IMAX’s (IMAX) Buy Rating Reaffirmed at Benchmark

IMAX (NYSE:IMAX)‘s stock had its “buy” rating reaffirmed by equities research analysts at Benchmark in a report issued on Thursday, Benzinga reports. They presently have a $22.00 price target on the stock. Benchmark’s target price indicates a potential upside of 30.49% from the stock’s previous close.

Several other equities analysts have also weighed in on IMAX. Rosenblatt Securities reaffirmed a “buy” rating and issued a $25.00 price objective on shares of IMAX in a research note on Monday, June 17th. Barrington Research reissued an “outperform” rating and set a $24.00 price target on shares of IMAX in a research report on Monday, April 22nd. Finally, Wedbush reissued an “outperform” rating and set a $22.00 price target on shares of IMAX in a research report on Friday, April 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $20.57.

IMAX Price Performance

NYSE IMAX opened at $16.86 on Thursday. The firm has a market capitalization of $887.17 million, a P/E ratio of 35.13, a P/E/G ratio of 1.37 and a beta of 1.21. IMAX has a 1-year low of $13.20 and a 1-year high of $20.70. The business’s 50-day simple moving average is $16.54 and its 200-day simple moving average is $15.78.

IMAX (NYSE:IMAX) last released its quarterly earnings data on Thursday, April 25th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.05. The business had revenue of $79.12 million for the quarter, compared to analyst estimates of $77.88 million. IMAX had a return on equity of 9.47% and a net margin of 7.13%. On average, equities research analysts expect that IMAX will post 0.6 EPS for the current fiscal year.

Insiders Place Their Bets

In other IMAX news, EVP Calamera Pablo sold 6,130 shares of IMAX stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $17.05, for a total transaction of $104,516.50. Following the sale, the executive vice president now directly owns 42,269 shares in the company, valued at approximately $720,686.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 24.08% of the stock is owned by company insiders.

Institutional Investors Weigh In On IMAX

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bayesian Capital Management LP increased its holdings in shares of IMAX by 84.8% in the 1st quarter. Bayesian Capital Management LP now owns 22,884 shares of the company’s stock valued at $370,000 after acquiring an additional 10,500 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of IMAX by 19.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,082 shares of the company’s stock valued at $212,000 after acquiring an additional 2,153 shares during the last quarter. PEAK6 Investments LLC bought a new stake in shares of IMAX in the 1st quarter valued at approximately $210,000. Keeley Teton Advisors LLC increased its holdings in shares of IMAX by 16.3% in the 1st quarter. Keeley Teton Advisors LLC now owns 58,605 shares of the company’s stock valued at $948,000 after acquiring an additional 8,205 shares during the last quarter. Finally, Acadian Asset Management LLC increased its holdings in shares of IMAX by 178.7% in the 1st quarter. Acadian Asset Management LLC now owns 490,917 shares of the company’s stock valued at $7,934,000 after acquiring an additional 314,742 shares during the last quarter. 93.51% of the stock is currently owned by hedge funds and other institutional investors.

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.