Analysts Set IMAX Co. (NYSE:IMAX) Price Target at $25.11

IMAX Co. (NYSE:IMAX) has received a consensus rating of “Moderate Buy” from the ten ratings firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $25.11.

Several research firms recently weighed in on IMAX. Barrington Research restated an “outperform” rating and set a $24.00 target price on shares of IMAX in a report on Thursday, October 31st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $28.00 target price on shares of IMAX in a research report on Thursday, October 31st. JPMorgan Chase & Co. raised their target price on IMAX from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Wedbush restated an “outperform” rating on shares of IMAX in a report on Wednesday, November 27th. Finally, StockNews.com lowered shares of IMAX from a “buy” rating to a “hold” rating in a research note on Tuesday, December 10th.

Insider Transactions at IMAX

In other IMAX news, insider Kenneth Ian Weissman sold 6,309 shares of IMAX stock in a transaction 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 completion of the transaction, the insider now owns 25,139 shares of the company’s stock, valued at $641,295.89. The trade was a 20.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Natasha Fernandes sold 2,957 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $25.52, for a total transaction of $75,462.64. Following the sale, the chief financial officer now directly owns 14,883 shares in the company, valued at $379,814.16. This trade represents a 16.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 65,176 shares of company stock valued at $1,662,110. Insiders own 24.08% of the company’s stock.

Institutional Trading of IMAX

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Huntington National Bank acquired a new stake in IMAX in the third quarter worth $34,000. Headlands Technologies LLC acquired a new position in IMAX during the 2nd quarter valued at about $35,000. Quarry LP grew its position in IMAX by 78,333.3% in the 3rd quarter. Quarry LP now owns 2,353 shares of the company’s stock worth $48,000 after purchasing an additional 2,350 shares during the last quarter. nVerses Capital LLC bought a new stake in shares of IMAX during the third quarter valued at approximately $70,000. Finally, Summit Securities Group LLC acquired a new position in shares of IMAX during the second quarter worth approximately $80,000. 93.51% of the stock is currently owned by institutional investors and hedge funds.

IMAX Trading Up 0.8 %

Shares of IMAX stock opened at $24.85 on Friday. The stock has a market capitalization of $1.31 billion, a P/E ratio of 56.48, a PEG ratio of 1.69 and a beta of 1.23. The business’s fifty day moving average price is $23.95 and its 200 day moving average price is $20.66. IMAX has a twelve month low of $13.20 and a twelve month high of $26.84.

IMAX (NYSE:IMAX) last posted its earnings results on Wednesday, October 30th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.12. The firm had revenue of $91.50 million during the quarter, compared to the consensus estimate of $93.71 million. IMAX had a net margin of 6.74% and a return on equity of 7.53%. The company’s revenue was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 EPS. As a group, sell-side analysts predict that IMAX will post 0.77 EPS for the current year.

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.