IMAX (NYSE:IMAX) Receives “Buy” Rating from Benchmark

Benchmark reissued their buy rating on shares of IMAX (NYSE:IMAX) in a report released on Friday, Benzinga reports. Benchmark currently has a $22.00 price target on the stock.

Other analysts have also issued research reports about the company. B. Riley dropped their price target on IMAX from $27.00 to $21.00 and set a buy rating for the company in a research note on Tuesday, January 2nd. JPMorgan Chase & Co. cut their target price on shares of IMAX from $20.00 to $17.00 and set a neutral rating on the stock in a research note on Tuesday, February 6th. Rosenblatt Securities decreased their price target on shares of IMAX from $30.00 to $25.00 and set a buy rating for the company in a research note on Tuesday, February 13th. Wedbush reaffirmed an outperform rating and set a $22.00 price objective on shares of IMAX in a research report on Friday. Finally, Barrington Research reissued an outperform rating and issued a $24.00 target price on shares of IMAX in a research report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, IMAX presently has an average rating of Moderate Buy and a consensus price target of $20.57.

IMAX Stock Performance

Shares of IMAX opened at $17.15 on Friday. IMAX has a fifty-two week low of $13.20 and a fifty-two week high of $21.82. The firm has a 50 day moving average price of $16.41 and a 200-day moving average price of $16.04. The firm has a market cap of $908.09 million, a price-to-earnings ratio of 35.73, a PEG ratio of 1.50 and a beta of 1.25.

IMAX (NYSE:IMAX) last released its earnings results on Thursday, April 25th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.05. The company had revenue of $79.12 million during the quarter, compared to analyst estimates of $77.88 million. IMAX had a return on equity of 9.37% and a net margin of 7.13%. As a group, equities research analysts predict that IMAX will post 0.57 earnings per share for the current year.

Insider Transactions at IMAX

In related news, VP Robert D. Lister sold 25,000 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $16.87, for a total transaction of $421,750.00. Following the sale, the vice president now directly 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 Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 24.33% of the company’s stock.

Institutional Investors Weigh In On IMAX

A number of large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new position in shares of IMAX in the 3rd quarter worth approximately $139,000. Raymond James Financial Services Advisors Inc. raised its position in IMAX by 86.5% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 24,824 shares of the company’s stock worth $480,000 after acquiring an additional 11,516 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of IMAX by 41.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,531 shares of the company’s stock worth $242,000 after acquiring an additional 3,682 shares during the last quarter. Knights of Columbus Asset Advisors LLC grew its position in shares of IMAX by 9.7% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 227,058 shares of the company’s stock valued at $4,387,000 after acquiring an additional 20,132 shares during the period. Finally, Arizona State Retirement System increased its stake in shares of IMAX by 8.9% in the 3rd quarter. Arizona State Retirement System now owns 13,212 shares of the company’s stock worth $255,000 after purchasing an additional 1,085 shares in the last quarter. 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.