IMAX (NYSE:IMAX) Earns Outperform Rating from Barrington Research

IMAX (NYSE:IMAX)‘s stock had its “outperform” rating reiterated by Barrington Research in a research report issued on Wednesday, Benzinga reports. They presently have a $24.00 price target on the stock. Barrington Research’s price target points to a potential upside of 18.58% from the company’s previous close.

Several other brokerages have also weighed in on IMAX. Wedbush upped their target price on IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 3rd. Roth Mkm raised their price objective on shares of 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 raised shares of IMAX to a “strong-buy” rating in a research report on Wednesday, July 24th. B. Riley raised their price target on shares of IMAX from $27.00 to $30.00 and gave the company a “buy” rating in a report on Monday, July 8th. Finally, Macquarie upped their price objective on shares of IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, IMAX has a consensus rating of “Moderate Buy” and an average target price of $23.67.

IMAX Stock Performance

IMAX stock opened at $20.24 on Wednesday. The stock has a market cap of $1.07 billion, a P/E ratio of 42.17, a P/E/G ratio of 1.38 and a beta of 1.25. The firm has a 50 day simple moving average of $20.36 and a 200 day simple moving average of $17.88. IMAX has a 52 week low of $13.20 and a 52 week high of $22.13.

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

Institutional Investors Weigh In On IMAX

Hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in shares of IMAX by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,454,524 shares of the company’s stock worth $21,847,000 after acquiring an additional 10,358 shares during the last quarter. Private Capital Management LLC increased its holdings 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 purchasing an additional 118,649 shares during the period. Victory Capital Management Inc. raised its position 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 buying an additional 321,506 shares during the last quarter. Thrivent Financial for Lutherans raised its position in shares of IMAX by 5.5% during the second quarter. Thrivent Financial for Lutherans now owns 819,325 shares of the company’s stock valued at $13,740,000 after buying an additional 42,952 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in IMAX by 90.6% during the second 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 in the last quarter. 93.51% of the stock is currently owned by institutional investors.

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.