IMAX Co. (NYSE:IMAX) Receives Consensus Rating of “Buy” from Brokerages

IMAX Co. (NYSE:IMAX) has been given a consensus recommendation of “Buy” by the ten brokerages that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $30.67.

Several equities analysts recently issued reports on IMAX shares. Roth Mkm lifted their price objective on IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Rosenblatt Securities raised their price objective on IMAX from $28.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Barrington Research raised their price objective on shares of IMAX from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Benchmark reissued a “buy” rating and issued a $30.00 price objective on shares of IMAX in a report on Thursday, February 20th. Finally, Wells Fargo & Company increased their target price on shares of IMAX from $26.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th.

Insider Buying and Selling at IMAX

In related news, insider Kenneth Ian Weissman sold 6,309 shares of IMAX stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $25.51, for a total value of $160,942.59. Following the completion of the transaction, the insider now directly owns 25,139 shares of the company’s stock, valued at $641,295.89. The trade was a 20.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 transaction of $1,425,705.00. Following the transaction, the executive vice president now owns 138,889 shares in the company, valued at $3,541,669.50. The trade was a 28.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 65,176 shares of company stock valued at $1,662,110 in the last 90 days. 24.08% of the stock is currently owned by company insiders.

Institutional Trading of IMAX

Large investors have recently bought and sold shares of the business. Polar Asset Management Partners Inc. raised its holdings in IMAX by 191.6% during the fourth quarter. Polar Asset Management Partners Inc. now owns 204,536 shares of the company’s stock worth $5,236,000 after acquiring an additional 134,389 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in IMAX by 87.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 147,978 shares of the company’s stock worth $3,788,000 after acquiring an additional 68,957 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in IMAX in the fourth quarter valued at $999,000. Two Sigma Investments LP acquired a new position in shares of IMAX during the 4th quarter worth about $2,411,000. Finally, State of Wyoming raised its holdings in shares of IMAX by 184.6% in the 4th quarter. State of Wyoming now owns 21,606 shares of the company’s stock valued at $553,000 after purchasing an additional 14,014 shares during the period. 93.51% of the stock is owned by institutional investors.

IMAX Stock Performance

Shares of IMAX opened at $25.32 on Friday. The stock has a market capitalization of $1.34 billion, a PE ratio of 51.66, a P/E/G ratio of 1.49 and a beta of 1.22. The company’s 50-day simple moving average is $24.72 and its 200-day simple moving average is $23.16. IMAX has a 1 year low of $14.94 and a 1 year high of $27.77.

IMAX (NYSE:IMAX) last released its quarterly 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). IMAX had a net margin of 7.40% and a return on equity of 8.60%. The business had revenue of $92.67 million during the quarter, compared to analysts’ expectations of $104.08 million. On average, sell-side analysts predict that IMAX will post 0.91 earnings per share for the current year.

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.