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

Benchmark reiterated their buy rating on shares of IMAX (NYSE:IMAX) in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have a $22.00 price objective on the stock.

Several other research firms have also commented on IMAX. JPMorgan Chase & Co. reduced their price objective on IMAX from $20.00 to $17.00 and set a neutral rating for the company in a research note on Tuesday, February 6th. Barrington Research restated an outperform rating and issued a $24.00 price objective on shares of IMAX in a research note on Wednesday, February 28th. The Goldman Sachs Group cut their price target on IMAX from $15.00 to $13.00 and set a sell rating for the company in a research note on Thursday, January 11th. StockNews.com lowered IMAX from a buy rating to a hold rating in a research note on Saturday, January 27th. Finally, Rosenblatt Securities cut their price target on IMAX from $30.00 to $25.00 and set a buy rating for the company in a research note on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, IMAX has an average rating of Moderate Buy and a consensus price target of $20.57.

IMAX Trading Up 0.2 %

Shares of IMAX opened at $17.10 on Tuesday. The firm has a market cap of $905.45 million, a PE ratio of 37.17, a P/E/G ratio of 1.52 and a beta of 1.25. The firm has a fifty day simple moving average of $16.07 and a two-hundred day simple moving average of $16.16. IMAX has a 1-year low of $13.20 and a 1-year high of $21.82.

IMAX (NYSE:IMAX) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.05 by $0.12. The firm had revenue of $86.02 million during the quarter, compared to analyst estimates of $85.83 million. IMAX had a return on equity of 9.59% and a net margin of 6.76%. IMAX’s revenue was down 12.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.05 EPS. As a group, research analysts forecast that IMAX will post 0.55 EPS for the current fiscal year.

Insider Buying and Selling at IMAX

In other IMAX news, VP Robert D. Lister sold 25,000 shares of the 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 completion of the transaction, the vice president now owns 138,889 shares of the company’s stock, valued at approximately $2,343,057.43. The transaction 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 Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. bought a new position in shares of IMAX during the 4th quarter valued at about $33,000. Tower Research Capital LLC TRC lifted its holdings in shares of IMAX by 164.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,260 shares of the company’s stock valued at $46,000 after acquiring an additional 2,029 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of IMAX in the 4th quarter valued at about $65,000. Tower Research Capital LLC TRC lifted its holdings in shares of IMAX by 545.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the company’s stock valued at $75,000 after acquiring an additional 4,218 shares during the last quarter. Finally, Partnership Wealth Management LLC bought a new position in shares of IMAX in the 4th quarter valued at about $111,000. 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.