IMAX (NYSE:IMAX) Rating Reiterated by Wedbush

IMAX (NYSE:IMAX)‘s stock had its “outperform” rating reaffirmed by Wedbush in a report issued on Thursday, Benzinga reports. They currently have a $22.00 price target on the stock. Wedbush’s target price indicates a potential upside of 27.68% from the stock’s current price.

Other analysts have also recently issued reports about the company. Benchmark reiterated a “buy” rating and issued a $22.00 price objective on shares of IMAX in a research note on Tuesday. Barrington Research restated an “outperform” rating and issued a $24.00 price target on shares of IMAX in a research note on Wednesday, February 28th. B. Riley decreased their price objective 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. The Goldman Sachs Group dropped their price target on IMAX from $15.00 to $13.00 and set a “sell” rating on the stock in a research note on Thursday, January 11th. Finally, JPMorgan Chase & Co. dropped their target price on IMAX from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.57.

IMAX Trading Up 0.9 %

NYSE IMAX traded up $0.16 on Thursday, reaching $17.23. 81,630 shares of the company were exchanged, compared to its average volume of 817,586. The stock has a market capitalization of $912.33 million, a P/E ratio of 37.28, a price-to-earnings-growth ratio of 1.52 and a beta of 1.25. The business’s fifty day moving average price is $16.00 and its 200 day moving average price is $16.16. IMAX has a fifty-two week low of $13.20 and a fifty-two week high of $21.82.

IMAX (NYSE:IMAX) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.12. IMAX had a return on equity of 9.59% and a net margin of 6.76%. The company had revenue of $86.02 million during the quarter, compared to analyst estimates of $85.83 million. During the same period in the prior year, the business posted $0.05 earnings per share. The firm’s revenue for the quarter was down 12.3% compared to the same quarter last year. Equities research analysts forecast that IMAX will post 0.55 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Robert D. Lister sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $16.87, for a total value of $421,750.00. Following the completion of the sale, the vice president now owns 138,889 shares in the company, valued at approximately $2,343,057.43. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 24.33% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in IMAX. Legal & General Group Plc lifted its position in IMAX by 1.4% in the fourth quarter. Legal & General Group Plc now owns 43,759 shares of the company’s stock worth $642,000 after purchasing an additional 613 shares during the period. SRS Capital Advisors Inc. raised its holdings in IMAX by 11.1% during the 1st quarter. SRS Capital Advisors Inc. now owns 6,492 shares of the company’s stock worth $125,000 after purchasing an additional 650 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in IMAX by 8.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,929 shares of the company’s stock valued at $165,000 after acquiring an additional 806 shares during the last quarter. Becker Capital Management Inc. grew its holdings in IMAX by 0.3% during the first quarter. Becker Capital Management Inc. now owns 241,941 shares of the company’s stock valued at $4,640,000 after purchasing an additional 834 shares during the period. Finally, Sei Investments Co. grew its position in shares of IMAX by 0.6% in the 2nd quarter. Sei Investments Co. now owns 151,871 shares of the company’s stock valued at $2,580,000 after purchasing an additional 943 shares during the period. 93.51% of the stock is owned by institutional investors.

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.