IMAX (NYSE:IMAX) Receives “Buy” Rating from Benchmark

Benchmark restated their buy rating on shares of IMAX (NYSE:IMAX) in a research report report published on Friday, Benzinga reports. The brokerage currently has a $22.00 price objective on the stock.

A number of other research firms have also weighed in on IMAX. StockNews.com lowered shares of IMAX from a buy rating to a hold rating in a research report on Saturday, January 27th. B. Riley dropped their target price on shares of IMAX from $27.00 to $21.00 and set a buy rating for the company in a research report on Tuesday, January 2nd. JPMorgan Chase & Co. dropped their target price on shares of IMAX from $20.00 to $17.00 and set a neutral rating for the company in a research report on Tuesday, February 6th. The Goldman Sachs Group dropped their target price on shares of IMAX from $15.00 to $13.00 and set a sell rating for the company in a research report on Thursday, January 11th. Finally, Barrington Research restated an outperform rating and set a $24.00 target price on shares of IMAX in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, IMAX presently has an average rating of Moderate Buy and an average price target of $20.57.

IMAX Trading Down 1.8 %

IMAX stock opened at $17.15 on Friday. The firm’s 50 day simple moving average is $16.37 and its 200 day simple moving average is $16.10. The firm has a market capitalization of $908.09 million, a PE ratio of 35.71, a price-to-earnings-growth ratio of 1.53 and a beta of 1.25. IMAX has a 1-year low of $13.20 and a 1-year high of $21.82.

IMAX (NYSE:IMAX) last announced its earnings results on Thursday, April 25th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.05. The company had revenue of $79.12 million during the quarter, compared to analyst estimates of $77.88 million. IMAX had a net margin of 7.13% and a return on equity of 9.37%. Research analysts forecast that IMAX will post 0.57 earnings per share for the current year.

Insider Activity

In other news, VP Robert D. Lister sold 25,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $16.87, for a total value of $421,750.00. Following the transaction, the vice president now directly owns 138,889 shares in the company, valued at $2,343,057.43. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 24.33% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Arizona State Retirement System grew its holdings in IMAX by 8.9% during the 3rd quarter. Arizona State Retirement System now owns 13,212 shares of the company’s stock worth $255,000 after acquiring an additional 1,085 shares in the last quarter. Mission Wealth Management LP grew its holdings in IMAX by 3.6% during the 4th quarter. Mission Wealth Management LP now owns 50,587 shares of the company’s stock worth $760,000 after acquiring an additional 1,737 shares in the last quarter. PNC Financial Services Group Inc. bought a new position in IMAX during the 4th quarter worth about $33,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in IMAX by 41.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,531 shares of the company’s stock worth $242,000 after acquiring an additional 3,682 shares in the last quarter. Finally, Jupiter Asset Management Ltd. grew its holdings in IMAX by 21.8% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 22,031 shares of the company’s stock worth $426,000 after acquiring an additional 3,945 shares in the last quarter. 93.51% of the stock is currently 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.