B. Riley Reiterates Buy Rating for IMAX (NYSE:IMAX)

IMAX (NYSE:IMAX)‘s stock had its “buy” rating reiterated by equities researchers at B. Riley in a note issued to investors on Friday, May 16th, Marketbeat Ratings reports. They currently have a $36.00 price target on the stock. B. Riley’s price target would suggest a potential upside of 33.75% from the stock’s current price.

Several other research analysts have also recently weighed in on the company. Wedbush restated an “outperform” rating and set a $32.00 target price on shares of IMAX in a report on Thursday, April 17th. Benchmark reiterated a “buy” rating and issued a $30.00 price objective on shares of IMAX in a report on Thursday, April 10th. Macquarie upped their price objective on IMAX from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Friday, April 25th. Barrington Research reiterated an “outperform” rating and issued a $32.00 price objective on shares of IMAX in a report on Thursday, April 24th. Finally, Wells Fargo & Company decreased their price objective on IMAX from $32.00 to $30.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $31.22.

IMAX Price Performance

Shares of IMAX stock opened at $26.92 on Friday. The stock has a market cap of $1.45 billion, a P/E ratio of 54.93, a P/E/G ratio of 1.49 and a beta of 0.79. The stock’s 50 day simple moving average is $24.89 and its 200-day simple moving average is $24.89. IMAX has a 1-year low of $14.94 and a 1-year high of $27.77.

IMAX (NYSE:IMAX) last issued its earnings results on Wednesday, April 23rd. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.02. The business had revenue of $86.67 million for the quarter, compared to analysts’ expectations of $82.95 million. IMAX had a return on equity of 8.60% and a net margin of 7.40%. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.15 EPS. As a group, research analysts expect that IMAX will post 0.91 EPS for the current fiscal year.

Institutional Trading of IMAX

Large investors have recently modified their holdings of the stock. Blue Trust Inc. lifted its holdings in IMAX by 138.5% during the 4th quarter. Blue Trust Inc. now owns 966 shares of the company’s stock worth $25,000 after buying an additional 561 shares during the last quarter. Creative Financial Designs Inc. ADV acquired a new position in shares of IMAX during the 1st quarter worth about $59,000. Tower Research Capital LLC TRC boosted its position in shares of IMAX by 415.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,236 shares of the company’s stock worth $185,000 after acquiring an additional 5,832 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of IMAX during the 1st quarter worth about $202,000. Finally, Wealthfront Advisers LLC acquired a new position in shares of IMAX during the 4th quarter worth about $217,000. Hedge funds and other 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.