IMAX (NYSE:IMAX) Receives “Buy” Rating from Benchmark

IMAX (NYSE:IMAX)‘s stock had its “buy” rating reissued by analysts at Benchmark in a research note issued to investors on Friday, Benzinga reports. They presently have a $22.00 price objective on the stock. Benchmark’s target price would indicate a potential upside of 28.81% from the company’s previous close.

Several other equities analysts have also weighed in on IMAX. JPMorgan Chase & Co. reduced their price objective on shares of IMAX from $20.00 to $17.00 and set a “neutral” rating for the company in a research report on Tuesday, February 6th. Barrington Research reiterated an “outperform” rating and issued a $24.00 target price on shares of IMAX in a report on Monday. Rosenblatt Securities decreased their target price on shares of IMAX from $30.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, February 13th. The Goldman Sachs Group decreased their target price on shares of IMAX from $15.00 to $13.00 and set a “sell” rating for the company in a report on Thursday, January 11th. Finally, B. Riley decreased their target price on shares of IMAX from $27.00 to $21.00 and set a “buy” rating for the company in a report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.57.

IMAX Price Performance

Shares of IMAX stock traded down $0.38 during trading hours on Friday, reaching $17.08. The stock had a trading volume of 963,231 shares, compared to its average volume of 862,395. IMAX has a twelve month low of $13.20 and a twelve month high of $21.82. The firm has a 50-day simple moving average of $16.31 and a 200-day simple moving average of $16.09. The firm has a market capitalization of $904.39 million, a PE ratio of 37.15, a price-to-earnings-growth ratio of 1.55 and a beta of 1.25.

IMAX (NYSE:IMAX) last announced its earnings results on Thursday, April 25th. The company reported $0.08 earnings per share (EPS) for the quarter, beating 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, equities analysts anticipate that IMAX will post 0.57 earnings per share for the current year.

Insider Transactions at IMAX

In other news, VP Robert D. Lister sold 25,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $16.87, for a total value of $421,750.00. Following the completion of the sale, the vice president now directly owns 138,889 shares of the company’s stock, valued at $2,343,057.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 24.33% of the stock is owned by insiders.

Hedge Funds Weigh In On IMAX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. bought a new position in IMAX during the fourth quarter valued at approximately $33,000. Tower Research Capital LLC TRC raised its position in IMAX by 545.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the company’s stock valued at $75,000 after acquiring an additional 4,218 shares in the last quarter. SG Americas Securities LLC acquired a new position in IMAX during the third quarter valued at approximately $139,000. Partnership Wealth Management LLC acquired a new position in IMAX during the fourth quarter valued at approximately $111,000. Finally, C M Bidwell & Associates Ltd. acquired a new position in IMAX during the third quarter valued at approximately $160,000. 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.