IMAX’s (IMAX) “Outperform” Rating Reaffirmed at Barrington Research

Barrington Research restated their outperform rating on shares of IMAX (NYSE:IMAX) in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has a $30.00 target price on the stock.

Other equities research analysts have also recently issued reports about the stock. StockNews.com raised shares of IMAX from a “hold” rating to a “buy” rating in a research report on Thursday, January 2nd. JPMorgan Chase & Co. boosted their price target on shares of IMAX from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Wedbush reissued an “outperform” rating on shares of IMAX in a research report on Wednesday, November 27th. Roth Mkm boosted their price target on shares of IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Rosenblatt Securities reissued a “buy” rating and set a $28.00 price target on shares of IMAX in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $25.78.

IMAX Trading Down 1.9 %

Shares of NYSE IMAX opened at $23.12 on Friday. The firm has a market cap of $1.22 billion, a PE ratio of 52.55, a PEG ratio of 1.69 and a beta of 1.24. IMAX has a 1-year low of $13.20 and a 1-year high of $26.84. The company has a fifty day moving average price of $25.05 and a 200 day moving average price of $21.60.

IMAX (NYSE:IMAX) last announced its earnings results on Wednesday, October 30th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.12. The firm had revenue of $91.50 million during the quarter, compared to analyst estimates of $93.71 million. IMAX had a net margin of 6.74% and a return on equity of 7.53%. The company’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.27 EPS. Equities research analysts forecast that IMAX will post 0.77 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Natasha Fernandes sold 2,957 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $25.52, for a total transaction of $75,462.64. Following the transaction, the chief financial officer now directly owns 14,883 shares of the company’s stock, valued at approximately $379,814.16. This trade represents a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert D. Lister sold 55,910 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $25.50, for a total transaction of $1,425,705.00. Following the transaction, the executive vice president now directly owns 138,889 shares in the company, valued at $3,541,669.50. This represents a 28.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 65,176 shares of company stock worth $1,662,110 over the last three months. Insiders own 24.08% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Huntington National Bank bought a new position in IMAX in the third quarter valued at approximately $34,000. Headlands Technologies LLC bought a new position in IMAX in the second quarter valued at approximately $35,000. Quarry LP increased its stake in IMAX by 78,333.3% in the third quarter. Quarry LP now owns 2,353 shares of the company’s stock valued at $48,000 after acquiring an additional 2,350 shares during the last quarter. nVerses Capital LLC bought a new position in IMAX in the third quarter valued at approximately $70,000. Finally, US Bancorp DE increased its stake in IMAX by 23.4% in the third quarter. US Bancorp DE now owns 7,656 shares of the company’s stock valued at $157,000 after acquiring an additional 1,452 shares during the last quarter. 93.51% of the stock is owned by institutional investors.

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.