IMAX (NYSE:IMAX) Price Target Raised to $30.00 at Macquarie

IMAX (NYSE:IMAX - Free Report) had its price objective hoisted by Macquarie from $28.00 to $30.00 in a report issued on Thursday,Benzinga reports. Macquarie currently has an outperform rating on the stock.

Several other brokerages have also weighed in on IMAX. Wells Fargo & Company raised their price objective on shares of IMAX from $26.00 to $32.00 and gave the company an "overweight" rating in a research report on Thursday. Barrington Research raised their price objective on shares of IMAX from $30.00 to $32.00 and gave the company an "outperform" rating in a research report on Thursday. Rosenblatt Securities raised their price objective on shares of IMAX from $28.00 to $35.00 and gave the company a "buy" rating in a research report on Thursday. StockNews.com lowered shares of IMAX from a "buy" rating to a "hold" rating in a research report on Thursday, February 13th. Finally, Benchmark reaffirmed a "buy" rating and set a $30.00 price objective on shares of IMAX in a research report on Thursday. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $30.67.

IMAX Stock Performance

Shares of IMAX stock traded down $0.91 during trading on Thursday, hitting $26.03. 1,170,438 shares of the company were exchanged, compared to its average volume of 707,780. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 53.11, a P/E/G ratio of 1.49 and a beta of 1.22. The business's 50-day simple moving average is $24.65 and its 200 day simple moving average is $23.00. IMAX has a twelve month low of $14.94 and a twelve month high of $27.77.

IMAX (NYSE:IMAX - Get Free Report) last posted its quarterly 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). The company 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, equities analysts forecast that IMAX will post 0.91 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Kenneth Ian Weissman sold 6,309 shares of the business's stock in a transaction on Monday, December 9th. The shares were sold at an average price of $25.51, for a total transaction of $160,942.59. Following the transaction, the insider now owns 25,139 shares of the company's stock, valued at approximately $641,295.89. The trade was a 20.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Robert D. Lister sold 55,910 shares of the business's 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 transaction, 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 disclosure for this sale can be found here. Insiders have sold a total of 65,176 shares of company stock valued at $1,662,110 over the last 90 days. 24.08% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On IMAX

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. boosted its stake in IMAX by 138.5% during the fourth quarter. Blue Trust Inc. now owns 966 shares of the company's stock worth $25,000 after buying an additional 561 shares in the last quarter. Huntington National Bank bought a new stake in IMAX in the 3rd quarter valued at $34,000. Quarry LP increased its holdings in 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 buying an additional 2,350 shares during the period. US Bancorp DE increased 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 during the period. Finally, Tower Research Capital LLC TRC increased its holdings in IMAX by 415.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,236 shares of the company's stock valued at $185,000 after buying an additional 5,832 shares during the period. 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.