IMAX (NYSE:IMAX) Given New $28.00 Price Target at Roth Mkm

IMAX (NYSE:IMAX) had its target price lifted by stock analysts at Roth Mkm from $27.00 to $28.00 in a report released on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Roth Mkm’s target price suggests a potential upside of 16.23% from the company’s previous close.

A number of other research firms have also commented on IMAX. Wedbush lifted their target price on IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, September 3rd. Rosenblatt Securities reiterated a “buy” rating and set a $28.00 target price on shares of IMAX in a research report on Thursday. Macquarie lifted their target price on IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Seaport Res Ptn upgraded IMAX to a “strong-buy” rating in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. increased their price target on IMAX from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, IMAX presently has a consensus rating of “Moderate Buy” and an average target price of $24.22.

IMAX Price Performance

IMAX stock traded up $2.41 on Thursday, reaching $24.09. 2,009,400 shares of the company traded hands, compared to its average volume of 768,682. IMAX has a one year low of $13.20 and a one year high of $24.33. The company has a market cap of $1.27 billion, a P/E ratio of 50.06, a price-to-earnings-growth ratio of 1.52 and a beta of 1.25. The firm has a fifty day simple moving average of $20.63 and a 200-day simple moving average of $18.60.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. purchased a new position in IMAX during the 4th quarter worth $33,000. Headlands Technologies LLC purchased a new position in IMAX during the 2nd quarter worth $35,000. nVerses Capital LLC purchased a new position in IMAX during the 3rd quarter worth $70,000. Summit Securities Group LLC purchased a new position in IMAX during the 2nd quarter worth $80,000. Finally, Laurus Investment Counsel Inc. bought a new stake in IMAX during the 2nd quarter valued at $150,000. 93.51% of the stock is currently 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.