IMAX (NYSE:IMAX) Given Outperform Rating at Wedbush

IMAX (NYSE:IMAX)‘s stock had its “outperform” rating restated by Wedbush in a research report issued on Monday,Benzinga reports. They currently have a $46.00 price target on the stock. Wedbush’s price target points to a potential upside of 21.66% from the company’s current price.

Several other equities research analysts have also recently commented on the stock. The Goldman Sachs Group raised shares of IMAX from a “sell” rating to a “neutral” rating and upped their price target for the company from $22.00 to $34.00 in a report on Tuesday, November 25th. Barrington Research reissued an “outperform” rating and set a $42.00 target price on shares of IMAX in a research note on Monday, January 26th. Rosenblatt Securities lifted their price target on shares of IMAX from $42.00 to $47.00 and gave the stock a “buy” rating in a research report on Monday, December 8th. Wells Fargo & Company increased their price objective on IMAX from $40.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, December 18th. Finally, JPMorgan Chase & Co. raised IMAX from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $32.00 to $47.00 in a research report on Monday, December 15th. Ten research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.70.

IMAX Stock Performance

Shares of IMAX stock opened at $37.81 on Monday. IMAX has a 1 year low of $20.48 and a 1 year high of $39.98. The business’s fifty day moving average is $36.32 and its 200-day moving average is $33.62. The stock has a market cap of $2.03 billion, a PE ratio of 53.25, a price-to-earnings-growth ratio of 1.87 and a beta of 0.38.

Institutional Investors Weigh In On IMAX

Large investors have recently made changes to their positions in the company. TD Waterhouse Canada Inc. lifted its stake in IMAX by 125.0% in the second quarter. TD Waterhouse Canada Inc. now owns 900 shares of the company’s stock valued at $25,000 after acquiring an additional 500 shares during the last quarter. CIBC Private Wealth Group LLC bought a new position in shares of IMAX during the 3rd quarter valued at $27,000. Quarry LP lifted its stake in shares of IMAX by 166.8% in the 4th quarter. Quarry LP now owns 875 shares of the company’s stock valued at $32,000 after purchasing an additional 547 shares during the last quarter. First Horizon Corp bought a new stake in IMAX in the third quarter worth $34,000. Finally, Jones Financial Companies Lllp increased its position in IMAX by 43.8% during the third quarter. Jones Financial Companies Lllp now owns 1,041 shares of the company’s stock worth $34,000 after buying an additional 317 shares during the last quarter. Institutional investors own 93.51% of the company’s stock.

IMAX Company Profile

IMAX Corporation is a global leader in immersive entertainment technologies, specializing in the design, manufacture and distribution of high-resolution cameras, projectors, and proprietary software solutions that enhance both film production and theatrical exhibition. The company licenses its premium large-format system to theatre owners and filmmakers around the world, enabling audiences to experience movies with greater clarity, scale and sound fidelity. IMAX also offers turnkey theatre development services, assisting cinema operators with auditorium design, installation and custom branding to optimize the customer experience.

Founded in 1967 and headquartered in Mississauga, Ontario, IMAX has built a reputation for pioneering film-format innovations, including its patented dual 15-perforation, 70-millimeter projection system.