IMAX (NYSE:IMAX) Receives “Outperform” Rating from Barrington Research

Barrington Research restated their outperform rating on shares of IMAX (NYSE:IMAX) in a report published on Monday morning, Benzinga reports. They currently have a $24.00 target price on the stock.

IMAX has been the subject of several other research reports. Wedbush reaffirmed an outperform rating and issued a $22.00 price objective on shares of IMAX in a report on Thursday, April 18th. JPMorgan Chase & Co. cut their price objective on IMAX from $20.00 to $17.00 and set a neutral rating for the company in a report on Tuesday, February 6th. The Goldman Sachs Group cut their price objective on IMAX from $15.00 to $13.00 and set a sell rating for the company in a report on Thursday, January 11th. StockNews.com lowered IMAX from a buy rating to a hold rating in a report on Saturday, January 27th. Finally, Benchmark reaffirmed a buy rating and issued a $22.00 price objective on shares of IMAX in a report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $20.57.

IMAX Price Performance

IMAX stock opened at $17.15 on Monday. IMAX has a 1-year low of $13.20 and a 1-year high of $21.82. The business has a fifty day moving average price of $16.19 and a 200-day moving average price of $16.09. The stock has a market capitalization of $908.09 million, a P/E ratio of 37.28, a P/E/G ratio of 1.52 and a beta of 1.25.

IMAX (NYSE:IMAX) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.12. IMAX had a return on equity of 9.59% and a net margin of 6.76%. The firm had revenue of $86.02 million during the quarter, compared to analysts’ expectations of $85.83 million. During the same quarter in the previous year, the business earned $0.05 earnings per share. The company’s revenue was down 12.3% on a year-over-year basis. As a group, analysts anticipate that IMAX will post 0.56 earnings per share 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 stock was sold at an average price of $16.87, for a total transaction of $421,750.00. Following the transaction, the vice president now owns 138,889 shares of the company’s stock, valued at $2,343,057.43. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate 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 company. Dimensional Fund Advisors LP boosted its position in IMAX by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,454,524 shares of the company’s stock valued at $21,847,000 after acquiring an additional 10,358 shares in the last quarter. Private Capital Management LLC boosted its position in IMAX by 54.3% during the 4th quarter. Private Capital Management LLC now owns 1,185,715 shares of the company’s stock valued at $17,809,000 after acquiring an additional 417,169 shares in the last quarter. Victory Capital Management Inc. boosted its position in IMAX by 13.0% during the 4th quarter. Victory Capital Management Inc. now owns 825,319 shares of the company’s stock valued at $12,396,000 after acquiring an additional 95,182 shares in the last quarter. Alpine Woods Capital Investors LLC boosted its position in IMAX by 33.8% during the 3rd quarter. Alpine Woods Capital Investors LLC now owns 392,278 shares of the company’s stock valued at $7,579,000 after acquiring an additional 99,163 shares in the last quarter. Finally, Mizuho Markets Americas LLC bought a new stake in IMAX during the 3rd quarter valued at $7,118,000. 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.