IMAX’s (IMAX) “Buy” Rating Reiterated at Benchmark

Benchmark restated their buy rating on shares of IMAX (NYSE:IMAX) in a report issued on Friday morning, Benzinga reports. They currently have a $22.00 price objective on the stock.

Several other research firms have also commented on IMAX. Wedbush reiterated an outperform rating and set a $22.00 price target on shares of IMAX in a report on Friday. Barrington Research restated an outperform rating and issued a $24.00 price objective on shares of IMAX in a report on Monday, April 22nd. JPMorgan Chase & Co. reduced their price objective on shares of IMAX from $20.00 to $17.00 and set a neutral rating on the stock in a report on Tuesday, February 6th. StockNews.com lowered shares of IMAX from a buy rating to a hold rating in a report on Saturday, January 27th. Finally, B. Riley reduced their price objective on shares of IMAX from $27.00 to $21.00 and set a buy rating on the stock in a report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, IMAX currently has an average rating of Moderate Buy and a consensus price target of $20.57.

IMAX Stock Down 1.8 %

NYSE IMAX opened at $17.15 on Friday. IMAX has a 52 week low of $13.20 and a 52 week high of $21.82. The business’s fifty day simple moving average is $16.37 and its 200-day simple moving average is $16.10. The firm has a market cap of $908.09 million, a PE ratio of 35.71, a P/E/G ratio of 1.53 and a beta of 1.25.

IMAX (NYSE:IMAX) last posted its quarterly earnings results on Thursday, April 25th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.03 by $0.05. IMAX had a return on equity of 9.37% and a net margin of 7.13%. The business had revenue of $79.12 million for the quarter, compared to analyst estimates of $77.88 million. Research analysts expect that IMAX will post 0.57 EPS for the current year.

Insiders Place Their Bets

In other IMAX news, VP Robert D. Lister sold 25,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 24.33% of the company’s stock.

Institutional Trading of IMAX

A number of institutional investors and hedge funds have recently bought and sold shares of IMAX. SG Americas Securities LLC acquired a new position in shares of IMAX during the third quarter worth about $139,000. Raymond James Financial Services Advisors Inc. grew its position in shares of IMAX by 86.5% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 24,824 shares of the company’s stock worth $480,000 after buying an additional 11,516 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of IMAX by 41.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,531 shares of the company’s stock worth $242,000 after buying an additional 3,682 shares in the last quarter. Knights of Columbus Asset Advisors LLC grew its position in shares of IMAX by 9.7% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 227,058 shares of the company’s stock worth $4,387,000 after buying an additional 20,132 shares in the last quarter. Finally, Arizona State Retirement System grew its position in shares of IMAX by 8.9% during the third quarter. Arizona State Retirement System now owns 13,212 shares of the company’s stock worth $255,000 after buying an additional 1,085 shares in the last quarter. 93.51% of the stock is currently owned by hedge funds and other 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.