IMAX's (IMAX) Outperform Rating Reiterated at Wedbush

IMAX (NYSE:IMAX - Get Free Report)'s stock had its "outperform" rating reaffirmed by equities researchers at Wedbush in a research note issued on Thursday,RTT News reports. They currently have a $32.00 price target on the stock. Wedbush's price objective suggests a potential upside of 42.44% from the company's previous close.

Several other brokerages have also recently weighed in on IMAX. Benchmark reaffirmed a "buy" rating and issued a $30.00 price objective on shares of IMAX in a report on Thursday, April 10th. Rosenblatt Securities reaffirmed a "buy" rating and set a $35.00 price objective on shares of IMAX in a research report on Thursday, April 10th. StockNews.com lowered shares of IMAX from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Barrington Research upped their price target on shares of IMAX from $30.00 to $32.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of IMAX from $27.00 to $26.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. 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. Based on data from MarketBeat.com, IMAX presently has an average rating of "Moderate Buy" and an average price target of $30.56.

IMAX Stock Performance

Shares of IMAX stock traded up $0.70 on Thursday, hitting $22.47. The company's stock had a trading volume of 1,134,183 shares, compared to its average volume of 757,061. IMAX has a fifty-two week low of $14.94 and a fifty-two week high of $27.77. The company has a market capitalization of $1.19 billion, a PE ratio of 45.85, a PEG ratio of 1.49 and a beta of 0.91. The stock's 50 day moving average is $25.03 and its 200-day moving average is $24.20.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio purchased a new position in shares of IMAX in the third quarter worth about $1,555,000. Lord Abbett & CO. LLC bought a new position in shares of IMAX in the third quarter worth approximately $6,322,000. SG Americas Securities LLC purchased a new stake in IMAX in the fourth quarter valued at approximately $333,000. Janney Montgomery Scott LLC lifted its position in IMAX by 1.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 29,176 shares of the company's stock valued at $747,000 after purchasing an additional 533 shares during the last quarter. Finally, Hedges Asset Management LLC increased its holdings in shares of IMAX by 3.1% in the 4th quarter. Hedges Asset Management LLC now owns 83,600 shares of the company's stock worth $2,140,000 after buying an additional 2,500 shares during the last quarter. Institutional investors own 93.51% of the company's stock.

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.