IMAX (NYSE:IMAX) Earns Outperform Rating from Wedbush

IMAX (NYSE:IMAX)‘s stock had its “outperform” rating reissued by investment analysts at Wedbush in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $46.00 price objective on the stock. Wedbush’s price target would indicate a potential upside of 21.66% from the stock’s previous close.

A number of other analysts have also issued reports on IMAX. Benchmark reaffirmed a “buy” rating on shares of IMAX in a report on Monday, January 5th. B. Riley Financial restated a “buy” rating on shares of IMAX in a research note on Monday, December 8th. The Goldman Sachs Group raised shares of IMAX from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $22.00 to $34.00 in a research report on Tuesday, November 25th. Wells Fargo & Company increased their price target on shares of IMAX from $40.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, December 18th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of IMAX in a report on Monday, December 29th. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, IMAX has a consensus rating of “Moderate Buy” and an average price target of $42.70.

IMAX Trading Up 0.3%

NYSE:IMAX opened at $37.81 on Monday. IMAX has a 1 year low of $20.48 and a 1 year high of $39.98. The firm’s fifty day simple moving average is $36.32 and its 200 day simple moving average is $33.62. The firm has a market capitalization of $2.03 billion, a PE ratio of 53.25, a PEG ratio of 1.87 and a beta of 0.38.

Hedge Funds Weigh In On IMAX

Hedge funds have recently made changes to their positions in the business. CIBC Private Wealth Group LLC bought a new position in shares of IMAX during the 3rd quarter worth about $27,000. Quarry LP increased its stake in IMAX by 166.8% in the fourth quarter. Quarry LP now owns 875 shares of the company’s stock valued at $32,000 after acquiring an additional 547 shares during the period. TD Waterhouse Canada Inc. raised its position in IMAX by 125.0% in the second quarter. TD Waterhouse Canada Inc. now owns 900 shares of the company’s stock worth $25,000 after purchasing an additional 500 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in IMAX by 43.8% during the third quarter. Jones Financial Companies Lllp now owns 1,041 shares of the company’s stock worth $34,000 after purchasing an additional 317 shares during the period. Finally, First Horizon Corp acquired a new stake in IMAX during the third quarter valued at approximately $34,000. Institutional investors and hedge funds own 93.51% of the company’s stock.

About IMAX

IMAX Corporation is a global leader in immersive entertainment technologies, specializing in the design, manufacture and distribution of high-resolution cameras, projectors, and proprietary software solutions that enhance both film production and theatrical exhibition. The company licenses its premium large-format system to theatre owners and filmmakers around the world, enabling audiences to experience movies with greater clarity, scale and sound fidelity. IMAX also offers turnkey theatre development services, assisting cinema operators with auditorium design, installation and custom branding to optimize the customer experience.

Founded in 1967 and headquartered in Mississauga, Ontario, IMAX has built a reputation for pioneering film-format innovations, including its patented dual 15-perforation, 70-millimeter projection system.