IMAX Co. (NYSE:IMAX) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of IMAX Co. (NYSE:IMAX – Get Rating) have been assigned an average rating of “Moderate Buy” from the eleven ratings firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $21.63.

Several research firms have issued reports on IMAX. JPMorgan Chase & Co. upped their price objective on IMAX from $16.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday, February 23rd. Barrington Research raised their price target on IMAX from $22.00 to $24.00 and gave the company an “outperform” rating in a research note on Friday, April 21st. StockNews.com began coverage on IMAX in a research note on Thursday. They issued a “hold” rating for the company. The Goldman Sachs Group lifted their target price on IMAX from $12.00 to $14.00 and gave the stock a “sell” rating in a research note on Tuesday, February 28th. Finally, B. Riley lifted their price target on IMAX from $26.00 to $27.00 in a report on Friday, April 28th.

Insider Buying and Selling

In other IMAX news, EVP Calamera Pablo sold 7,697 shares of the firm’s stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $18.32, for a total transaction of $141,009.04. Following the sale, the executive vice president now owns 34,106 shares in the company, valued at $624,821.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other IMAX news, EVP Calamera Pablo sold 7,697 shares of the firm’s stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $18.32, for a total transaction of $141,009.04. Following the sale, the executive vice president now owns 34,106 shares in the company, valued at $624,821.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard L. Gelfond sold 100,000 shares of the firm’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $20.95, for a total value of $2,095,000.00. Following the transaction, the chief executive officer now directly owns 388,678 shares in the company, valued at $8,142,804.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 137,697 shares of company stock worth $2,811,109. Corporate insiders own 22.22% of the company’s stock.

Institutional Trading of IMAX

Several large investors have recently bought and sold shares of the company. Harbor Investment Advisory LLC lifted its holdings in shares of IMAX by 42.5% during the first quarter. Harbor Investment Advisory LLC now owns 2,425 shares of the company’s stock valued at $47,000 after purchasing an additional 723 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of IMAX by 164.8% during the third quarter. Tower Research Capital LLC TRC now owns 3,260 shares of the company’s stock valued at $46,000 after purchasing an additional 2,029 shares during the last quarter. Point72 Hong Kong Ltd lifted its holdings in shares of IMAX by 1,905.6% during the third quarter. Point72 Hong Kong Ltd now owns 5,395 shares of the company’s stock valued at $76,000 after purchasing an additional 5,126 shares during the last quarter. Great West Life Assurance Co. Can purchased a new position in shares of IMAX during the third quarter valued at approximately $79,000. Finally, SRS Capital Advisors Inc. lifted its holdings in shares of IMAX by 11.1% during the first quarter. SRS Capital Advisors Inc. now owns 6,492 shares of the company’s stock valued at $125,000 after purchasing an additional 650 shares during the last quarter. 75.36% of the stock is owned by institutional investors.

IMAX Price Performance

Shares of NYSE:IMAX opened at $18.90 on Friday. IMAX has a fifty-two week low of $12.13 and a fifty-two week high of $21.82. The business has a 50-day moving average of $19.29 and a two-hundred day moving average of $17.14. The stock has a market capitalization of $1.03 billion, a P/E ratio of -157.50, a P/E/G ratio of 2.51 and a beta of 1.38.

IMAX (NYSE:IMAX – Get Rating) last issued its quarterly earnings results on Thursday, April 27th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.04. IMAX had a negative return on equity of 1.12% and a negative net margin of 2.06%. The firm had revenue of $86.95 million for the quarter, compared to analyst estimates of $78.50 million. As a group, research analysts expect that IMAX will post 0.39 EPS for the current fiscal year.

About IMAX

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IMAX Corp. is an entertainment technology company, which engages in the business of motion picture technologies and presentations. It operates through following business segments: IMAX Technology Network, IMAX Technology Sales and Maintenance, and Film Distribution and Post-Production. The IMAX Technology Network segment includes the IMAX DMR segment and contingent rent from the JRSA segment.