IMAX (NYSE:IMAX) Stock Rating Reaffirmed by Benchmark

IMAX (NYSE:IMAX)‘s stock had its “buy” rating reaffirmed by investment analysts at Benchmark in a note issued to investors on Tuesday, Benzinga reports. They currently have a $22.00 target price on the stock. Benchmark’s price target indicates a potential upside of 34.89% from the company’s current price.

A number of other brokerages have also weighed in on IMAX. JPMorgan Chase & Co. lowered their target price on IMAX from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 6th. B. Riley lowered their target price on IMAX from $27.00 to $21.00 and set a “buy” rating on the stock in a research note on Tuesday, January 2nd. StockNews.com lowered IMAX from a “buy” rating to a “hold” rating in a research note on Saturday, January 27th. Barrington Research restated an “outperform” rating and set a $24.00 price objective on shares of IMAX in a research note on Wednesday, February 28th. Finally, Wedbush restated an “outperform” rating and set a $22.00 price objective on shares of IMAX in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.57.

IMAX Trading Down 0.1 %

Shares of IMAX traded down $0.02 during mid-day trading on Tuesday, reaching $16.31. The company’s stock had a trading volume of 121,854 shares, compared to its average volume of 814,940. IMAX has a 1-year low of $13.20 and a 1-year high of $21.82. The stock has a market cap of $863.63 million, a P/E ratio of 35.24, a PEG ratio of 1.43 and a beta of 1.25. The business has a 50-day simple moving average of $15.87 and a two-hundred day simple moving average of $16.17.

IMAX (NYSE:IMAX) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.12. The company had revenue of $86.02 million during the quarter, compared to analysts’ expectations of $85.83 million. IMAX had a return on equity of 9.59% and a net margin of 6.76%. The business’s revenue was down 12.3% on a year-over-year basis. During the same period last year, the firm posted $0.05 earnings per share. Research analysts anticipate that IMAX will post 0.58 EPS for the current year.

Insider Buying and Selling at IMAX

In related news, VP Robert D. Lister sold 25,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $16.87, for a total transaction of $421,750.00. Following the sale, the vice president now owns 138,889 shares of the company’s stock, valued at approximately $2,343,057.43. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 24.33% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc lifted its holdings in IMAX by 1.4% during the 4th quarter. Legal & General Group Plc now owns 43,759 shares of the company’s stock worth $642,000 after buying an additional 613 shares during the period. SRS Capital Advisors Inc. lifted its holdings in IMAX by 11.1% during the 1st quarter. SRS Capital Advisors Inc. now owns 6,492 shares of the company’s stock worth $125,000 after buying an additional 650 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in IMAX by 8.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,929 shares of the company’s stock worth $165,000 after buying an additional 806 shares during the period. Becker Capital Management Inc. lifted its holdings in IMAX by 0.3% during the 1st quarter. Becker Capital Management Inc. now owns 241,941 shares of the company’s stock worth $4,640,000 after buying an additional 834 shares during the period. Finally, Sei Investments Co. lifted its holdings in IMAX by 0.6% during the 2nd quarter. Sei Investments Co. now owns 151,871 shares of the company’s stock worth $2,580,000 after buying an additional 943 shares during the period. 93.51% of the stock is owned by institutional investors and hedge funds.

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.