IMAX's (IMAX) "Buy" Rating Reiterated at Rosenblatt Securities

IMAX (NYSE:IMAX - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at Rosenblatt Securities in a research note issued to investors on Thursday,Benzinga reports. They presently have a $28.00 price target on the stock. Rosenblatt Securities' price objective indicates a potential upside of 25.06% from the stock's previous close.

Other research analysts also recently issued research reports about the stock. Barrington Research reaffirmed an "outperform" rating and issued a $30.00 price target on shares of IMAX in a report on Friday, January 10th. Benchmark reiterated a "buy" rating and issued a $30.00 target price on shares of IMAX in a report on Friday, January 10th. Roth Mkm increased their price target on IMAX from $27.00 to $28.00 and gave the company a "buy" rating in a report on Thursday, October 31st. StockNews.com lowered shares of IMAX from a "buy" rating to a "hold" rating in a research note on Tuesday. Finally, Wedbush reissued an "outperform" rating on shares of IMAX in a research note on Wednesday, November 27th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, IMAX currently has an average rating of "Moderate Buy" and an average price target of $27.38.

IMAX Stock Performance

NYSE:IMAX traded down $0.39 during trading hours on Thursday, reaching $22.39. The stock had a trading volume of 362,023 shares, compared to its average volume of 581,763. The stock has a market capitalization of $1.18 billion, a PE ratio of 50.89, a PEG ratio of 1.25 and a beta of 1.24. IMAX has a 52 week low of $13.20 and a 52 week high of $26.84. The company has a 50 day moving average price of $24.94 and a two-hundred day moving average price of $21.79.

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, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $93.71 million. During the same quarter in the previous year, the business posted $0.27 earnings per share. IMAX's quarterly revenue was down 11.9% on a year-over-year basis. Equities research analysts predict that IMAX will post 0.77 EPS for the current year.

Insider Activity

In other IMAX news, EVP Robert D. Lister sold 55,910 shares of the firm's stock in a transaction on Monday, December 9th. The stock was 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 directly owns 138,889 shares in the company, valued at $3,541,669.50. This trade represents a 28.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Natasha Fernandes sold 2,957 shares of the company's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $25.52, for a total value of $75,462.64. Following the completion of the sale, the chief financial officer now owns 14,883 shares of the company's stock, valued at $379,814.16. This represents a 16.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,176 shares of company stock valued at $1,662,110. 24.08% of the stock is currently owned by company insiders.

Institutional Trading of IMAX

Several institutional investors and hedge funds have recently made changes to their positions in IMAX. Huntington National Bank purchased a new position in IMAX during the 3rd quarter valued at about $34,000. Quarry LP boosted its stake in shares of IMAX by 78,333.3% during the third quarter. Quarry LP now owns 2,353 shares of the company's stock valued at $48,000 after purchasing an additional 2,350 shares in the last quarter. nVerses Capital LLC purchased a new position in IMAX during the third quarter valued at approximately $70,000. US Bancorp DE raised its stake 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 buying an additional 1,452 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in IMAX during the third quarter worth $205,000. 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.