JPMorgan Chase & Co. Boosts IMAX (NYSE:IMAX) Price Target to $27.00

IMAX (NYSE:IMAX - Get Free Report) had its price target increased by equities research analysts at JPMorgan Chase & Co. from $25.00 to $27.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 2.68% from the stock's previous close.

Several other equities analysts have also commented on the stock. Roth Mkm raised their target price on shares of IMAX from $27.00 to $28.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Macquarie raised their target price on shares of IMAX from $28.00 to $30.00 and gave the company an "outperform" rating in a report on Thursday. Rosenblatt Securities raised their target price on shares of IMAX from $28.00 to $35.00 and gave the company a "buy" rating in a report on Thursday. Benchmark reissued a "buy" rating and issued a $30.00 target price on shares of IMAX in a report on Thursday. Finally, Wedbush reaffirmed an "outperform" rating and set a $32.00 price target on shares of IMAX in a report on Thursday. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $30.67.

IMAX Price Performance

IMAX stock traded down $0.63 during midday trading on Friday, hitting $26.30. The company's stock had a trading volume of 91,171 shares, compared to its average volume of 689,477. IMAX has a 1-year low of $14.94 and a 1-year high of $27.77. The company has a 50-day moving average price of $24.65 and a two-hundred day moving average price of $22.96. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 53.57, a PEG ratio of 1.50 and a beta of 1.22.

IMAX (NYSE:IMAX - Get Free Report) last released its earnings results on Wednesday, February 19th. The company reported $0.17 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 8.79%. The firm had revenue of $92.67 million during the quarter, compared to the consensus estimate of $104.08 million. Sell-side analysts forecast that IMAX will post 0.91 EPS for the current year.

Insider Buying and Selling

In related news, EVP Robert D. Lister sold 55,910 shares of IMAX stock in a transaction that occurred on Monday, December 9th. The shares were 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 $3,541,669.50. This trade represents a 28.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kenneth Ian Weissman sold 6,309 shares of IMAX 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 in the company, valued at approximately $641,295.89. This represents a 20.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 65,176 shares of company stock worth $1,662,110 in the last ninety days. Company insiders own 24.08% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Blue Trust Inc. lifted its position in shares of IMAX by 138.5% in the 4th quarter. Blue Trust Inc. now owns 966 shares of the company's stock worth $25,000 after purchasing an additional 561 shares during the period. Huntington National Bank acquired a new position in shares of IMAX in the 3rd quarter worth approximately $34,000. Quarry LP lifted its position in shares of IMAX by 78,333.3% in the 3rd quarter. Quarry LP now owns 2,353 shares of the company's stock worth $48,000 after purchasing an additional 2,350 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of IMAX by 415.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,236 shares of the company's stock worth $185,000 after purchasing an additional 5,832 shares during the period. Finally, US Bancorp DE lifted its position in shares of IMAX by 23.4% in the 3rd quarter. US Bancorp DE now owns 7,656 shares of the company's stock worth $157,000 after purchasing an additional 1,452 shares during the period. Institutional investors and hedge funds 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.

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