IMAX’s (IMAX) Buy Rating Reaffirmed at Benchmark

IMAX (NYSE:IMAX)‘s stock had its “buy” rating reaffirmed by research analysts at Benchmark in a research report issued on Friday, Benzinga reports. They presently have a $22.00 price target on the stock. Benchmark’s price target would indicate a potential upside of 28.81% from the stock’s previous close.

Several other research firms also recently weighed in on IMAX. Barrington Research reiterated an “outperform” rating and set a $24.00 target price on shares of IMAX in a research report on Monday. JPMorgan Chase & Co. lowered their price objective on IMAX from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 6th. The Goldman Sachs Group lowered their price objective on IMAX from $15.00 to $13.00 and set a “sell” rating on the stock in a research report on Thursday, January 11th. Rosenblatt Securities lowered their price objective on IMAX from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, February 13th. Finally, B. Riley lowered their price objective on IMAX from $27.00 to $21.00 and set a “buy” rating on the stock in a research report on Tuesday, January 2nd. 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 has an average rating of “Moderate Buy” and an average price target of $20.57.

IMAX Price Performance

Shares of IMAX traded down $0.38 during trading hours on Friday, hitting $17.08. The stock had a trading volume of 963,231 shares, compared to its average volume of 862,395. IMAX has a 12 month low of $13.20 and a 12 month high of $21.82. The firm has a market capitalization of $904.39 million, a PE ratio of 37.15, a PEG ratio of 1.55 and a beta of 1.25. The stock has a fifty day moving average price of $16.31 and a 200 day moving average price of $16.09.

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

Insider Activity at IMAX

In related news, VP Robert D. Lister sold 25,000 shares of the business’s 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 completion of the sale, the vice president now owns 138,889 shares in the company, valued at $2,343,057.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 24.33% of the stock is owned by company insiders.

Institutional Trading of IMAX

Hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. purchased a new stake in IMAX during the fourth quarter worth $33,000. Tower Research Capital LLC TRC grew its position in IMAX by 545.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the company’s stock worth $75,000 after purchasing an additional 4,218 shares during the period. Partnership Wealth Management LLC acquired a new stake in shares of IMAX during the 4th quarter valued at about $111,000. SG Americas Securities LLC acquired a new stake in shares of IMAX during the 3rd quarter valued at about $139,000. Finally, C M Bidwell & Associates Ltd. acquired a new stake in shares of IMAX during the 3rd quarter valued at about $160,000. Hedge funds and other 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.