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

Shares of IMAX Co. (NYSE:IMAX - Get Free Report) have received an average rating of "Moderate Buy" from the ten research firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $25.11.

A number of brokerages have recently issued reports on IMAX. JPMorgan Chase & Co. upped their price target on IMAX from $20.00 to $21.00 and gave the company a "neutral" rating in a report on Monday, October 14th. StockNews.com cut shares of IMAX from a "buy" rating to a "hold" rating in a research note on Tuesday, December 10th. Barrington Research reiterated an "outperform" rating and issued a $24.00 price target on shares of IMAX in a research note on Thursday, October 31st. Roth Mkm increased their price objective 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, Rosenblatt Securities restated a "buy" rating and set a $28.00 price target on shares of IMAX in a research note on Thursday, October 31st.

IMAX Price Performance

IMAX stock traded up $0.17 during trading on Friday, hitting $26.03. 527,866 shares of the stock traded hands, compared to its average volume of 749,368. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of 59.16, a price-to-earnings-growth ratio of 1.69 and a beta of 1.23. IMAX has a 1 year low of $13.20 and a 1 year high of $26.84. The firm's 50 day moving average is $23.52 and its two-hundred day moving average is $20.45.

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

Insiders Place Their Bets

In other news, EVP Robert D. Lister sold 55,910 shares of the business's stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 138,889 shares of the company's stock, valued at approximately $3,541,669.50. The trade was a 28.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Natasha Fernandes sold 2,957 shares of the firm's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $25.52, for a total value of $75,462.64. Following the sale, the chief financial officer now directly owns 14,883 shares in the company, valued at approximately $379,814.16. The trade was a 16.58 % 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 over the last 90 days. Insiders own 24.08% of the company's stock.

Hedge Funds Weigh In On IMAX

Large investors have recently added to or reduced their stakes in the company. Huntington National Bank purchased a new position in shares of IMAX in the third quarter worth $34,000. Headlands Technologies LLC acquired a new position in shares of IMAX during the 2nd quarter worth approximately $35,000. Quarry LP grew its stake in shares of IMAX by 78,333.3% in the 3rd quarter. Quarry LP now owns 2,353 shares of the company's stock valued at $48,000 after buying an additional 2,350 shares during the period. nVerses Capital LLC acquired a new stake in shares of IMAX during the 3rd quarter worth approximately $70,000. Finally, Summit Securities Group LLC acquired a new position in IMAX in the second quarter valued at approximately $80,000. 93.51% of the stock is currently owned by institutional investors.

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.