IMAX (NYSE:IMAX) Given New $30.00 Price Target at Benchmark

IMAX (NYSE:IMAX - Free Report) had its price objective hoisted by Benchmark from $27.00 to $30.00 in a research note released on Friday morning,Benzinga reports. Benchmark currently has a buy rating on the stock.

IMAX has been the subject of several other reports. Barrington Research reissued an "outperform" rating and issued a $24.00 price objective on shares of IMAX in a research note on Thursday, October 31st. Wedbush restated an "outperform" rating on shares of IMAX in a research note on Wednesday, November 27th. StockNews.com lowered shares of IMAX from a "buy" rating to a "hold" rating in a research note on Tuesday. JPMorgan Chase & Co. boosted their price target on shares of IMAX from $20.00 to $21.00 and gave the stock a "neutral" rating in a report on Monday, October 14th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $28.00 price objective on shares of IMAX in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $25.11.

IMAX Stock Up 0.7 %

NYSE:IMAX traded up $0.17 on Friday, hitting $26.03. The stock had a trading volume of 527,866 shares, compared to its average volume of 749,368. IMAX has a 52 week low of $13.20 and a 52 week high of $26.84. The business's fifty day moving average is $23.52 and its 200 day moving average is $20.42. The company has a market cap of $1.37 billion, a PE ratio of 59.16, a P/E/G ratio of 1.69 and a beta of 1.23.

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

Insiders Place Their Bets

In other IMAX news, 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 sale, the insider now owns 25,139 shares in the company, valued at $641,295.89. This represents a 20.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Robert D. Lister sold 55,910 shares of IMAX stock in a transaction on 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 completion of the transaction, the executive vice president now owns 138,889 shares of the company's stock, valued at approximately $3,541,669.50. This trade represents a 28.70 % 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 over the last ninety days. 24.08% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Huntington National Bank bought a new position in shares of IMAX in the third quarter worth $34,000. Headlands Technologies LLC bought a new position in IMAX in the 2nd quarter worth about $35,000. Quarry LP raised its holdings 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 acquiring an additional 2,350 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of IMAX during the 3rd quarter valued at about $70,000. Finally, Summit Securities Group LLC bought a new position in shares of IMAX in the second quarter worth approximately $80,000. 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.