IMAX (NYSE:IMAX) Price Target Raised to $32.00

IMAX (NYSE:IMAX - Get Free Report) had its target price increased by investment analysts at Barrington Research from $30.00 to $32.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Barrington Research's target price points to a potential upside of 22.96% from the stock's current price.

Several other equities research analysts have also commented on the stock. Benchmark reaffirmed a "buy" rating and set a $30.00 price target on shares of IMAX in a research report on Friday, January 17th. Rosenblatt Securities reaffirmed a "buy" rating and set a $28.00 price target on shares of IMAX in a research report on Thursday, January 16th. StockNews.com lowered shares of IMAX from a "buy" rating to a "hold" rating in a research report on Thursday, February 13th. Roth Mkm upped their price target on shares of IMAX from $27.00 to $28.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Finally, Wedbush reaffirmed an "outperform" rating and set a $32.00 price target on shares of IMAX in a research report on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $30.67.

IMAX Trading Down 3.4 %

NYSE:IMAX traded down $0.91 during mid-day trading on Thursday, reaching $26.03. The company's stock had a trading volume of 1,170,438 shares, compared to its average volume of 707,780. IMAX has a 12-month low of $14.94 and a 12-month high of $27.77. The firm's fifty day moving average price is $24.65 and its two-hundred day moving average price is $23.00. The stock has a market cap of $1.38 billion, a P/E ratio of 53.11, a PEG ratio of 1.49 and a beta of 1.22.

IMAX (NYSE:IMAX - Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported $0.17 earnings per share for the quarter, missing analysts' consensus estimates of $0.31 by ($0.14). IMAX had a return on equity of 8.60% and a net margin of 7.40%. The business had revenue of $92.67 million during the quarter, compared to analysts' expectations of $104.08 million. Analysts predict that IMAX will post 0.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Kenneth Ian Weissman sold 6,309 shares of IMAX stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $25.51, for a total transaction of $160,942.59. Following the sale, the insider now owns 25,139 shares in the company, valued at $641,295.89. This trade represents a 20.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Robert D. Lister sold 55,910 shares of IMAX stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $25.50, for a total transaction of $1,425,705.00. Following the sale, the executive vice president now owns 138,889 shares in the company, valued at approximately $3,541,669.50. The trade was a 28.70 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 65,176 shares of company stock valued at $1,662,110. 24.08% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On IMAX

Several institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC raised its position in shares of IMAX by 14.2% during the fourth quarter. FMR LLC now owns 4,508,583 shares of the company's stock valued at $115,420,000 after buying an additional 558,940 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of IMAX by 36.9% in the fourth quarter. Ameriprise Financial Inc. now owns 1,823,516 shares of the company's stock valued at $46,671,000 after purchasing an additional 491,172 shares in the last quarter. Royce & Associates LP grew its holdings in shares of IMAX by 3.1% in the third quarter. Royce & Associates LP now owns 1,822,616 shares of the company's stock valued at $37,382,000 after purchasing an additional 54,850 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of IMAX by 9.8% in the third quarter. Victory Capital Management Inc. now owns 1,420,592 shares of the company's stock valued at $29,136,000 after purchasing an additional 127,371 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of IMAX by 45.4% in the fourth quarter. Wells Fargo & Company MN now owns 624,510 shares of the company's stock valued at $15,987,000 after purchasing an additional 194,917 shares in the last quarter. 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.