IMAX (NYSE:IMAX - Get Free Report)'s stock had its "buy" rating restated by equities research analysts at Benchmark in a report issued on Friday, Benzinga reports. They presently have a $22.00 price target on the stock. Benchmark's target price indicates a potential upside of 28.35% from the stock's current price.
Other equities analysts also recently issued research reports about the stock. The Goldman Sachs Group dropped their price target 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. StockNews.com downgraded shares of IMAX from a "buy" rating to a "hold" rating in a research report on Saturday, January 27th. Wedbush reaffirmed an "outperform" rating and issued a $22.00 price objective on shares of IMAX in a research report on Friday. JPMorgan Chase & Co. lowered their target price on shares of IMAX from $20.00 to $17.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 6th. Finally, B. Riley lowered their price target on shares of IMAX from $27.00 to $21.00 and set a "buy" rating for the company in a research report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, IMAX has an average rating of "Moderate Buy" and a consensus price target of $20.57.
Read Our Latest Research Report on IMAX
IMAX Price Performance
Shares of IMAX stock traded down $0.32 on Friday, hitting $17.14. 1,724,823 shares of the company's stock traded hands, compared to its average volume of 873,278. The firm's 50-day moving average price is $16.37 and its two-hundred day moving average price is $16.10. The stock has a market capitalization of $907.56 million, a PE ratio of 37.26, a price-to-earnings-growth ratio of 1.55 and a beta of 1.25. IMAX has a one year low of $13.20 and a one year high of $21.82.
IMAX (NYSE:IMAX - Get Free Report) last announced its earnings results on Thursday, April 25th. The company reported $0.08 earnings per share for the quarter, topping analysts' consensus estimates of $0.03 by $0.05. The firm had revenue of $79.12 million during the quarter, compared to analyst estimates of $77.88 million. IMAX had a net margin of 6.76% and a return on equity of 9.59%. On average, analysts forecast that IMAX will post 0.57 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other IMAX news, VP Robert D. Lister sold 25,000 shares of IMAX stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $16.87, for a total transaction of $421,750.00. Following the sale, the vice president now directly 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 the SEC website. 24.33% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in IMAX in the 3rd quarter worth about $139,000. Raymond James Financial Services Advisors Inc. increased its holdings in IMAX by 86.5% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 24,824 shares of the company's stock valued at $480,000 after purchasing an additional 11,516 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in IMAX by 41.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,531 shares of the company's stock valued at $242,000 after buying an additional 3,682 shares during the last quarter. Knights of Columbus Asset Advisors LLC boosted its position in IMAX by 9.7% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 227,058 shares of the company's stock valued at $4,387,000 after buying an additional 20,132 shares during the last quarter. Finally, Arizona State Retirement System boosted its position in shares of IMAX by 8.9% in the 3rd quarter. Arizona State Retirement System now owns 13,212 shares of the company's stock worth $255,000 after purchasing an additional 1,085 shares during the last quarter. Institutional investors and hedge funds own 93.51% of the company's stock.
About IMAX
(
Get Free Report)
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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