Imax Corporation (NYSE:IMAX) has been given a $29.00 price objective by Wedbush in a research report issued on Thursday. The firm presently has a “buy” rating on the stock. Wedbush’s target price points to a potential upside of 36.15% from the stock’s current price.

Several other equities analysts also recently issued reports on the company. B. Riley set a $35.00 price objective on Imax Corporation and gave the stock a “buy” rating in a research report on Thursday. BidaskClub downgraded Imax Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, October 12th. Zacks Investment Research downgraded Imax Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. Credit Suisse Group cut their target price on Imax Corporation from $26.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, September 28th. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $28.00 target price on shares of Imax Corporation in a research report on Sunday, September 17th. Three analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $32.00.

Shares of Imax Corporation (IMAX) traded up 1.91% during trading on Thursday, hitting $21.30. The stock had a trading volume of 498,152 shares. The firm has a market cap of $1.38 billion, a P/E ratio of 133.12 and a beta of 1.00. The firm’s 50-day moving average is $21.56 and its 200-day moving average is $23.98. Imax Corporation has a one year low of $17.58 and a one year high of $35.30.

Imax Corporation (NYSE:IMAX) last issued its quarterly earnings data on Wednesday, July 26th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.17. The business had revenue of $87.76 million during the quarter, compared to the consensus estimate of $89.26 million. Imax Corporation had a return on equity of 2.39% and a net margin of 2.81%. The business’s revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.18 earnings per share. Equities research analysts forecast that Imax Corporation will post $0.57 EPS for the current year.

TRADEMARK VIOLATION NOTICE: “Imax Corporation (IMAX) Given a $29.00 Price Target by Wedbush Analysts” was posted by American Banking News and is the sole property of of American Banking News. If you are reading this news story on another domain, it was illegally copied and republished in violation of U.S. & international copyright and trademark legislation. The original version of this news story can be read at https://www.americanbankingnews.com/2017/10/22/imax-corporation-imax-given-a-29-00-price-target-by-wedbush-analysts.html.

In related news, CEO Greg Foster sold 9,417 shares of the company’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $19.55, for a total value of $184,102.35. Following the completion of the sale, the chief executive officer now directly owns 67,018 shares in the company, valued at $1,310,201.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Patrick Mcclymont sold 1,760 shares of the company’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $20.50, for a total transaction of $36,080.00. The disclosure for this sale can be found here. Insiders own 18.90% of the company’s stock.

Large investors have recently modified their holdings of the stock. Paloma Partners Management Co bought a new stake in Imax Corporation in the first quarter worth $1,504,000. North Star Investment Management Corp. boosted its holdings in Imax Corporation by 1,000.0% during the second quarter. North Star Investment Management Corp. now owns 38,500 shares of the company’s stock valued at $847,000 after acquiring an additional 35,000 shares during the period. Eagle Asset Management Inc. boosted its holdings in Imax Corporation by 26.2% during the second quarter. Eagle Asset Management Inc. now owns 197,641 shares of the company’s stock valued at $4,348,000 after acquiring an additional 40,991 shares during the period. Pembroke Management LTD bought a new stake in Imax Corporation during the second quarter valued at about $19,949,000. Finally, Denver Investment Advisors LLC boosted its holdings in Imax Corporation by 8.3% during the second quarter. Denver Investment Advisors LLC now owns 26,265 shares of the company’s stock valued at $578,000 after acquiring an additional 2,015 shares during the period. Hedge funds and other institutional investors own 83.36% of the company’s stock.

Imax Corporation Company Profile

IMAX Corporation is an entertainment technology company. The Company operates through seven segments: IMAX systems; theater system maintenance; joint revenue sharing arrangements; film production and IMAX DMR; film distribution; film post-production, and other. The IMAX systems segment designs, manufactures, sells or leases IMAX theater projection system equipment.

Analyst Recommendations for Imax Corporation (NYSE:IMAX)

Receive News & Ratings for Imax Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Imax Corporation and related companies with MarketBeat.com's FREE daily email newsletter.