Benchmark Reaffirms "Buy" Rating for IMAX (NYSE:IMAX)

IMAX (NYSE:IMAX - Get Free Report)'s stock had its "buy" rating restated by analysts at Benchmark in a research note issued on Friday,Benzinga reports. They presently have a $30.00 price objective on the stock. Benchmark's price objective would suggest a potential upside of 29.27% from the company's current price.

IMAX has been the topic of a number of other reports. JPMorgan Chase & Co. boosted their price objective on shares of IMAX from $20.00 to $21.00 and gave the company a "neutral" rating in a research report on Monday, October 14th. Wedbush reiterated an "outperform" rating on shares of IMAX in a research report on Wednesday, November 27th. StockNews.com lowered shares of IMAX from a "buy" rating to a "hold" rating in a report on Tuesday. Roth Mkm lifted their price objective on IMAX from $27.00 to $28.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Finally, Barrington Research reissued an "outperform" rating and issued a $30.00 target price on shares of IMAX in a research report on Friday, January 10th. Two equities research analysts have rated the stock with 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, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $28.13.

IMAX Trading Up 3.6 %

Shares of IMAX stock traded up $0.82 during mid-day trading on Friday, reaching $23.21. The stock had a trading volume of 908,719 shares, compared to its average volume of 481,855. The stock's 50-day moving average price is $24.88 and its two-hundred day moving average price is $21.84. The firm has a market capitalization of $1.22 billion, a PE ratio of 52.74, a price-to-earnings-growth 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.

IMAX (NYSE:IMAX - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.12. IMAX had a return on equity of 7.53% and a net margin of 6.74%. The business had revenue of $91.50 million during the quarter, compared to analyst estimates of $93.71 million. During the same quarter in the prior year, the company posted $0.27 EPS. IMAX's quarterly revenue was down 11.9% compared to the same quarter last year. On average, equities research analysts forecast that IMAX will post 0.77 earnings per share 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 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 sale, the executive vice president now directly owns 138,889 shares in the company, valued at approximately $3,541,669.50. This trade represents a 28.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Natasha Fernandes sold 2,957 shares of the business'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 transaction, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,176 shares of company stock worth $1,662,110. 24.08% of the stock is owned by insiders.

Institutional Investors Weigh In On IMAX

Institutional investors have recently modified their holdings of the business. FMR LLC lifted its stake in IMAX by 108.4% during the 3rd quarter. FMR LLC now owns 3,949,643 shares of the company's stock valued at $81,007,000 after acquiring an additional 2,054,031 shares during the period. Royce & Associates LP lifted 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 valued at $37,382,000 after purchasing an additional 54,850 shares during the period. Victory Capital Management Inc. lifted its position in IMAX by 9.8% during the third quarter. Victory Capital Management Inc. now owns 1,420,592 shares of the company's stock valued at $29,136,000 after purchasing an additional 127,371 shares during the period. Thrivent Financial for Lutherans boosted its holdings in IMAX by 5.5% in the second quarter. Thrivent Financial for Lutherans now owns 819,325 shares of the company's stock worth $13,740,000 after purchasing an additional 42,952 shares during the last quarter. Finally, Mizuho Markets Americas LLC grew its position 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 during the period. 93.51% of the stock is owned by hedge funds and other institutional investors.

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.