IMAX (NYSE:IMAX) Earns “Buy” Rating from Benchmark

Benchmark restated their buy rating on shares of IMAX (NYSE:IMAX) in a research report released on Friday morning, Benzinga reports. The firm currently has a $22.00 price target on the stock.

IMAX has been the subject of a number of other reports. JPMorgan Chase & Co. dropped their price target on shares of IMAX from $20.00 to $17.00 and set a neutral rating for the company in a research report on Tuesday, February 6th. The Goldman Sachs Group reduced their target price on IMAX from $15.00 to $13.00 and set a sell rating on the stock in a report on Thursday, January 11th. Rosenblatt Securities cut their price objective on shares of IMAX from $30.00 to $25.00 and set a buy rating for the company in a research report on Tuesday, February 13th. Barrington Research restated an outperform rating and issued a $24.00 target price on shares of IMAX in a research report on Monday, April 22nd. Finally, B. Riley reduced their price target on shares of IMAX from $27.00 to $21.00 and set a buy rating on the stock in a research report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $20.57.

IMAX Price Performance

Shares of IMAX stock opened at $17.15 on Friday. The stock has a market cap of $908.09 million, a P/E ratio of 35.73, a P/E/G ratio of 1.50 and a beta of 1.25. The company has a fifty day moving average price of $16.41 and a two-hundred day moving average price of $16.04. IMAX has a one year low of $13.20 and a one year high of $21.82.

IMAX (NYSE:IMAX) last issued its quarterly earnings data on Thursday, April 25th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.05. IMAX had a net margin of 7.13% and a return on equity of 9.37%. The company had revenue of $79.12 million for the quarter, compared to analyst estimates of $77.88 million. As a group, equities research analysts anticipate that IMAX will post 0.57 EPS for the current fiscal year.

Insider Activity at IMAX

In other IMAX news, VP Robert D. Lister sold 25,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $16.87, for a total value of $421,750.00. Following the completion of the sale, the vice president now directly owns 138,889 shares in the company, valued at $2,343,057.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 24.33% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. acquired a new position in shares of IMAX during the fourth quarter worth approximately $33,000. Tower Research Capital LLC TRC raised its holdings in IMAX by 545.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the company’s stock worth $75,000 after buying an additional 4,218 shares during the last quarter. SG Americas Securities LLC acquired a new position in IMAX during the third quarter worth $139,000. Partnership Wealth Management LLC bought a new position in shares of IMAX in the fourth quarter valued at $111,000. Finally, C M Bidwell & Associates Ltd. acquired a new position in shares of IMAX during the third quarter valued at about $160,000. Institutional investors own 93.51% of the company’s stock.

About IMAX

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.