Rosenblatt Securities Issues Positive Forecast for IMAX (NYSE:IMAX) Stock Price

IMAX (NYSE:IMAX) had its price target raised by equities research analysts at Rosenblatt Securities from $28.00 to $35.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Rosenblatt Securities’ price target would indicate a potential upside of 34.49% from the company’s previous close.

A number of other research analysts have also commented on the company. Barrington Research upped their price target on IMAX from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday. JPMorgan Chase & Co. upped their price target on IMAX from $21.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Wedbush reiterated an “outperform” rating and set a $32.00 price target on shares of IMAX in a report on Wednesday, February 12th. StockNews.com lowered IMAX from a “buy” rating to a “hold” rating in a research note on Thursday, February 13th. Finally, Benchmark restated a “buy” rating and issued a $30.00 target price on shares of IMAX in a research note on Friday, January 17th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $30.67.

IMAX Stock Down 3.4 %

Shares of IMAX stock opened at $26.03 on Thursday. IMAX has a 12-month low of $14.94 and a 12-month high of $27.77. The stock has a market capitalization of $1.37 billion, a P/E ratio of 53.11, a PEG ratio of 1.50 and a beta of 1.22. The stock has a 50 day moving average price of $24.65 and a two-hundred day moving average price of $23.00.

IMAX (NYSE:IMAX) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.14). IMAX had a return on equity of 8.79% and a net margin of 7.40%. The business had revenue of $92.67 million for the quarter, compared to analyst estimates of $104.08 million. Sell-side analysts anticipate that IMAX will post 0.91 earnings per share for the current year.

Insider Buying and Selling at IMAX

In other IMAX news, insider Kenneth Ian Weissman sold 6,309 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $25.51, for a total value of $160,942.59. Following the sale, the insider now directly owns 25,139 shares in the company, valued at $641,295.89. This represents a 20.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Robert D. Lister sold 55,910 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $25.50, for a total value of $1,425,705.00. Following the completion of the sale, the executive vice president now owns 138,889 shares in the company, valued at $3,541,669.50. This trade represents a 28.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 65,176 shares of company stock worth $1,662,110 over the last three months. Company insiders own 24.08% of the company’s stock.

Institutional Trading of IMAX

A number of large investors have recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of IMAX by 87.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 147,978 shares of the company’s stock worth $3,788,000 after purchasing an additional 68,957 shares during the last quarter. Squarepoint Ops LLC bought a new stake in shares of IMAX during the fourth quarter worth $999,000. Two Sigma Investments LP bought a new stake in shares of IMAX during the fourth quarter worth $2,411,000. State of Wyoming grew its holdings in shares of IMAX by 184.6% during the fourth quarter. State of Wyoming now owns 21,606 shares of the company’s stock worth $553,000 after purchasing an additional 14,014 shares during the last quarter. Finally, Polar Asset Management Partners Inc. grew its holdings in shares of IMAX by 191.6% during the fourth quarter. Polar Asset Management Partners Inc. now owns 204,536 shares of the company’s stock worth $5,236,000 after purchasing an additional 134,389 shares during the last quarter. 93.51% of the stock is currently owned by institutional investors.

About IMAX

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.