IMAX (NYSE:IMAX) Stock Rating Reaffirmed by Barrington Research

Barrington Research reiterated their outperform rating on shares of IMAX (NYSE:IMAX - Free Report) in a research report sent to investors on Monday morning, Benzinga reports. The brokerage currently has a $24.00 target price on the stock.

A number of other analysts have also weighed in on the company. StockNews.com lowered IMAX from a buy rating to a hold rating in a report on Saturday, January 27th. Wedbush reiterated an outperform rating and set a $22.00 price objective on shares of IMAX in a report on Thursday. Benchmark reiterated a buy rating and set a $22.00 price objective on shares of IMAX in a report on Tuesday, April 16th. Rosenblatt Securities decreased their price objective on IMAX from $30.00 to $25.00 and set a buy rating for the company in a report on Tuesday, February 13th. Finally, JPMorgan Chase & Co. decreased their price objective on IMAX from $20.00 to $17.00 and set a neutral rating for the company in a report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, IMAX has a consensus rating of Moderate Buy and a consensus price target of $20.57.

IMAX Price Performance

Shares of IMAX traded up $0.02 during mid-day trading on Monday, reaching $17.15. 663,775 shares of the company's stock traded hands, compared to its average volume of 824,074. The stock has a market cap of $908.09 million, a P/E ratio of 37.28, a P/E/G ratio of 1.52 and a beta of 1.25. The stock's 50-day moving average is $16.19 and its two-hundred day moving average is $16.09. IMAX has a 12 month low of $13.20 and a 12 month high of $21.82.

IMAX (NYSE:IMAX - Get Free Report) last announced its quarterly 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 firm had revenue of $86.02 million during the quarter, compared to analyst estimates of $85.83 million. IMAX had a return on equity of 9.59% and a net margin of 6.76%. IMAX's quarterly revenue was down 12.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.05 earnings per share. Research analysts predict that IMAX will post 0.56 earnings per share for the current year.

Insider Transactions at IMAX

In related news, VP Robert D. Lister sold 25,000 shares of the business's stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $16.87, for a total transaction of $421,750.00. Following the completion of the transaction, the vice president now owns 138,889 shares in the company, valued at $2,343,057.43. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 24.33% of the company's stock.

Hedge Funds Weigh In On IMAX

Large investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. purchased a new position in IMAX during the fourth quarter worth about $33,000. Tower Research Capital LLC TRC raised its holdings in IMAX by 545.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the company's stock worth $75,000 after purchasing an additional 4,218 shares in the last quarter. Partnership Wealth Management LLC purchased a new position in IMAX during the fourth quarter worth about $111,000. SG Americas Securities LLC purchased a new position in IMAX during the third quarter worth about $139,000. Finally, C M Bidwell & Associates Ltd. purchased a new position in IMAX during the third quarter worth about $160,000. Institutional investors and hedge funds own 93.51% of the company's stock.

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.