Barrington Research Reiterates "Outperform" Rating for IMAX (NYSE:IMAX)

IMAX (NYSE:IMAX - Get Free Report)'s stock had its "outperform" rating restated by stock analysts at Barrington Research in a research report issued on Thursday, Benzinga reports. They presently have a $24.00 target price on the stock. Barrington Research's target price would suggest a potential downside of 1.23% from the company's previous close.

Several other research analysts have also weighed in on the stock. Rosenblatt Securities reiterated a "buy" rating and set a $28.00 price objective on shares of IMAX in a report on Thursday. B. Riley increased their price objective on shares of IMAX from $27.00 to $30.00 and gave the stock a "buy" rating in a report on Monday, July 8th. JPMorgan Chase & Co. increased their price objective on shares of IMAX from $20.00 to $21.00 and gave the stock a "neutral" rating in a report on Monday, October 14th. Roth Mkm restated a "buy" rating and issued a $27.00 price target on shares of IMAX in a report on Thursday, October 10th. Finally, Seaport Res Ptn upgraded shares of IMAX to a "strong-buy" rating in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.22.

IMAX Trading Up 12.1 %

Shares of IMAX stock traded up $2.62 during mid-day trading on Thursday, hitting $24.30. 2,852,198 shares of the stock were exchanged, compared to its average volume of 772,676. IMAX has a twelve month low of $13.20 and a twelve month high of $24.33. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 50.06, a price-to-earnings-growth ratio of 1.52 and a beta of 1.25. The company has a 50-day simple moving average of $20.63 and a 200 day simple moving average of $18.60.

Hedge Funds Weigh In On IMAX

Hedge funds have recently added to or reduced their stakes in the business. US Bancorp DE lifted its stake in IMAX by 23.4% in the third 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 last quarter. nVerses Capital LLC bought a new stake in IMAX in the third quarter valued at $70,000. Lombard Odier Asset Management USA Corp bought a new stake in shares of IMAX during the second quarter valued at about $300,000. Thrivent Financial for Lutherans raised its stake in shares of IMAX by 5.5% during the second quarter. Thrivent Financial for Lutherans now owns 819,325 shares of the company's stock valued at $13,740,000 after purchasing an additional 42,952 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of IMAX during the second quarter valued at about $208,000. Institutional investors and hedge funds 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.