IMAX Corporation (NYSE:IMAX) Receives Consensus Rating of “Moderate Buy” from Brokerages

IMAX Corporation (NYSE:IMAX) has been assigned a consensus rating of “Moderate Buy” from the eleven research firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $42.70.

Several equities analysts have issued reports on the stock. B. Riley Financial reaffirmed a “buy” rating on shares of IMAX in a report on Monday, December 8th. The Goldman Sachs Group upgraded IMAX from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $22.00 to $34.00 in a research note on Tuesday, November 25th. Wedbush increased their price target on IMAX from $39.00 to $46.00 and gave the company an “outperform” rating in a research note on Monday, December 8th. Weiss Ratings reissued a “buy (b)” rating on shares of IMAX in a report on Monday, December 29th. Finally, Rosenblatt Securities upped their price objective on shares of IMAX from $42.00 to $47.00 and gave the company a “buy” rating in a report on Monday, December 8th.

IMAX Stock Performance

IMAX stock opened at $35.40 on Friday. IMAX has a one year low of $20.48 and a one year high of $39.98. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 49.85, a PEG ratio of 1.80 and a beta of 0.38. The firm has a 50-day simple moving average of $36.39 and a two-hundred day simple moving average of $33.02.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in IMAX. Westfield Capital Management Co. LP purchased a new stake in shares of IMAX during the third quarter valued at $53,141,000. Orbis Allan Gray Ltd lifted its position in IMAX by 31.7% during the 2nd quarter. Orbis Allan Gray Ltd now owns 5,113,033 shares of the company’s stock worth $142,960,000 after acquiring an additional 1,230,267 shares during the period. Divisadero Street Capital Management LP purchased a new stake in IMAX during the 3rd quarter valued at about $20,975,000. Marsico Capital Management LLC acquired a new position in shares of IMAX in the fourth quarter valued at about $18,149,000. Finally, Balyasny Asset Management L.P. purchased a new position in shares of IMAX in the second quarter worth about $12,568,000. Hedge funds and other institutional investors own 93.51% of the company’s stock.

About IMAX

IMAX Corporation is a global leader in immersive entertainment technologies, specializing in the design, manufacture and distribution of high-resolution cameras, projectors, and proprietary software solutions that enhance both film production and theatrical exhibition. The company licenses its premium large-format system to theatre owners and filmmakers around the world, enabling audiences to experience movies with greater clarity, scale and sound fidelity. IMAX also offers turnkey theatre development services, assisting cinema operators with auditorium design, installation and custom branding to optimize the customer experience.

Founded in 1967 and headquartered in Mississauga, Ontario, IMAX has built a reputation for pioneering film-format innovations, including its patented dual 15-perforation, 70-millimeter projection system.