Benchmark Reaffirms Buy Rating for IMAX (NYSE:IMAX)

Benchmark reiterated their buy rating on shares of IMAX (NYSE:IMAX - Free Report) in a report released on Thursday morning,Benzinga reports. Benchmark currently has a $30.00 price objective on the stock.

Other analysts have also issued reports about the stock. JPMorgan Chase & Co. increased their target price on shares of IMAX from $21.00 to $25.00 and gave the company a "neutral" rating in a research note on Thursday, January 30th. Wells Fargo & Company increased their target price on shares of IMAX from $26.00 to $32.00 and gave the company an "overweight" rating in a research note on Thursday. Barrington Research increased their target price on shares of IMAX from $30.00 to $32.00 and gave the company an "outperform" rating in a research note on Thursday. Rosenblatt Securities upped their price target on shares of IMAX from $28.00 to $35.00 and gave the company a "buy" rating in a research report on Thursday. Finally, StockNews.com downgraded shares of IMAX from a "buy" rating to a "hold" rating in a research report on Thursday, February 13th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, IMAX has an average rating of "Moderate Buy" and an average price target of $30.67.

IMAX Price Performance

Shares of IMAX stock traded down $0.91 on Thursday, hitting $26.03. The company had a trading volume of 1,170,438 shares, compared to its average volume of 707,780. IMAX has a 52 week low of $14.94 and a 52 week high of $27.77. The company has a market cap of $1.38 billion, a PE ratio of 53.11, a PEG ratio of 1.49 and a beta of 1.22. The business has a 50-day simple moving average of $24.65 and a 200-day simple moving average of $23.00.

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

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Janney Montgomery Scott LLC increased its stake in shares of IMAX by 1.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 29,176 shares of the company's stock worth $747,000 after purchasing an additional 533 shares during the last quarter. Blue Trust Inc. grew its stake in IMAX by 138.5% in the 4th quarter. Blue Trust Inc. now owns 966 shares of the company's stock valued at $25,000 after buying an additional 561 shares during the last quarter. MetLife Investment Management LLC grew its stake in IMAX by 3.4% in the 4th quarter. MetLife Investment Management LLC now owns 25,918 shares of the company's stock valued at $664,000 after buying an additional 848 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in IMAX by 3.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,395 shares of the company's stock valued at $625,000 after buying an additional 905 shares during the last quarter. Finally, US Bancorp DE grew its stake in IMAX by 23.4% in the 3rd quarter. US Bancorp DE now owns 7,656 shares of the company's stock valued at $157,000 after buying an additional 1,452 shares during the last quarter. Institutional investors and hedge funds 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.