IMAX (NYSE:IMAX) Earns “Outperform” Rating from Barrington Research

IMAX (NYSE:IMAX)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Barrington Research in a research note issued on Thursday,Benzinga reports. They currently have a $32.00 price target on the stock. Barrington Research’s target price indicates a potential upside of 33.95% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Benchmark reiterated a “buy” rating and issued a $30.00 price objective on shares of IMAX in a report on Thursday, April 10th. Wedbush reissued an “outperform” rating and issued a $32.00 price target on shares of IMAX in a report on Thursday, April 17th. JPMorgan Chase & Co. dropped their price objective on IMAX from $27.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Macquarie increased their target price on IMAX from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Finally, Wells Fargo & Company lifted their price target on shares of IMAX from $26.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $30.56.

IMAX Price Performance

NYSE IMAX opened at $23.89 on Thursday. The company has a 50-day moving average of $24.70 and a 200-day moving average of $24.30. IMAX has a 12 month low of $14.94 and a 12 month high of $27.77. The company has a market cap of $1.27 billion, a P/E ratio of 48.76, a P/E/G ratio of 1.49 and a beta of 0.91.

IMAX (NYSE:IMAX) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.14). The firm had revenue of $92.67 million during the quarter, compared to analysts’ expectations of $104.08 million. IMAX had a return on equity of 8.60% and a net margin of 7.40%. As a group, equities research analysts anticipate that IMAX will post 0.91 EPS for the current year.

Hedge Funds Weigh In On IMAX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC grew its position in shares of IMAX by 1.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 29,176 shares of the company’s stock valued at $747,000 after purchasing an additional 533 shares during the last quarter. Blue Trust Inc. grew its holdings in IMAX by 138.5% in the 4th quarter. Blue Trust Inc. now owns 966 shares of the company’s stock valued at $25,000 after buying an additional 561 shares during the last quarter. Mission Wealth Management LP increased its position in IMAX by 2.9% in the 1st quarter. Mission Wealth Management LP now owns 30,408 shares of the company’s stock worth $801,000 after buying an additional 845 shares during the period. MetLife Investment Management LLC lifted its holdings in shares of IMAX by 3.4% during the fourth quarter. MetLife Investment Management LLC now owns 25,918 shares of the company’s stock worth $664,000 after buying an additional 848 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of IMAX by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,395 shares of the company’s stock valued at $625,000 after acquiring an additional 905 shares during the period. Institutional investors 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.