IMAX’s (IMAX) Buy Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reaffirmed their buy rating on shares of IMAX (NYSE:IMAX) in a research report sent to investors on Friday, Benzinga reports. Rosenblatt Securities currently has a $28.00 price target on the stock.

Other research analysts also recently issued reports about the stock. B. Riley increased their price target on shares of IMAX from $27.00 to $30.00 and gave the stock a buy rating in a research report on Monday, July 8th. Roth Mkm lifted their target price on IMAX from $23.00 to $27.00 and gave the company a buy rating in a research report on Friday, July 26th. Seaport Res Ptn upgraded IMAX to a strong-buy rating in a research report on Wednesday, July 24th. Wedbush raised their price objective on shares of IMAX from $24.00 to $26.00 and gave the company an outperform rating in a research report on Tuesday, September 3rd. Finally, Barrington Research reissued an outperform rating and issued a $24.00 price target on shares of IMAX in a report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $23.67.

IMAX Price Performance

NYSE IMAX opened at $19.69 on Friday. IMAX has a 1-year low of $13.20 and a 1-year high of $22.13. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 41.01, a PEG ratio of 1.38 and a beta of 1.25. The business’s fifty day moving average price is $20.56 and its 200-day moving average price is $18.09.

IMAX (NYSE:IMAX) last announced its earnings results on Thursday, July 25th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.11. IMAX had a return on equity of 7.78% and a net margin of 5.97%. The business had revenue of $88.96 million for the quarter, compared to analysts’ expectations of $74.52 million. During the same period last year, the firm posted $0.17 earnings per share. The business’s revenue for the quarter was down 9.2% on a year-over-year basis. Equities research analysts anticipate that IMAX will post 0.69 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Private Capital Management LLC lifted its stake in shares of IMAX by 10.0% during the 1st quarter. Private Capital Management LLC now owns 1,304,364 shares of the company’s stock worth $21,092,000 after acquiring an additional 118,649 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of IMAX by 33.1% during the second quarter. Victory Capital Management Inc. now owns 1,293,221 shares of the company’s stock valued at $21,687,000 after purchasing an additional 321,506 shares during the period. Thrivent Financial for Lutherans grew its holdings in shares of IMAX by 5.5% in the second quarter. Thrivent Financial for Lutherans now owns 819,325 shares of the company’s stock worth $13,740,000 after purchasing an additional 42,952 shares during the last quarter. Bank of New York Mellon Corp increased its stake in IMAX by 90.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 587,694 shares of the company’s stock worth $9,856,000 after buying an additional 279,410 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in IMAX by 13.2% during the 1st quarter. Vanguard Group Inc. now owns 584,795 shares of the company’s stock valued at $9,456,000 after buying an additional 68,155 shares in the last quarter. Institutional investors own 93.51% of the company’s stock.

About IMAX

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.