IMAX (NYSE:IMAX) Reaches New 52-Week High - Still a Buy?

IMAX Co. (NYSE:IMAX - Get Free Report) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $27.38 and last traded at $27.01, with a volume of 1065382 shares trading hands. The stock had previously closed at $26.97.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on IMAX shares. Barrington Research lifted their price target on shares of IMAX from $30.00 to $32.00 and gave the company an "outperform" rating in a research note on Thursday. JPMorgan Chase & Co. boosted their price target on IMAX from $25.00 to $27.00 and gave the company a "neutral" rating in a report on Friday. Roth Mkm increased their price objective on IMAX from $27.00 to $28.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Benchmark reissued a "buy" rating and issued a $30.00 target price on shares of IMAX in a research report on Thursday. Finally, Wedbush reaffirmed an "outperform" rating and set a $32.00 price target on shares of IMAX in a research report on Thursday. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, IMAX has a consensus rating of "Moderate Buy" and a consensus price target of $30.67.

IMAX Trading Down 3.4 %

The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 53.11, a price-to-earnings-growth ratio of 1.49 and a beta of 1.22. The firm's 50 day moving average price is $24.65 and its two-hundred day moving average price is $23.00.

IMAX (NYSE:IMAX - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.17 earnings per share (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 during the quarter, compared to the consensus estimate of $104.08 million. As a group, equities research analysts predict that IMAX Co. will post 0.91 EPS for the current year.

Insider Buying and Selling at IMAX

In other IMAX news, EVP Robert D. Lister sold 55,910 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 138,889 shares of the company's stock, valued at $3,541,669.50. This represents a 28.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kenneth Ian Weissman sold 6,309 shares of the firm's stock in a transaction that occurred 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 sale, the insider now owns 25,139 shares of the company's stock, valued at $641,295.89. This trade represents a 20.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 65,176 shares of company stock valued at $1,662,110 in the last quarter. 24.08% of the stock is currently owned by insiders.

Hedge Funds Weigh In On IMAX

A number of large investors have recently made changes to their positions in the company. US Bancorp DE grew its holdings 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 in the last quarter. Victory Capital Management Inc. boosted its position in shares of IMAX by 9.8% in the third quarter. Victory Capital Management Inc. now owns 1,420,592 shares of the company's stock valued at $29,136,000 after acquiring an additional 127,371 shares during the period. Huntington National Bank acquired a new position in shares of IMAX in the third quarter valued at about $34,000. Royce & Associates LP increased its position in IMAX by 3.1% during the third quarter. Royce & Associates LP now owns 1,822,616 shares of the company's stock worth $37,382,000 after acquiring an additional 54,850 shares during the period. Finally, Mizuho Markets Americas LLC raised its stake in IMAX by 47.5% in the 3rd quarter. Mizuho Markets Americas LLC now owns 387,689 shares of the company's stock worth $7,952,000 after purchasing an additional 124,811 shares in the last quarter. Institutional investors 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.