benchmark in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $22.00 price target on the stock. Benchmark's price target would indicate a potential upside of 30.37% from the stock's current price.

A number of other research analysts also recently weighed in on the stock. Barrington Research reiterated an "outperform" rating and issued a $24.00 price objective on shares of IMAX in a research report on Wednesday, February 28th. Rosenblatt Securities cut their target price on shares of IMAX from $30.00 to $25.00 and set a "buy" rating for the company in a research note on Tuesday, February 13th. JPMorgan Chase & Co. cut their target price 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. The Goldman Sachs Group cut their target price on shares of IMAX from $15.00 to $13.00 and set a "sell" rating for the company in a research note on Thursday, January 11th. Finally, Wedbush reissued an "outperform" rating and set a $22.00 target price on shares of IMAX in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $20.57.

IMAX Stock Performance

NYSE IMAX traded up $0.55 on Tuesday, reaching $16.88. 996,068 shares of the company's stock traded hands, compared to its average volume of 827,320. The firm has a market cap of $893.55 million, a price-to-earnings ratio of 36.68, a P/E/G ratio of 1.43 and a beta of 1.25. The stock has a 50 day moving average price of $15.93 and a 200-day moving average price of $16.15. IMAX has a fifty-two week low of $13.20 and a fifty-two week high of $21.82.

IMAX (NYSE:IMAX - Get Free Report) last posted its earnings results on Tuesday, February 27th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.12. The company had revenue of $86.02 million during the quarter, compared to the consensus estimate of $85.83 million. IMAX had a net margin of 6.76% and a return on equity of 9.59%. The firm's quarterly revenue was down 12.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.05 earnings per share. As a group, equities research analysts anticipate that IMAX will post 0.58 EPS for the current fiscal year.

Insider Activity at IMAX

In related news, VP Robert D. Lister sold 25,000 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $16.87, for a total value of $421,750.00. Following the transaction, the vice president now directly owns 138,889 shares of the company's stock, valued at approximately $2,343,057.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 24.33% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Swiss National Bank lifted its stake in shares of IMAX by 8.5% in the 3rd quarter. Swiss National Bank now owns 102,000 shares of the company's stock worth $1,971,000 after acquiring an additional 8,000 shares during the period. Mizuho Markets Americas LLC acquired a new stake in shares of IMAX in the 3rd quarter worth $7,118,000. Alpine Woods Capital Investors LLC lifted its stake in shares of IMAX by 33.8% in the 3rd quarter. Alpine Woods Capital Investors LLC now owns 392,278 shares of the company's stock worth $7,579,000 after acquiring an additional 99,163 shares during the period. GTS Securities LLC acquired a new stake in shares of IMAX in the 3rd quarter worth $1,092,000. Finally, HighTower Advisors LLC lifted its stake in shares of IMAX by 562.8% in the 3rd quarter. HighTower Advisors LLC now owns 77,338 shares of the company's stock worth $1,480,000 after acquiring an additional 65,670 shares during the period. 93.51% of the stock is owned by hedge funds and other 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.