Barrington Research Reaffirms Outperform Rating for IMAX (NYSE:IMAX)

IMAX (NYSE:IMAX)‘s stock had its “outperform” rating reiterated by analysts at Barrington Research in a report issued on Friday,Benzinga reports. They presently have a $30.00 price objective on the stock. Barrington Research’s price objective would indicate a potential upside of 29.81% from the stock’s current price.

IMAX has been the topic of a number of other research reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $28.00 price objective on shares of IMAX in a research report on Thursday, October 31st. JPMorgan Chase & Co. raised their price objective on IMAX from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Roth Mkm raised their price objective on IMAX from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. StockNews.com raised IMAX from a “hold” rating to a “buy” rating in a report on Thursday, January 2nd. Finally, Wedbush reissued an “outperform” rating on shares of IMAX in a report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.78.

IMAX Stock Performance

IMAX stock traded down $0.46 during midday trading on Friday, reaching $23.11. The company’s stock had a trading volume of 392,824 shares, compared to its average volume of 528,768. IMAX has a 1 year low of $13.20 and a 1 year high of $26.84. The stock has a fifty day simple moving average of $25.05 and a two-hundred day simple moving average of $21.60. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 52.52, a PEG ratio of 1.69 and a beta of 1.24.

IMAX (NYSE:IMAX) last posted its quarterly 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. IMAX had a return on equity of 7.53% and a net margin of 6.74%. The business had revenue of $91.50 million for the quarter, compared to the consensus estimate of $93.71 million. During the same quarter in the prior year, the company earned $0.27 EPS. The business’s revenue was down 11.9% compared to the same quarter last year. As a group, analysts forecast that IMAX will post 0.77 EPS for the current fiscal year.

Insider Activity at IMAX

In other IMAX news, insider Kenneth Ian Weissman sold 6,309 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $641,295.89. This trade represents a 20.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Natasha Fernandes sold 2,957 shares of IMAX stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $25.52, for a total value of $75,462.64. Following the completion of the sale, the chief financial officer now directly owns 14,883 shares in the company, valued at $379,814.16. This represents a 16.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,176 shares of company stock worth $1,662,110. 24.08% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On IMAX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IMAX. Huntington National Bank purchased a new stake in IMAX in the third quarter valued at $34,000. Headlands Technologies LLC purchased a new stake in IMAX in the second quarter valued at $35,000. Quarry LP raised its position in IMAX by 78,333.3% in the third quarter. Quarry LP now owns 2,353 shares of the company’s stock valued at $48,000 after purchasing an additional 2,350 shares during the period. nVerses Capital LLC purchased a new stake in IMAX in the third quarter valued at $70,000. Finally, US Bancorp DE raised its position in IMAX by 23.4% in the third quarter. US Bancorp DE now owns 7,656 shares of the company’s stock valued at $157,000 after purchasing an additional 1,452 shares during the period. Institutional investors and hedge funds own 93.51% of the company’s stock.

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.