Imax Corp (IMAX) Given Consensus Recommendation of “Hold” by Analysts

Shares of Imax Corp (NYSE:IMAX) have received a consensus rating of “Hold” from the fourteen brokerages that are covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $29.75.

A number of research analysts have weighed in on IMAX shares. ValuEngine downgraded Imax from a “hold” rating to a “sell” rating in a report on Sunday, December 31st. Piper Jaffray Companies downgraded Imax from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $28.00 to $21.00 in a report on Wednesday, January 10th. Wedbush reissued a “buy” rating and issued a $31.00 target price on shares of Imax in a report on Friday, October 27th. JPMorgan Chase & Co. raised Imax from a “neutral” rating to an “overweight” rating in a report on Friday, October 27th. Finally, B. Riley reissued a “buy” rating and issued a $35.00 target price on shares of Imax in a report on Monday, January 8th.

In other news, insider Mark Welton sold 8,985 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $25.81, for a total value of $231,902.85. Following the transaction, the insider now owns 16,331 shares of the company’s stock, valued at $421,503.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Greg Foster sold 3,566 shares of the firm’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $23.97, for a total value of $85,477.02. Following the completion of the transaction, the chief executive officer now directly owns 74,696 shares in the company, valued at approximately $1,790,463.12. The disclosure for this sale can be found here. Insiders sold 17,050 shares of company stock worth $425,276 in the last ninety days. Corporate insiders own 18.90% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. Sarbit Advisory Services Inc. grew its position in shares of Imax by 69.5% during the fourth quarter. Sarbit Advisory Services Inc. now owns 2,304,361 shares of the company’s stock worth $83,744,000 after purchasing an additional 945,000 shares in the last quarter. Allianz Asset Management GmbH purchased a new stake in shares of Imax during the fourth quarter worth about $1,216,000. Virtu Financial LLC purchased a new stake in shares of Imax during the fourth quarter worth about $402,000. BlackRock Inc. grew its position in shares of Imax by 1.2% during the fourth quarter. BlackRock Inc. now owns 2,543,954 shares of the company’s stock worth $58,891,000 after purchasing an additional 31,318 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Imax by 17.7% during the fourth quarter. Bank of New York Mellon Corp now owns 1,331,903 shares of the company’s stock worth $30,832,000 after purchasing an additional 199,877 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Imax (NYSE:IMAX) traded up $0.57 during mid-day trading on Tuesday, reaching $21.37. The company’s stock had a trading volume of 461,019 shares, compared to its average volume of 1,007,454. Imax has a 52 week low of $17.58 and a 52 week high of $34.60. The company has a market capitalization of $1,340.00, a P/E ratio of 211.20, a price-to-earnings-growth ratio of 1.18 and a beta of 0.93.

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About Imax

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 (NYSE:IMAX)

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