IMAX (NYSE:IMAX) Stock Price Expected to Rise, Barrington Research Analyst Says

IMAX (NYSE:IMAXGet Free Report) had its price objective lifted by investment analysts at Barrington Research from $46.00 to $50.00 in a research report issued on Friday, Marketbeat.com reports. The firm presently has an “outperform” rating on the stock. Barrington Research’s price target suggests a potential upside of 15.71% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. The Goldman Sachs Group reiterated a “neutral” rating and set a $42.00 price target on shares of IMAX in a report on Thursday. JPMorgan Chase & Co. cut their price objective on IMAX from $48.00 to $47.00 and set an “overweight” rating for the company in a research report on Friday, May 1st. Weiss Ratings upgraded IMAX from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Seaport Research Partners reissued a “buy” rating and set a $50.00 target price on shares of IMAX in a report on Wednesday, June 24th. Finally, B. Riley Financial raised their price target on IMAX from $48.00 to $52.00 and gave the company a “buy” rating in a report on Monday, July 20th. Ten research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, IMAX has a consensus rating of “Moderate Buy” and a consensus target price of $50.36.

Get Our Latest Analysis on IMAX

IMAX Trading Down 1.7%

Shares of IMAX opened at $43.21 on Friday. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of 60.02, a PEG ratio of 1.59 and a beta of 0.37. IMAX has a 12 month low of $24.20 and a 12 month high of $45.88. The firm has a fifty day simple moving average of $39.99 and a 200 day simple moving average of $38.03.

IMAX (NYSE:IMAXGet Free Report) last released its earnings results on Thursday, July 23rd. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.13. IMAX had a net margin of 9.84% and a return on equity of 15.65%. The business had revenue of $102.84 million during the quarter, compared to analysts’ expectations of $96.09 million. During the same period last year, the business earned $0.26 earnings per share. The firm’s revenue was up 12.2% on a year-over-year basis. As a group, research analysts predict that IMAX will post 1.3 earnings per share for the current fiscal year.

Insider Transactions at IMAX

In other news, CEO Richard L. Gelfond sold 8,943 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $37.33, for a total transaction of $333,842.19. Following the completion of the sale, the chief executive officer owned 765,002 shares in the company, valued at $28,557,524.66. The trade was a 1.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 20.55% of the stock is owned by company insiders.

Hedge Funds Weigh In On IMAX

A number of large investors have recently made changes to their positions in the company. CIBC Private Wealth Group LLC acquired a new stake in IMAX during the 3rd quarter worth approximately $27,000. Quarry LP grew its holdings in IMAX by 166.8% in the 4th quarter. Quarry LP now owns 875 shares of the company’s stock valued at $32,000 after buying an additional 547 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in IMAX by 2,310.4% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,157 shares of the company’s stock valued at $38,000 after buying an additional 1,109 shares in the last quarter. Torren Management LLC bought a new position in IMAX during the 4th quarter worth $40,000. Finally, Aster Capital Management DIFC Ltd lifted its holdings in shares of IMAX by 863.0% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,666 shares of the company’s stock worth $62,000 after buying an additional 1,493 shares in the last quarter. Institutional investors own 93.51% of the company’s stock.

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IMAX Company Profile

(Get Free Report)

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.

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Analyst Recommendations for IMAX (NYSE:IMAX)

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