IMAX (NYSE:IMAX) Given "Outperform" Rating at Wedbush

Wedbush reissued their outperform rating on shares of IMAX (NYSE:IMAX - Free Report) in a research note issued to investors on Thursday morning,RTT News reports. The brokerage currently has a $32.00 target price on the stock.

Other equities research analysts have also issued reports about the stock. JPMorgan Chase & Co. raised their price objective on shares of IMAX from $21.00 to $25.00 and gave the stock a "neutral" rating in a report on Thursday, January 30th. StockNews.com downgraded IMAX from a "buy" rating to a "hold" rating in a research note on Thursday, February 13th. Roth Mkm lifted their target price on IMAX from $27.00 to $28.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Wells Fargo & Company lifted their target price on IMAX from $26.00 to $32.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Barrington Research lifted their price objective on shares of IMAX from $30.00 to $32.00 and gave the company an "outperform" rating in a report on Thursday. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $30.67.

IMAX Price Performance

IMAX traded down $0.91 during mid-day trading on Thursday, hitting $26.03. The stock had a trading volume of 1,170,438 shares, compared to its average volume of 707,780. The stock's fifty day simple moving average is $24.65 and its 200-day simple moving average is $23.00. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 53.11, a price-to-earnings-growth ratio of 1.49 and a beta of 1.22. IMAX has a 1-year low of $14.94 and a 1-year high of $27.77.

IMAX (NYSE:IMAX - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.17 EPS for the quarter, missing the consensus estimate 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%. As a group, research analysts expect that IMAX will post 0.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In other IMAX news, EVP Robert D. Lister sold 55,910 shares of the company's stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $25.50, for a total value of $1,425,705.00. Following the sale, the executive vice president now owns 138,889 shares in the company, valued at $3,541,669.50. This represents a 28.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 value of $160,942.59. Following the transaction, the insider now owns 25,139 shares of the company's stock, valued at $641,295.89. This represents a 20.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 65,176 shares of company stock worth $1,662,110. Insiders own 24.08% of the company's stock.

Hedge Funds Weigh In On IMAX

Several large investors have recently modified their holdings of IMAX. Blue Trust Inc. boosted its holdings in shares of IMAX by 138.5% during the 4th quarter. Blue Trust Inc. now owns 966 shares of the company's stock worth $25,000 after buying an additional 561 shares during the period. Huntington National Bank bought a new stake in shares of IMAX during the third quarter worth approximately $34,000. Quarry LP boosted its holdings in shares of IMAX by 78,333.3% during the third quarter. Quarry LP now owns 2,353 shares of the company's stock worth $48,000 after acquiring an additional 2,350 shares during the period. US Bancorp DE boosted its holdings in shares of IMAX by 23.4% during the third quarter. US Bancorp DE now owns 7,656 shares of the company's stock worth $157,000 after acquiring an additional 1,452 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake 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 purchasing an additional 5,832 shares during the period. 93.51% of the stock is owned by 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.