IMAX (NYSE:IMAX) Given “Buy” Rating at Benchmark

IMAX (NYSE:IMAX)‘s stock had its “buy” rating restated by Benchmark in a research note issued to investors on Friday,Benzinga reports. They presently have a $30.00 price objective on the stock. Benchmark’s target price would indicate a potential upside of 29.76% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. Barrington Research restated an “outperform” rating and set a $24.00 target price on shares of IMAX in a research note on Thursday, October 31st. Roth Mkm increased their price objective on shares of IMAX from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. StockNews.com upgraded shares of IMAX from a “hold” rating to a “buy” rating in a report on Thursday, January 2nd. Rosenblatt Securities reiterated a “buy” rating and set a $28.00 target price on shares of IMAX in a research note on Thursday, October 31st. Finally, Wedbush restated an “outperform” rating on shares of IMAX in a research note on Wednesday, November 27th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $27.38.

IMAX Stock Down 1.9 %

Shares of IMAX opened at $23.12 on Friday. The company has a market capitalization of $1.22 billion, a P/E ratio of 52.55, a price-to-earnings-growth ratio of 1.69 and a beta of 1.24. IMAX has a twelve month low of $13.20 and a twelve month high of $26.84. The firm has a 50 day moving average of $25.03 and a 200 day moving average of $21.66.

IMAX (NYSE:IMAX) last posted its earnings results on Wednesday, October 30th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.12. The business had revenue of $91.50 million during the quarter, compared to analyst estimates of $93.71 million. IMAX had a return on equity of 7.53% and a net margin of 6.74%. The company’s quarterly revenue was down 11.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.27 EPS. On average, sell-side analysts expect that IMAX will post 0.77 EPS for the current year.

Insider Activity

In other IMAX news, EVP Robert D. Lister sold 55,910 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $25.50, for a total value of $1,425,705.00. Following the completion of the transaction, the executive vice president now directly owns 138,889 shares in the company, valued at $3,541,669.50. This represents a 28.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Natasha Fernandes sold 2,957 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $25.52, for a total transaction of $75,462.64. Following the transaction, the chief financial officer now directly owns 14,883 shares of the company’s stock, valued at $379,814.16. The trade was a 16.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 65,176 shares of company stock valued at $1,662,110 in the last 90 days. Company insiders own 24.08% of the company’s stock.

Institutional Investors Weigh In On IMAX

Several large investors have recently made changes to their positions in IMAX. Huntington National Bank bought a new position in shares of IMAX in the 3rd quarter valued at about $34,000. Headlands Technologies LLC purchased a new stake in IMAX during the second quarter valued at approximately $35,000. Quarry LP lifted its stake in shares of IMAX by 78,333.3% in the 3rd quarter. Quarry LP now owns 2,353 shares of the company’s stock valued at $48,000 after purchasing an additional 2,350 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of IMAX in the 3rd quarter worth approximately $70,000. Finally, US Bancorp DE increased its position in shares of IMAX by 23.4% during the 3rd quarter. US Bancorp DE now owns 7,656 shares of the company’s stock valued at $157,000 after purchasing an additional 1,452 shares during the last quarter. 93.51% of the stock is owned by 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.