IMAX (NYSE:IMAX) Earns Outperform Rating from Barrington Research

Barrington Research restated their outperform rating on shares of IMAX (NYSE:IMAX) in a research report report published on Friday morning,Benzinga reports. Barrington Research currently has a $30.00 target price on the stock.

Several other analysts have also weighed in on IMAX. Benchmark reaffirmed a “buy” rating and issued a $30.00 price objective on shares of IMAX in a research note on Friday. StockNews.com upgraded shares of IMAX from a “hold” rating to a “buy” rating in a research report on Thursday, January 2nd. Wedbush restated an “outperform” rating on shares of IMAX in a research report on Wednesday, November 27th. Rosenblatt Securities restated a “buy” rating and set a $28.00 price objective on shares of IMAX in a research report on Thursday, October 31st. Finally, Roth Mkm lifted their target price on shares of IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $27.38.

IMAX Stock Performance

NYSE:IMAX opened at $23.12 on Friday. The stock has a 50-day simple moving average of $25.03 and a 200 day simple moving average of $21.70. IMAX has a 52-week low of $13.20 and a 52-week high of $26.84. The company has a market cap of $1.22 billion, a PE ratio of 52.55, a PEG ratio of 1.69 and a beta of 1.24.

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

Insider Activity

In other IMAX news, insider Kenneth Ian Weissman sold 6,309 shares of IMAX stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $25.51, for a total value of $160,942.59. Following the sale, the insider now owns 25,139 shares of the company’s stock, valued at approximately $641,295.89. The trade was a 20.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Natasha Fernandes sold 2,957 shares of the stock in a transaction that occurred 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. This represents 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 worth $1,662,110 over the last quarter. Insiders own 24.08% of the company’s stock.

Institutional Investors Weigh In On IMAX

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IMAX. Principal Financial Group Inc. raised its holdings in IMAX by 18.5% during the 2nd quarter. Principal Financial Group Inc. now owns 63,818 shares of the company’s stock valued at $1,070,000 after acquiring an additional 9,974 shares during the period. Wedbush Securities Inc. raised its stake in shares of IMAX by 112.7% during the 2nd quarter. Wedbush Securities Inc. now owns 29,651 shares of the company’s stock valued at $497,000 after purchasing an additional 15,712 shares during the period. Headlands Technologies LLC purchased a new stake in IMAX during the 2nd quarter worth about $35,000. American Century Companies Inc. boosted its stake in IMAX by 57.0% in the 2nd quarter. American Century Companies Inc. now owns 120,021 shares of the company’s stock worth $2,013,000 after purchasing an additional 43,584 shares during the period. Finally, XTX Topco Ltd purchased a new position in IMAX during the 2nd quarter valued at about $208,000. 93.51% of the stock is currently 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.