Macquarie Boosts IMAX (NYSE:IMAX) Price Target to $30.00

IMAX (NYSE:IMAX) had its target price increased by Macquarie from $28.00 to $30.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Macquarie’s price objective points to a potential upside of 15.27% from the company’s previous close.

Several other equities analysts have also issued reports on IMAX. StockNews.com lowered shares of IMAX from a “buy” rating to a “hold” rating in a report on Thursday, February 13th. Wedbush reissued an “outperform” rating and issued a $32.00 target price on shares of IMAX in a research note on Thursday. Rosenblatt Securities raised their price target on IMAX from $28.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday. Roth Mkm boosted their price objective on IMAX from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. raised their target price on shares of IMAX from $21.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued 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 $30.67.

IMAX Trading Down 3.4 %

NYSE:IMAX opened at $26.03 on Thursday. IMAX has a 1-year low of $14.94 and a 1-year high of $27.77. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of 53.11, a PEG ratio of 1.50 and a beta of 1.22. The business’s 50-day moving average price is $24.65 and its two-hundred day moving average price is $23.00.

IMAX (NYSE:IMAX) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.17 earnings per share 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 analyst estimates of $104.08 million. IMAX had a net margin of 7.40% and a return on equity of 8.79%. Sell-side analysts predict that IMAX will post 0.91 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Robert D. Lister sold 55,910 shares of IMAX stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $25.50, for a total value of $1,425,705.00. Following the sale, the executive vice president now owns 138,889 shares of the company’s stock, valued at approximately $3,541,669.50. The trade was a 28.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kenneth Ian Weissman sold 6,309 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $25.51, for a total value of $160,942.59. Following the transaction, the insider now directly owns 25,139 shares of the company’s stock, valued at $641,295.89. This trade represents a 20.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 65,176 shares of company stock valued at $1,662,110 in the last quarter. 24.08% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. boosted its holdings in shares of IMAX by 138.5% in the 4th quarter. Blue Trust Inc. now owns 966 shares of the company’s stock valued at $25,000 after buying an additional 561 shares during the last quarter. Huntington National Bank bought a new stake in IMAX during the third quarter worth $34,000. Quarry LP lifted 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 during the last quarter. US Bancorp DE grew its position in shares of IMAX by 23.4% in the 3rd 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 during the period. Finally, Tower Research Capital LLC TRC increased its stake in shares of IMAX by 415.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,236 shares of the company’s stock worth $185,000 after purchasing an additional 5,832 shares during 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.