Rosenblatt Securities Reaffirms “Buy” Rating for IMAX (NYSE:IMAX)

IMAX (NYSE:IMAX)‘s stock had its “buy” rating restated by stock analysts at Rosenblatt Securities in a research note issued to investors on Thursday,Benzinga reports. They currently have a $35.00 target price on the stock. Rosenblatt Securities’ target price indicates a potential upside of 46.50% from the company’s previous close.

IMAX has been the topic of a number of other reports. Wells Fargo & Company lifted their target price on IMAX from $26.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Benchmark reissued a “buy” rating and set a $30.00 price objective on shares of IMAX in a report on Thursday, April 10th. JPMorgan Chase & Co. cut their target price on IMAX from $27.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Macquarie lifted their price target on shares of IMAX from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Finally, Barrington Research restated an “outperform” rating and issued a $32.00 price objective on shares of IMAX in a research note on Thursday. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $30.56.

IMAX Stock Up 2.6 %

Shares of IMAX stock opened at $23.89 on Thursday. The stock has a 50 day moving average of $24.70 and a 200-day moving average of $24.30. The firm has a market cap of $1.27 billion, a PE ratio of 48.76, a price-to-earnings-growth ratio of 1.49 and a beta of 0.91. IMAX has a 12 month low of $14.94 and a 12 month high of $27.77.

IMAX (NYSE:IMAX) last released its earnings results on Wednesday, February 19th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.14). The company had revenue of $92.67 million for the quarter, compared to analyst estimates of $104.08 million. IMAX had a net margin of 7.40% and a return on equity of 8.60%. As a group, equities analysts predict that IMAX will post 0.91 EPS for the current fiscal year.

Hedge Funds Weigh In On IMAX

Institutional investors have recently added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV bought a new position in shares of IMAX in the first quarter valued at approximately $59,000. Mission Wealth Management LP increased its holdings in IMAX by 2.9% during the 1st quarter. Mission Wealth Management LP now owns 30,408 shares of the company’s stock valued at $801,000 after purchasing an additional 845 shares in the last quarter. North Star Investment Management Corp. bought a new position in IMAX in the 1st quarter valued at $290,000. Wesbanco Bank Inc. acquired a new position in IMAX in the first quarter worth $477,000. Finally, Rhumbline Advisers grew its holdings in shares of IMAX by 7.7% during the first quarter. Rhumbline Advisers now owns 60,447 shares of the company’s stock worth $1,593,000 after purchasing an additional 4,325 shares during the last quarter. 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.