IMAX (NYSE:IMAX) Given “Buy” Rating at Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of IMAX (NYSE:IMAX) in a research report report published on Thursday,Benzinga reports. Rosenblatt Securities currently has a $28.00 target price on the stock.

Several other analysts also recently weighed in on IMAX. Roth Mkm lifted their price objective on IMAX from $27.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. lifted their target price on IMAX from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Benchmark reiterated a “buy” rating and issued a $30.00 target price on shares of IMAX in a research note on Friday, January 10th. Barrington Research reiterated an “outperform” rating and issued a $30.00 target price on shares of IMAX in a research note on Friday, January 10th. Finally, Wedbush reiterated an “outperform” rating on shares of IMAX in a research note on Wednesday, November 27th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, IMAX presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.38.

IMAX Stock Down 1.7 %

Shares of IMAX opened at $22.39 on Thursday. The company has a market cap of $1.18 billion, a PE ratio of 50.89, a P/E/G ratio of 1.25 and a beta of 1.24. The business has a fifty day moving average of $24.90 and a 200 day moving average of $21.80. IMAX has a 52-week low of $13.20 and a 52-week high of $26.84.

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

Insiders Place Their Bets

In other IMAX news, CFO Natasha Fernandes sold 2,957 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $25.52, for a total value of $75,462.64. Following the completion of the sale, the chief financial officer now directly owns 14,883 shares of the company’s stock, valued at $379,814.16. This trade represents a 16.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert D. Lister sold 55,910 shares of the firm’s stock in a transaction 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 sale, the executive vice president now directly owns 138,889 shares of the company’s stock, valued at $3,541,669.50. This trade represents a 28.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 65,176 shares of company stock valued at $1,662,110 in the last three months. 24.08% of the stock is currently owned by insiders.

Institutional Trading of IMAX

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Lord Abbett & CO. LLC acquired a new stake in shares of IMAX during the 3rd quarter worth about $6,322,000. Public Employees Retirement System of Ohio acquired a new stake in shares of IMAX during the 3rd quarter worth about $1,555,000. Pier Capital LLC acquired a new stake in shares of IMAX during the 3rd quarter worth about $4,221,000. Castleark Management LLC purchased a new position in IMAX during the 3rd quarter valued at about $5,199,000. Finally, Systematic Financial Management LP purchased a new position in IMAX during the 3rd quarter valued at about $838,000. 93.51% of the stock is owned by institutional investors and hedge funds.

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.