IMAX (NYSE:IMAX) Price Target Raised to $27.00

IMAX (NYSE:IMAX) had its price target hoisted by Roth Mkm from $23.00 to $27.00 in a research report report published on Friday, Benzinga reports. Roth Mkm currently has a buy rating on the stock.

Other equities research analysts also recently issued research reports about the company. Barrington Research reissued an outperform rating and issued a $25.00 target price on shares of IMAX in a report on Friday. Benchmark reaffirmed a buy rating and set a $22.00 price target on shares of IMAX in a research note on Thursday, June 20th. Macquarie lifted their price target on IMAX from $24.00 to $26.00 and gave the stock an outperform rating in a research note on Friday. Rosenblatt Securities lifted their price target on IMAX from $25.00 to $28.00 and gave the stock a buy rating in a research note on Friday. Finally, Seaport Res Ptn raised IMAX to a strong-buy rating in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, IMAX presently has an average rating of Moderate Buy and an average price target of $23.56.

IMAX Stock Performance

IMAX stock opened at $19.90 on Friday. IMAX has a one year low of $13.20 and a one year high of $20.77. The business has a fifty day moving average of $16.81 and a two-hundred day moving average of $16.18. The company has a market cap of $1.05 billion, a P/E ratio of 41.46, a price-to-earnings-growth ratio of 1.80 and a beta of 1.26.

IMAX (NYSE:IMAX) last released its earnings results on Thursday, July 25th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.11. IMAX had a return on equity of 7.78% and a net margin of 5.97%. The company had revenue of $88.96 million during the quarter, compared to the consensus estimate of $74.52 million. During the same quarter last year, the company earned $0.17 earnings per share. IMAX’s quarterly revenue was down 9.2% compared to the same quarter last year. Sell-side analysts predict that IMAX will post 0.56 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. acquired a new position in IMAX in the 4th quarter valued at about $33,000. Summit Securities Group LLC acquired a new position in IMAX in the 2nd quarter valued at about $80,000. Tower Research Capital LLC TRC raised its stake in IMAX by 545.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the company’s stock valued at $75,000 after purchasing an additional 4,218 shares during the last quarter. Partnership Wealth Management LLC acquired a new position in IMAX in the 4th quarter valued at about $111,000. Finally, Laurus Investment Counsel Inc. acquired a new position in IMAX in the 2nd quarter valued at about $150,000. 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.