IMAX (NYSE:IMAX) Stock Rating Reaffirmed by Wedbush

IMAX (NYSE:IMAX)‘s stock had its “outperform” rating reaffirmed by analysts at Wedbush in a research note issued to investors on Friday, Benzinga reports. They presently have a $22.00 target price on the stock. Wedbush’s target price indicates a potential upside of 28.21% from the company’s previous close.

Several other research analysts have also weighed in on the company. The Goldman Sachs Group lowered their price objective on IMAX from $15.00 to $13.00 and set a “sell” rating for the company in a research report on Thursday, January 11th. B. Riley cut their target price on shares of IMAX from $27.00 to $21.00 and set a “buy” rating on the stock in a research note on Tuesday, January 2nd. StockNews.com lowered shares of IMAX from a “buy” rating to a “hold” rating in a report on Saturday, January 27th. JPMorgan Chase & Co. decreased their target price on IMAX from $20.00 to $17.00 and set a “neutral” rating for the company in a research report on Tuesday, February 6th. Finally, Benchmark reiterated a “buy” rating and issued a $22.00 price target on shares of IMAX in a report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, IMAX currently has an average rating of “Moderate Buy” and a consensus target price of $20.57.

IMAX Trading Down 1.7 %

NYSE:IMAX traded down $0.30 on Friday, hitting $17.16. The company had a trading volume of 535,111 shares, compared to its average volume of 858,014. The firm has a 50 day moving average of $16.31 and a two-hundred day moving average of $16.09. The stock has a market capitalization of $908.62 million, a price-to-earnings ratio of 37.28, a PEG ratio of 1.55 and a beta of 1.25. IMAX has a 52 week low of $13.20 and a 52 week high of $21.82.

IMAX (NYSE:IMAX) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.05. The firm had revenue of $79.12 million for the quarter, compared to analyst estimates of $77.88 million. IMAX had a return on equity of 9.59% and a net margin of 6.76%. As a group, equities analysts forecast that IMAX will post 0.57 EPS for the current year.

Insider Activity

In other news, VP Robert D. Lister sold 25,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $16.87, for a total transaction of $421,750.00. Following the sale, the vice president now directly owns 138,889 shares in the company, valued at $2,343,057.43. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 24.33% of the company’s stock.

Hedge Funds Weigh In On IMAX

A number of institutional investors have recently made changes to their positions in the stock. Equitable Trust Co. grew its position in IMAX by 12.3% during the first quarter. Equitable Trust Co. now owns 40,710 shares of the company’s stock valued at $658,000 after acquiring an additional 4,455 shares during the last quarter. Hedges Asset Management LLC bought a new stake in shares of IMAX in the first quarter worth about $1,344,000. Assenagon Asset Management S.A. bought a new stake in IMAX in the first quarter valued at $222,000. Private Capital Management LLC boosted its stake in shares of IMAX by 54.3% during the 4th quarter. Private Capital Management LLC now owns 1,185,715 shares of the company’s stock valued at $17,809,000 after purchasing an additional 417,169 shares in the last quarter. Finally, Partnership Wealth Management LLC lifted its holdings in IMAX by 63.1% in the first quarter. Partnership Wealth Management LLC now owns 12,932 shares of the company’s stock worth $209,000 after buying an additional 5,005 shares during the period. Institutional investors own 93.51% of the company’s stock.

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.