IMAX’s (IMAX) Buy Rating Reaffirmed at Roth Mkm

IMAX (NYSE:IMAX)‘s stock had its “buy” rating reaffirmed by investment analysts at Roth Mkm in a report issued on Thursday, Benzinga reports. They presently have a $27.00 target price on the stock. Roth Mkm’s target price would indicate a potential upside of 24.42% from the stock’s previous close.

Several other research analysts have also commented on IMAX. Barrington Research reaffirmed an “outperform” rating and issued a $24.00 price target on shares of IMAX in a report on Wednesday, September 25th. B. Riley increased their price target on IMAX from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. Macquarie boosted their price objective on IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Benchmark reaffirmed a “buy” rating and issued a $22.00 target price on shares of IMAX in a research report on Thursday, June 20th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $28.00 price target on shares of IMAX in a report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, IMAX presently has an average rating of “Moderate Buy” and an average target price of $23.67.

IMAX Stock Up 7.6 %

Shares of NYSE IMAX opened at $21.70 on Thursday. The stock’s 50 day moving average price is $20.48 and its two-hundred day moving average price is $18.17. IMAX has a 52-week low of $13.20 and a 52-week high of $22.13. The stock has a market capitalization of $1.14 billion, a P/E ratio of 54.25, a PEG ratio of 1.41 and a beta of 1.25.

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

Hedge Funds Weigh In On IMAX

Several large investors have recently bought and sold shares of the stock. Headlands Technologies LLC acquired a new position in shares of IMAX during the 2nd quarter valued at $35,000. Price T Rowe Associates Inc. MD grew its holdings in IMAX by 19.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,082 shares of the company’s stock worth $212,000 after acquiring an additional 2,153 shares during the period. PNC Financial Services Group Inc. bought a new stake in IMAX in the fourth quarter worth about $33,000. Summit Securities Group LLC acquired a new stake in IMAX in the 2nd quarter valued at about $80,000. Finally, Partnership Wealth Management LLC boosted its position in shares of IMAX by 63.1% during the 1st quarter. Partnership Wealth Management LLC now owns 12,932 shares of the company’s stock valued at $209,000 after purchasing an additional 5,005 shares in the last quarter. Institutional investors and hedge funds 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.