Barrington Research Raises IMAX (NYSE:IMAX) Price Target to $42.00

IMAX (NYSE:IMAX) had its price objective boosted by analysts at Barrington Research from $37.00 to $42.00 in a research note issued on Monday, MarketBeat reports. The firm presently has an “outperform” rating on the stock. Barrington Research’s price target points to a potential upside of 10.32% from the company’s current price.

IMAX has been the subject of several other reports. Rosenblatt Securities reiterated a “buy” rating and issued a $42.00 price objective on shares of IMAX in a report on Friday, October 24th. Weiss Ratings reissued a “buy (b)” rating on shares of IMAX in a research note on Monday, December 1st. Wells Fargo & Company raised their target price on IMAX from $34.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. Roth Capital raised their price objective on shares of IMAX from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, October 14th. Finally, Wedbush boosted their target price on shares of IMAX from $35.00 to $39.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $39.30.

IMAX Stock Performance

Shares of IMAX stock opened at $38.07 on Monday. The firm has a market capitalization of $2.05 billion, a PE ratio of 53.62, a price-to-earnings-growth ratio of 2.36 and a beta of 0.41. IMAX has a 1 year low of $20.48 and a 1 year high of $38.89. The stock has a fifty day moving average of $34.04 and a two-hundred day moving average of $30.27.

IMAX (NYSE:IMAX) last posted its quarterly earnings data on Thursday, October 23rd. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.16. The business had revenue of $106.65 million during the quarter, compared to the consensus estimate of $102.88 million. IMAX had a net margin of 10.47% and a return on equity of 9.91%. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.35 earnings per share. Equities research analysts predict that IMAX will post 0.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In other IMAX news, VP Robert D. Lister sold 50,143 shares of IMAX stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $34.67, for a total transaction of $1,738,457.81. Following the transaction, the vice president directly owned 161,421 shares in the company, valued at approximately $5,596,466.07. The trade was a 23.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Giovanni M. Dolci sold 6,188 shares of the stock in a transaction on Monday, November 10th. The shares were sold at an average price of $34.25, for a total value of $211,939.00. Following the completion of the sale, the executive vice president owned 33,000 shares of the company’s stock, valued at $1,130,250. The trade was a 15.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 76,331 shares of company stock worth $2,606,397 in the last 90 days. 24.08% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of IMAX. CIBC Private Wealth Group LLC purchased a new position in IMAX during the 3rd quarter valued at about $27,000. TD Waterhouse Canada Inc. increased its stake in IMAX by 125.0% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 900 shares of the company’s stock valued at $25,000 after buying an additional 500 shares during the period. Jones Financial Companies Lllp lifted its position in IMAX by 43.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,041 shares of the company’s stock worth $34,000 after buying an additional 317 shares in the last quarter. First Horizon Corp acquired a new stake in shares of IMAX during the 3rd quarter valued at $34,000. Finally, Clearstead Advisors LLC acquired a new stake in shares of IMAX during the 3rd quarter valued at $35,000. 93.51% of the stock is owned by institutional investors and hedge funds.

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.