IMAX Co. (NYSE:IMAX) Receives $25.11 Average Price Target from Analysts

Shares of IMAX Co. (NYSE:IMAX) have been given an average rating of “Moderate Buy” by the ten analysts that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $25.11.

Several equities analysts have recently commented on the stock. Roth Mkm boosted their price target on shares of IMAX from $27.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Barrington Research restated an “outperform” rating and issued a $24.00 price target on shares of IMAX in a research report on Thursday, October 31st. StockNews.com cut IMAX from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. Rosenblatt Securities reiterated a “buy” rating and set a $28.00 target price on shares of IMAX in a research report on Thursday, October 31st. Finally, Benchmark increased their price target on shares of IMAX from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, December 13th.

Insider Buying and Selling

In other IMAX news, CFO Natasha Fernandes sold 2,957 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $25.52, for a total transaction 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 approximately $379,814.16. The trade was a 16.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kenneth Ian Weissman sold 6,309 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $25.51, for a total transaction of $160,942.59. Following the completion of the transaction, the insider now owns 25,139 shares in the company, valued at $641,295.89. The trade was a 20.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 65,176 shares of company stock worth $1,662,110. Insiders own 24.08% of the company’s stock.

Institutional Investors Weigh In On IMAX

Several institutional investors and hedge funds have recently modified their holdings of IMAX. FMR LLC lifted its position in IMAX by 108.4% in the third quarter. FMR LLC now owns 3,949,643 shares of the company’s stock worth $81,007,000 after buying an additional 2,054,031 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of IMAX by 33.1% during the second quarter. Victory Capital Management Inc. now owns 1,293,221 shares of the company’s stock worth $21,687,000 after purchasing an additional 321,506 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of IMAX during the third quarter worth about $6,322,000. Bank of New York Mellon Corp lifted its stake in shares of IMAX by 90.6% during the second quarter. Bank of New York Mellon Corp now owns 587,694 shares of the company’s stock worth $9,856,000 after buying an additional 279,410 shares during the period. Finally, Castleark Management LLC purchased a new stake in IMAX during the 3rd quarter valued at about $5,199,000. Institutional investors own 93.51% of the company’s stock.

IMAX Stock Down 1.3 %

Shares of NYSE IMAX opened at $24.52 on Friday. IMAX has a 52-week low of $13.20 and a 52-week high of $26.84. The stock’s 50 day moving average price is $24.00 and its two-hundred day moving average price is $20.72. The stock has a market capitalization of $1.29 billion, a P/E ratio of 55.73, a PEG ratio of 1.69 and a beta of 1.23.

IMAX (NYSE:IMAX) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.12. IMAX had a net margin of 6.74% and a return on equity of 7.53%. The business had revenue of $91.50 million during the quarter, compared to the consensus estimate of $93.71 million. During the same quarter in the prior year, the company posted $0.27 earnings per share. The company’s quarterly revenue was down 11.9% compared to the same quarter last year. On average, analysts anticipate that IMAX will post 0.77 EPS for the current year.

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.