IMAX (NYSE:IMAX) Price Target Raised to $30.00

IMAX (NYSE:IMAX) had its target price boosted by Macquarie from $28.00 to $30.00 in a report issued on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other brokerages have also issued reports on IMAX. Barrington Research boosted their target price on IMAX from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday. Roth Mkm boosted their target price on IMAX from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Benchmark reissued a “buy” rating and issued a $30.00 target price on shares of IMAX in a research report on Thursday. Rosenblatt Securities upped their price objective on IMAX from $28.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. upped their price objective on IMAX from $21.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $30.67.

IMAX Stock Performance

IMAX stock opened at $26.03 on Thursday. The firm has a market cap of $1.38 billion, a PE ratio of 53.11, a PEG ratio of 1.49 and a beta of 1.22. The firm’s 50 day moving average price is $24.65 and its 200-day moving average price is $23.01. IMAX has a one year low of $14.94 and a one year high of $27.77.

IMAX (NYSE:IMAX) last announced its earnings results on Wednesday, February 19th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.14). The firm had revenue of $92.67 million during the quarter, compared to analysts’ expectations of $104.08 million. IMAX had a net margin of 7.40% and a return on equity of 8.60%. Equities research analysts predict that IMAX will post 0.91 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Robert D. Lister sold 55,910 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $25.50, for a total transaction of $1,425,705.00. Following the completion of the transaction, the executive vice president now owns 138,889 shares in the company, valued at approximately $3,541,669.50. The trade was a 28.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Kenneth Ian Weissman sold 6,309 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $25.51, for a total transaction of $160,942.59. Following the transaction, the insider now owns 25,139 shares of the company’s stock, valued at approximately $641,295.89. The trade was a 20.06 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 65,176 shares of company stock worth $1,662,110. Corporate insiders own 24.08% of the company’s stock.

Hedge Funds Weigh In On IMAX

Large investors have recently bought and sold shares of the stock. Blue Trust Inc. boosted its stake in IMAX by 138.5% in the fourth quarter. Blue Trust Inc. now owns 966 shares of the company’s stock valued at $25,000 after acquiring an additional 561 shares in the last quarter. Huntington National Bank acquired a new position in IMAX in the third quarter valued at $34,000. Quarry LP boosted its stake in IMAX by 78,333.3% in the third quarter. Quarry LP now owns 2,353 shares of the company’s stock valued at $48,000 after acquiring an additional 2,350 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in IMAX by 415.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,236 shares of the company’s stock valued at $185,000 after acquiring an additional 5,832 shares in the last quarter. Finally, US Bancorp DE boosted its stake in IMAX by 23.4% in the third quarter. US Bancorp DE now owns 7,656 shares of the company’s stock valued at $157,000 after acquiring an additional 1,452 shares in the last quarter. 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.