IMAX (NYSE:IMAX) Earns “Outperform” Rating from Barrington Research

IMAX (NYSE:IMAX)‘s stock had its “outperform” rating reaffirmed by research analysts at Barrington Research in a report issued on Monday, Benzinga reports. They presently have a $24.00 target price on the stock. Barrington Research’s price target would indicate a potential upside of 37.61% from the stock’s current price.

IMAX has been the topic of several other reports. Rosenblatt Securities dropped their price target on IMAX from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, February 13th. Wedbush reiterated an “outperform” rating and issued a $22.00 price target on shares of IMAX in a research note on Thursday, April 18th. JPMorgan Chase & Co. dropped their price objective on shares of IMAX from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 6th. B. Riley decreased their target price on shares of IMAX from $27.00 to $21.00 and set a “buy” rating for the company in a research note on Tuesday, January 2nd. Finally, StockNews.com lowered shares of IMAX from a “buy” rating to a “hold” rating in a report on Saturday, January 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.57.

IMAX Stock Up 1.7 %

Shares of IMAX stock opened at $17.44 on Monday. The company has a market cap of $923.45 million, a PE ratio of 37.91, a P/E/G ratio of 1.52 and a beta of 1.25. The business has a 50 day moving average of $16.25 and a 200 day moving average of $16.08. IMAX has a 52 week low of $13.20 and a 52 week high of $21.82.

IMAX (NYSE:IMAX) last announced its earnings results on Tuesday, February 27th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.12. IMAX had a net margin of 6.76% and a return on equity of 9.59%. The firm had revenue of $86.02 million for the quarter, compared to analyst estimates of $85.83 million. During the same quarter in the previous year, the firm posted $0.05 EPS. The company’s revenue for the quarter was down 12.3% compared to the same quarter last year. On average, research analysts anticipate that IMAX will post 0.56 earnings per share for the current year.

Insider Activity at IMAX

In other IMAX news, VP Robert D. Lister sold 25,000 shares of the stock in a transaction 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 sale, the vice president now directly owns 138,889 shares in the company, valued at approximately $2,343,057.43. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 24.33% of the stock is owned by insiders.

Institutional Trading of IMAX

A number of institutional investors have recently made changes to their positions in IMAX. PNC Financial Services Group Inc. bought a new stake in shares of IMAX in the fourth quarter worth $33,000. Tower Research Capital LLC TRC increased its position in shares of IMAX by 545.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the company’s stock valued at $75,000 after purchasing an additional 4,218 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of IMAX in the 3rd quarter worth approximately $139,000. Partnership Wealth Management LLC purchased a new position in shares of IMAX in the fourth quarter worth approximately $111,000. Finally, C M Bidwell & Associates Ltd. bought a new stake in IMAX during the third quarter valued at approximately $160,000. Hedge funds and other institutional investors own 93.51% of the company’s stock.

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.