IMAX (NYSE:IMAX) Rating Reiterated by Benchmark

IMAX (NYSE:IMAX)‘s stock had its “buy” rating reaffirmed by investment analysts at Benchmark in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $22.00 price target on the stock. Benchmark’s price objective would indicate a potential upside of 28.81% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. StockNews.com cut IMAX from a “buy” rating to a “hold” rating in a research note on Saturday, January 27th. Wedbush restated an “outperform” rating and issued a $22.00 target price on shares of IMAX in a research note on Wednesday, April 10th. JPMorgan Chase & Co. dropped their price objective on IMAX from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 6th. Barrington Research reiterated an “outperform” rating and set a $24.00 price objective on shares of IMAX in a research note on Wednesday, February 28th. Finally, Rosenblatt Securities dropped their price objective on IMAX from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.57.

IMAX Stock Performance

NYSE IMAX opened at $17.08 on Tuesday. The stock has a market capitalization of $904.39 million, a price-to-earnings ratio of 37.13, a PEG ratio of 1.42 and a beta of 1.25. The stock’s 50 day moving average price is $16.00 and its two-hundred day moving average price is $16.16. IMAX has a 52 week low of $13.20 and a 52 week high of $21.82.

IMAX (NYSE:IMAX) last released its earnings results on Tuesday, February 27th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.05 by $0.12. The firm had revenue of $86.02 million for the quarter, compared to analysts’ expectations of $85.83 million. IMAX had a return on equity of 9.59% and a net margin of 6.76%. The business’s quarterly revenue was down 12.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.05 EPS. On average, equities research analysts forecast that IMAX will post 0.58 EPS for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Swiss National Bank grew its holdings in IMAX by 8.5% in the 3rd quarter. Swiss National Bank now owns 102,000 shares of the company’s stock valued at $1,971,000 after buying an additional 8,000 shares in the last quarter. Mizuho Markets Americas LLC acquired a new position in IMAX in the 3rd quarter valued at $7,118,000. Alpine Woods Capital Investors LLC grew its holdings in IMAX by 33.8% in the 3rd quarter. Alpine Woods Capital Investors LLC now owns 392,278 shares of the company’s stock valued at $7,579,000 after buying an additional 99,163 shares in the last quarter. GTS Securities LLC acquired a new position in IMAX in the 3rd quarter valued at $1,092,000. Finally, HighTower Advisors LLC grew its holdings in IMAX by 562.8% in the 3rd quarter. HighTower Advisors LLC now owns 77,338 shares of the company’s stock valued at $1,480,000 after buying an additional 65,670 shares in the last quarter. 93.51% of the stock is owned by institutional investors and hedge funds.

IMAX Company Profile

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.