IMAX (NYSE:IMAX) Given New $25.00 Price Target at JPMorgan Chase & Co.

IMAX (NYSE:IMAX) had its price objective lifted by equities research analysts at JPMorgan Chase & Co. from $21.00 to $25.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 6.07% from the company’s current price.

Several other analysts also recently issued reports on IMAX. Barrington Research restated an “outperform” rating and issued a $30.00 price objective on shares of IMAX in a research report on Friday, January 10th. Wedbush reiterated an “outperform” rating and set a $32.00 target price on shares of IMAX in a research report on Friday, January 17th. Rosenblatt Securities reiterated a “buy” rating and set a $28.00 target price on shares of IMAX in a research report on Thursday, January 16th. StockNews.com upgraded IMAX from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. Finally, Benchmark reiterated a “buy” rating and set a $30.00 target price on shares of IMAX in a research report on Friday, January 17th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $28.63.

IMAX Stock Down 0.0 %

Shares of NYSE:IMAX opened at $23.57 on Thursday. IMAX has a 52-week low of $13.20 and a 52-week high of $26.84. The stock’s fifty day simple moving average is $24.65 and its 200-day simple moving average is $22.29. The company has a market capitalization of $1.24 billion, a P/E ratio of 53.57, a P/E/G ratio of 1.30 and a beta of 1.24.

IMAX (NYSE:IMAX) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the prior year, the business earned $0.27 earnings per share. The business’s revenue was down 11.9% on a year-over-year basis. On average, sell-side analysts anticipate that IMAX will post 0.74 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Kenneth Ian Weissman sold 6,309 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $25.51, for a total value of $160,942.59. Following the completion of the sale, the insider now owns 25,139 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert D. Lister sold 55,910 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $25.50, for a total value of $1,425,705.00. Following the completion of the sale, the executive vice president now owns 138,889 shares of the company’s stock, valued at approximately $3,541,669.50. This trade represents a 28.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 65,176 shares of company stock worth $1,662,110 over the last three months. 24.08% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in IMAX. FMR LLC grew its position in shares of IMAX by 108.4% in the 3rd quarter. FMR LLC now owns 3,949,643 shares of the company’s stock worth $81,007,000 after acquiring an additional 2,054,031 shares in the last quarter. Lord Abbett & CO. LLC acquired a new position in shares of IMAX in the 3rd quarter worth approximately $6,322,000. Castleark Management LLC acquired a new position in shares of IMAX in the 3rd quarter worth approximately $5,199,000. Pier Capital LLC acquired a new position in shares of IMAX in the 3rd quarter worth approximately $4,221,000. Finally, Victory Capital Management Inc. grew its position in shares of IMAX by 9.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,420,592 shares of the company’s stock worth $29,136,000 after acquiring an additional 127,371 shares in the last quarter. 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.