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

Benchmark reissued their buy rating on shares of IMAX (NYSE:IMAX) in a research note released on Tuesday, Benzinga reports. Benchmark currently has a $22.00 price objective on the stock.

A number of other research analysts have also recently issued reports on IMAX. B. Riley decreased their price objective on shares of IMAX from $27.00 to $21.00 and set a buy rating for the company in a report on Tuesday, January 2nd. Rosenblatt Securities decreased their price target on shares of IMAX from $30.00 to $25.00 and set a buy rating for the company in a report on Tuesday, February 13th. Wedbush reaffirmed an outperform rating and set a $22.00 price objective on shares of IMAX in a research note on Wednesday, April 10th. The Goldman Sachs Group decreased their target price on IMAX from $15.00 to $13.00 and set a sell rating for the company in a research note on Thursday, January 11th. Finally, Barrington Research reaffirmed an outperform rating and set a $24.00 price target on shares of IMAX in a research report on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $20.57.

IMAX Trading Up 0.1 %

Shares of NYSE IMAX opened at $17.14 on Tuesday. IMAX has a 1 year low of $13.20 and a 1 year high of $21.82. The firm’s 50-day moving average is $16.13 and its 200-day moving average is $16.14. The firm has a market capitalization of $907.30 million, a PE ratio of 37.25, a price-to-earnings-growth ratio of 1.55 and a beta of 1.25.

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

Insider Transactions at IMAX

In related news, VP Robert D. Lister sold 25,000 shares of IMAX stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $16.87, for a total value of $421,750.00. Following the sale, the vice president now owns 138,889 shares of the company’s stock, valued at approximately $2,343,057.43. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 24.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc boosted its stake in shares of IMAX by 1.4% during the 4th quarter. Legal & General Group Plc now owns 43,759 shares of the company’s stock worth $642,000 after buying an additional 613 shares during the last quarter. SRS Capital Advisors Inc. boosted its position in IMAX by 11.1% during the first quarter. SRS Capital Advisors Inc. now owns 6,492 shares of the company’s stock valued at $125,000 after purchasing an additional 650 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in IMAX by 8.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,929 shares of the company’s stock valued at $165,000 after purchasing an additional 806 shares in the last quarter. Becker Capital Management Inc. increased its position in shares of IMAX by 0.3% during the 1st quarter. Becker Capital Management Inc. now owns 241,941 shares of the company’s stock worth $4,640,000 after purchasing an additional 834 shares during the last quarter. Finally, Sei Investments Co. raised its stake in shares of IMAX by 0.6% during the 2nd quarter. Sei Investments Co. now owns 151,871 shares of the company’s stock worth $2,580,000 after purchasing an additional 943 shares in the last quarter. Institutional investors own 93.51% of the company’s stock.

About IMAX

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.