IMAX (NYSE:IMAX) Given Buy Rating at Benchmark

Benchmark reiterated their buy rating on shares of IMAX (NYSE:IMAX) in a research report released on Friday morning,Benzinga reports. They currently have a $30.00 target price on the stock.

A number of other research analysts have also recently issued reports on IMAX. Barrington Research reiterated an “outperform” rating and set a $30.00 price objective on shares of IMAX in a research note on Friday, January 10th. StockNews.com lowered shares of IMAX from a “buy” rating to a “hold” rating in a research note on Tuesday. JPMorgan Chase & Co. upped their target price on shares of IMAX from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Wedbush reissued an “outperform” rating on shares of IMAX in a research report on Wednesday, November 27th. Finally, Roth Mkm boosted their price objective on shares of IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.13.

IMAX Stock Performance

IMAX opened at $23.21 on Friday. IMAX has a 52-week low of $13.20 and a 52-week high of $26.84. The stock has a market capitalization of $1.22 billion, a PE ratio of 52.74, a price-to-earnings-growth ratio of 1.25 and a beta of 1.24. The stock’s 50 day moving average price is $24.88 and its 200-day moving average price is $21.84.

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

Insider Transactions at IMAX

In related news, insider Kenneth Ian Weissman sold 6,309 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $25.51, for a total value of $160,942.59. Following the transaction, the insider now 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Robert D. Lister sold 55,910 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $25.50, for a total transaction of $1,425,705.00. Following the completion of the transaction, the executive vice president now owns 138,889 shares in the company, valued at $3,541,669.50. The trade was a 28.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 65,176 shares of company stock worth $1,662,110 in the last ninety days. Insiders own 24.08% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in IMAX. Hedges Asset Management LLC boosted its position in shares of IMAX by 3.1% in the fourth quarter. Hedges Asset Management LLC now owns 83,600 shares of the company’s stock worth $2,140,000 after purchasing an additional 2,500 shares during the period. Janney Montgomery Scott LLC boosted its holdings in IMAX by 1.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 29,176 shares of the company’s stock worth $747,000 after buying an additional 533 shares during the period. SG Americas Securities LLC purchased a new stake in IMAX in the 4th quarter worth $333,000. Lord Abbett & CO. LLC bought a new stake in IMAX during the third quarter valued at about $6,322,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of IMAX in the third quarter valued at about $1,555,000. 93.51% of the stock is owned by hedge funds and other 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.