IMAX Co. (NYSE:IMAX) Given Average Rating of "Buy" by Brokerages

IMAX Co. (NYSE:IMAX - Get Free Report) has been assigned a consensus rating of "Buy" from the ten research firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $30.67.

A number of brokerages have weighed in on IMAX. Benchmark reaffirmed a "buy" rating and issued a $30.00 target price on shares of IMAX in a report on Thursday, February 20th. Macquarie raised their price objective on IMAX from $28.00 to $30.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Wedbush reiterated an "outperform" rating and issued a $32.00 target price on shares of IMAX in a research report on Thursday, February 20th. StockNews.com cut shares of IMAX from a "buy" rating to a "hold" rating in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. lifted their price target on shares of IMAX from $25.00 to $27.00 and gave the company a "neutral" rating in a report on Friday, February 21st.

Insiders Place Their Bets

In other IMAX news, EVP Robert D. Lister sold 55,910 shares of the company's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $25.50, for a total value 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Kenneth Ian Weissman sold 6,309 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $25.51, for a total value of $160,942.59. Following the completion of the sale, the insider now directly owns 25,139 shares of the company's stock, valued at approximately $641,295.89. The trade was a 20.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 65,176 shares of company stock valued at $1,662,110 in the last ninety days. 24.08% of the stock is currently owned by insiders.

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Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of IMAX. Blue Trust Inc. raised its stake in IMAX by 138.5% during the fourth quarter. Blue Trust Inc. now owns 966 shares of the company's stock worth $25,000 after buying an additional 561 shares during the last quarter. Huntington National Bank acquired a new stake in IMAX during the 3rd quarter worth about $34,000. Quarry LP grew its holdings in IMAX by 78,333.3% during the 3rd quarter. Quarry LP now owns 2,353 shares of the company's stock worth $48,000 after acquiring an additional 2,350 shares during the period. US Bancorp DE raised its position in shares of IMAX by 23.4% in the 3rd quarter. US Bancorp DE now owns 7,656 shares of the company's stock worth $157,000 after acquiring an additional 1,452 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in shares of IMAX by 415.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,236 shares of the company's stock valued at $185,000 after purchasing an additional 5,832 shares during the period. Institutional investors and hedge funds own 93.51% of the company's stock.

IMAX Price Performance

IMAX traded down $0.58 on Friday, hitting $25.02. 258,645 shares of the stock were exchanged, compared to its average volume of 712,310. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 51.14, a PEG ratio of 1.49 and a beta of 1.22. IMAX has a 12 month low of $14.94 and a 12 month high of $27.77. The business has a 50-day moving average of $24.74 and a two-hundred day moving average of $23.24.

IMAX (NYSE:IMAX - Get Free Report) last issued its quarterly 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). The firm had revenue of $92.67 million for the quarter, compared to the consensus estimate of $104.08 million. IMAX had a return on equity of 8.60% and a net margin of 7.40%. Equities research analysts expect that IMAX will post 0.91 earnings per share for the current fiscal year.

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.