IMAX (NYSE:IMAX) Receives "Outperform" Rating from Barrington Research

Barrington Research reaffirmed their outperform rating on shares of IMAX (NYSE:IMAX - Free Report) in a research report sent to investors on Friday morning,Benzinga reports. They currently have a $30.00 target price on the stock.

Several other research firms have also commented on IMAX. Roth Mkm boosted their price objective on IMAX from $27.00 to $28.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Wedbush restated an "outperform" rating on shares of IMAX in a report on Wednesday, November 27th. Rosenblatt Securities reiterated a "buy" rating and issued a $28.00 price objective on shares of IMAX in a report on Thursday, October 31st. JPMorgan Chase & Co. boosted their price target on shares of IMAX from $20.00 to $21.00 and gave the stock a "neutral" rating in a research note on Monday, October 14th. Finally, Benchmark reaffirmed a "buy" rating and set a $30.00 target price on shares of IMAX in a research note on Friday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $25.78.

IMAX Stock Performance

Shares of NYSE:IMAX traded down $0.45 on Friday, reaching $23.12. The company's stock had a trading volume of 866,408 shares, compared to its average volume of 610,185. The company has a 50-day simple moving average of $25.05 and a 200 day simple moving average of $21.60. IMAX has a 52-week low of $13.20 and a 52-week high of $26.84. The company has a market cap of $1.22 billion, a P/E ratio of 52.55, a PEG ratio of 1.69 and a beta of 1.24.

IMAX (NYSE:IMAX - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.12. IMAX had a net margin of 6.74% and a return on equity of 7.53%. The company had revenue of $91.50 million during the quarter, compared to analyst estimates of $93.71 million. During the same quarter last year, the business posted $0.27 EPS. The firm's revenue for the quarter was down 11.9% on a year-over-year basis. On average, equities research analysts forecast that IMAX will post 0.77 EPS for the current fiscal year.

Insider Activity at IMAX

In related news, CFO Natasha Fernandes sold 2,957 shares of the business's stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $25.52, for a total transaction of $75,462.64. Following the sale, the chief financial officer now owns 14,883 shares of the company's stock, valued at $379,814.16. The trade was a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert D. Lister sold 55,910 shares of the company's stock in a transaction on Monday, December 9th. The shares were sold at an average price of $25.50, for a total value of $1,425,705.00. Following the completion of the sale, the executive vice president now owns 138,889 shares of the company's stock, valued at approximately $3,541,669.50. This trade represents a 28.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 65,176 shares of company stock valued at $1,662,110 in the last quarter. Insiders own 24.08% of the company's stock.

Institutional Trading of IMAX

Several institutional investors have recently made changes to their positions in IMAX. US Bancorp DE boosted its holdings in IMAX by 23.4% in the third quarter. US Bancorp DE now owns 7,656 shares of the company's stock worth $157,000 after purchasing an additional 1,452 shares in the last quarter. Huntington National Bank acquired a new position in shares of IMAX during the 3rd quarter valued at about $34,000. Headlands Technologies LLC bought a new position in shares of IMAX in the 2nd quarter valued at approximately $35,000. Quarry LP boosted its position in IMAX by 78,333.3% during the third quarter. Quarry LP now owns 2,353 shares of the company's stock worth $48,000 after purchasing an additional 2,350 shares during the period. Finally, nVerses Capital LLC bought a new position in shares of IMAX in the third quarter valued at approximately $70,000. 93.51% of the stock is currently owned by institutional investors and hedge funds.

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.