Rosenblatt Securities Reiterates “Buy” Rating for IMAX (NYSE:IMAX)

IMAX (NYSE:IMAX)‘s stock had its “buy” rating reaffirmed by research analysts at Rosenblatt Securities in a research note issued on Monday,Benzinga reports. They presently have a $47.00 price objective on the stock. Rosenblatt Securities’ target price points to a potential upside of 24.39% from the company’s current price.

A number of other analysts also recently issued reports on the company. Wedbush reiterated an “outperform” rating and set a $46.00 price target on shares of IMAX in a research report on Thursday, April 23rd. Barrington Research upped their price objective on shares of IMAX from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $41.00 target price (down from $47.00) on shares of IMAX in a research note on Thursday, July 16th. Wall Street Zen lowered shares of IMAX from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings raised shares of IMAX from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Nine investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $47.30.

IMAX Stock Performance

Shares of IMAX stock opened at $37.78 on Monday. The company has a market capitalization of $2.08 billion, a PE ratio of 58.13, a price-to-earnings-growth ratio of 1.41 and a beta of 0.37. IMAX has a 52-week low of $24.20 and a 52-week high of $45.52. The business’s fifty day moving average is $39.49 and its 200 day moving average is $37.92.

IMAX (NYSE:IMAX) last posted its earnings results on Thursday, April 30th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.15 by $0.02. The business had revenue of $81.38 million during the quarter, compared to analysts’ expectations of $79.82 million. IMAX had a return on equity of 13.61% and a net margin of 9.08%.The firm’s revenue was down 6.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.13 earnings per share. On average, sell-side analysts forecast that IMAX will post 1.3 EPS for the current fiscal year.

Insiders Place Their Bets

In other IMAX news, CEO Richard L. Gelfond sold 8,943 shares of the company’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 value of $333,842.19. Following the completion of the sale, the chief executive officer owned 765,002 shares of the company’s stock, valued at $28,557,524.66. This represents a 1.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 20.55% of the stock is owned by insiders.

Institutional Investors Weigh In On IMAX

Hedge funds have recently made changes to their positions in the business. Orbis Allan Gray Ltd boosted its stake in shares of IMAX by 31.7% in the 2nd quarter. Orbis Allan Gray Ltd now owns 5,113,033 shares of the company’s stock valued at $142,960,000 after purchasing an additional 1,230,267 shares in the last quarter. Westfield Capital Management Co. LP raised its position in IMAX by 44.6% in the 4th quarter. Westfield Capital Management Co. LP now owns 2,346,486 shares of the company’s stock worth $86,726,000 after purchasing an additional 723,861 shares during the period. Dimensional Fund Advisors LP raised its position in IMAX by 1.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,237,230 shares of the company’s stock worth $47,026,000 after purchasing an additional 23,401 shares during the period. Nantahala Capital Management LLC lifted its stake in IMAX by 24.9% in the second quarter. Nantahala Capital Management LLC now owns 1,133,993 shares of the company’s stock worth $31,706,000 after purchasing an additional 225,742 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in IMAX by 1.9% in the fourth quarter. Victory Capital Management Inc. now owns 1,104,071 shares of the company’s stock worth $40,806,000 after purchasing an additional 20,079 shares during the last quarter. 93.51% of the stock is currently owned by institutional investors.

Key Headlines Impacting IMAX

Here are the key news stories impacting IMAX this week:

• Positive Sentiment: Multiple reports say The Odyssey is breaking IMAX-related box office and opening-weekend records, with audiences showing strong demand for IMAX 70mm screenings. That kind of headline momentum can support investor confidence in IMAX’s premium-ticket strategy and theater network. Article Title
• Positive Sentiment: IMAX CEO Richard Gelfond described a “frenzy” around the film’s success, reinforcing the view that IMAX can benefit when major directors and event films prioritize its format. Article Title
• Positive Sentiment: IMAX and CGV announced three more IMAX with Laser upgrades in Vietnam, extending the company’s footprint in a fast-growing market and signaling continued international expansion. Article Title
• Neutral Sentiment: Several articles focus on the technical appeal of IMAX 70mm and the exclusive experience it offers, which is positive for brand strength but doesn’t immediately change near-term financials. Article Title
• Neutral Sentiment: Rosenblatt reaffirmed a Buy rating and set a $47 price target, suggesting upside from current levels, but this is more of a valuation/supportive note than a new catalyst. Article Title
• Negative Sentiment: One piece argues IMAX stock may be “fully priced” after a sharp run, which could temper enthusiasm if investors think the recent momentum from The Odyssey is already reflected in the share price. Article Title

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.