IMAX (NYSE:IMAX) Given Buy Rating at Benchmark

Benchmark reaffirmed their buy rating on shares of IMAX (NYSE:IMAX) in a research report report published on Wednesday morning, Benzinga reports. They currently have a $22.00 target price on the stock.

Several other brokerages have also recently commented on IMAX. StockNews.com cut shares of IMAX from a buy rating to a hold rating in a research report on Saturday, January 27th. Barrington Research reaffirmed an outperform rating and issued a $24.00 target price on shares of IMAX in a report on Wednesday, February 28th. JPMorgan Chase & Co. dropped their target price on shares of IMAX from $20.00 to $17.00 and set a neutral rating on the stock in a report on Tuesday, February 6th. Rosenblatt Securities dropped their target price on shares of IMAX from $30.00 to $25.00 and set a buy rating on the stock in a report on Tuesday, February 13th. Finally, The Goldman Sachs Group decreased their price target on shares of IMAX from $15.00 to $13.00 and set a sell rating on the stock in a research note on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, IMAX presently has a consensus rating of Moderate Buy and a consensus price target of $20.57.

IMAX Stock Performance

IMAX opened at $16.75 on Wednesday. The company has a fifty day moving average price of $15.70 and a two-hundred day moving average price of $16.24. IMAX has a 52 week low of $13.20 and a 52 week high of $21.82. The firm has a market capitalization of $886.65 million, a PE ratio of 36.40, a P/E/G ratio of 1.40 and a beta of 1.25.

IMAX (NYSE:IMAX) last released its earnings results on Tuesday, February 27th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.12. IMAX had a net margin of 6.76% and a return on equity of 9.59%. The firm had revenue of $86.02 million during the quarter, compared to analyst estimates of $85.83 million. During the same quarter in the previous year, the business earned $0.05 EPS. The business’s quarterly revenue was down 12.3% compared to the same quarter last year. Equities analysts forecast that IMAX will post 0.58 EPS for the current year.

Insider Transactions at IMAX

In other news, VP Robert D. Lister sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $16.87, for a total transaction of $421,750.00. Following the completion of the sale, the vice president now owns 138,889 shares of the company’s stock, valued at approximately $2,343,057.43. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 24.33% of the stock is currently owned by insiders.

Institutional Trading of IMAX

Institutional investors and hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. bought a new stake in shares of IMAX during the 4th quarter worth approximately $33,000. Tower Research Capital LLC TRC lifted its holdings in shares of IMAX by 164.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,260 shares of the company’s stock worth $46,000 after acquiring an additional 2,029 shares during the period. Point72 Hong Kong Ltd bought a new position in IMAX in the 4th quarter valued at approximately $65,000. SRS Capital Advisors Inc. lifted its stake in IMAX by 11.1% in the 1st quarter. SRS Capital Advisors Inc. now owns 6,492 shares of the company’s stock valued at $125,000 after purchasing an additional 650 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in IMAX in the 3rd quarter valued at approximately $139,000. 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.