IMAX Co. (NYSE:IMAX) Receives $24.11 Average PT from Analysts

IMAX Co. (NYSE:IMAX) has been assigned a consensus rating of “Moderate Buy” from the ten research firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $24.22.

IMAX has been the subject of a number of recent analyst reports. Seaport Res Ptn raised shares of IMAX to a “strong-buy” rating in a report on Wednesday, July 24th. Macquarie increased their price target on IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Barrington Research reaffirmed an “outperform” rating and set a $24.00 target price on shares of IMAX in a research note on Thursday. Rosenblatt Securities reissued a “buy” rating and issued a $28.00 price target on shares of IMAX in a research note on Thursday. Finally, Roth Mkm upped their price objective on shares of IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday.

IMAX Trading Down 1.0 %

IMAX stock opened at $24.06 on Friday. The firm has a market cap of $1.27 billion, a PE ratio of 54.68, a P/E/G ratio of 1.63 and a beta of 1.25. IMAX has a 12 month low of $13.20 and a 12 month high of $24.39. The stock’s 50 day simple moving average is $20.75 and its two-hundred day simple moving average is $18.69.

Institutional Investors Weigh In On IMAX

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. US Bancorp DE raised its position in IMAX by 23.4% in the third 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 period. Headlands Technologies LLC acquired a new position in IMAX during the 2nd quarter worth about $35,000. Price T Rowe Associates Inc. MD boosted its holdings in IMAX by 19.7% during 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 period. PNC Financial Services Group Inc. acquired a new position in IMAX in the 4th quarter valued at about $33,000. Finally, nVerses Capital LLC purchased a new stake in IMAX during the third quarter worth about $70,000. 93.51% of the stock is 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.