IMAX (NYSE:IMAX) Stock Rating Reaffirmed by Wedbush

IMAX (NYSE:IMAX)‘s stock had its “outperform” rating reissued by investment analysts at Wedbush in a report released on Friday, Benzinga reports. They presently have a $22.00 price target on the stock. Wedbush’s target price suggests a potential upside of 28.21% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. B. Riley lowered their target price on IMAX from $27.00 to $21.00 and set a “buy” rating on the stock in a research note on Tuesday, January 2nd. Rosenblatt Securities cut their target price on shares of IMAX from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, February 13th. JPMorgan Chase & Co. decreased their target price on shares of IMAX from $20.00 to $17.00 and set a “neutral” rating for the company in a research note on Tuesday, February 6th. StockNews.com downgraded shares of IMAX from a “buy” rating to a “hold” rating in a research note on Saturday, January 27th. Finally, Barrington Research reissued an “outperform” rating and set a $24.00 price objective on shares of IMAX in a research report on Monday. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.57.

IMAX Price Performance

Shares of IMAX traded down $0.30 during mid-day trading on Friday, hitting $17.16. The company’s stock had a trading volume of 535,111 shares, compared to its average volume of 858,014. The firm has a 50-day moving average price of $16.31 and a 200 day moving average price of $16.09. The stock has a market capitalization of $908.62 million, a price-to-earnings ratio of 37.28, a PEG ratio of 1.55 and a beta of 1.25. IMAX has a fifty-two week low of $13.20 and a fifty-two week high of $21.82.

IMAX (NYSE:IMAX) last released its earnings results on Thursday, April 25th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.05. IMAX had a net margin of 6.76% and a return on equity of 9.59%. The business had revenue of $79.12 million for the quarter, compared to the consensus estimate of $77.88 million. As a group, equities analysts anticipate that IMAX will post 0.57 EPS for the current fiscal year.

Insider Activity at IMAX

In other news, VP Robert D. Lister sold 25,000 shares of the business’s stock in a transaction 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 directly owns 138,889 shares in the company, valued at $2,343,057.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 24.33% of the stock is owned by company insiders.

Institutional Trading of IMAX

Several hedge funds have recently added to or reduced their stakes in the business. Arizona State Retirement System lifted its holdings in shares of IMAX by 8.9% during the third quarter. Arizona State Retirement System now owns 13,212 shares of the company’s stock worth $255,000 after buying an additional 1,085 shares during the last quarter. Mission Wealth Management LP grew its position in IMAX by 3.6% in the 4th quarter. Mission Wealth Management LP now owns 50,587 shares of the company’s stock worth $760,000 after purchasing an additional 1,737 shares during the last quarter. PNC Financial Services Group Inc. bought a new position in shares of IMAX during the 4th quarter worth about $33,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of IMAX by 41.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,531 shares of the company’s stock valued at $242,000 after buying an additional 3,682 shares during the last quarter. Finally, Jupiter Asset Management Ltd. lifted its stake in shares of IMAX by 21.8% in the third quarter. Jupiter Asset Management Ltd. now owns 22,031 shares of the company’s stock valued at $426,000 after buying an additional 3,945 shares during the period. Institutional investors own 93.51% of the company’s stock.

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.