Barrington Research Reaffirms Outperform Rating for IMAX (NYSE:IMAX)

IMAX (NYSE:IMAX)‘s stock had its “outperform” rating reissued by investment analysts at Barrington Research in a note issued to investors on Wednesday, Benzinga reports. They currently have a $24.00 price target on the stock. Barrington Research’s target price indicates a potential upside of 20.91% from the company’s current price.

IMAX has been the subject of several other research reports. B. Riley boosted their price target on shares of IMAX from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. Roth Mkm boosted their price target on shares of IMAX from $23.00 to $27.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Seaport Res Ptn raised shares of IMAX to a “strong-buy” rating in a research report on Wednesday, July 24th. Macquarie lifted their price objective on shares of IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Finally, Rosenblatt Securities raised their price target on IMAX from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.67.

IMAX Trading Up 0.6 %

IMAX stock traded up $0.11 during mid-day trading on Wednesday, hitting $19.85. The company’s stock had a trading volume of 171,666 shares, compared to its average volume of 780,048. IMAX has a 1 year low of $13.20 and a 1 year high of $22.13. The firm has a market capitalization of $1.05 billion, a PE ratio of 41.36, a price-to-earnings-growth ratio of 1.38 and a beta of 1.25. The stock’s fifty day moving average is $20.26 and its two-hundred day moving average is $17.85.

IMAX (NYSE:IMAX) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.11. The firm had revenue of $88.96 million during the quarter, compared to the consensus estimate of $74.52 million. IMAX had a return on equity of 7.78% and a net margin of 5.97%. The company’s quarterly revenue was down 9.2% on a year-over-year basis. During the same period last year, the company earned $0.17 EPS. On average, equities analysts expect that IMAX will post 0.69 EPS for the current fiscal year.

Institutional Trading of IMAX

Several hedge funds have recently made changes to their positions in IMAX. Headlands Technologies LLC purchased a new position in IMAX in the second quarter worth $35,000. Price T Rowe Associates Inc. MD lifted its stake in shares of IMAX by 19.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,082 shares of the company’s stock valued at $212,000 after purchasing an additional 2,153 shares during the period. PNC Financial Services Group Inc. acquired a new position in IMAX during the fourth quarter worth about $33,000. Summit Securities Group LLC purchased a new position in IMAX in the second quarter valued at about $80,000. Finally, Partnership Wealth Management LLC boosted its stake in shares of IMAX by 63.1% during the 1st quarter. Partnership Wealth Management LLC now owns 12,932 shares of the company’s stock worth $209,000 after acquiring an additional 5,005 shares in the last quarter. Institutional investors and hedge funds own 93.51% of the company’s stock.

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.