Wells Fargo & Company Issues Positive Forecast for IMAX (NYSE:IMAX) Stock Price

IMAX (NYSE:IMAX) had its price objective lifted by investment analysts at Wells Fargo & Company from $26.00 to $32.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 17.50% from the company’s previous close.

IMAX has been the topic of a number of other research reports. Roth Mkm lifted their price target on IMAX from $27.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, October 31st. StockNews.com downgraded IMAX from a “buy” rating to a “hold” rating in a report on Thursday, February 13th. Barrington Research lifted their price target on IMAX from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday. JPMorgan Chase & Co. lifted their price target on IMAX from $21.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Finally, Wedbush reiterated an “outperform” rating and set a $32.00 price target on shares of IMAX in a report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

IMAX Stock Up 0.8 %

Shares of IMAX stock opened at $27.23 on Thursday. The stock’s fifty day moving average is $24.63 and its 200-day moving average is $22.93. The firm has a market capitalization of $1.43 billion, a PE ratio of 61.90, a price-to-earnings-growth ratio of 1.49 and a beta of 1.22. IMAX has a 12-month low of $14.90 and a 12-month high of $27.38.

IMAX (NYSE:IMAX) last announced its earnings results on Wednesday, February 19th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.14). IMAX had a return on equity of 7.53% and a net margin of 6.74%. Analysts expect that IMAX will post 0.64 EPS for the current year.

Insider Transactions at IMAX

In related news, insider Kenneth Ian Weissman sold 6,309 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $25.51, for a total transaction of $160,942.59. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert D. Lister sold 55,910 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 138,889 shares of the company’s stock, valued at $3,541,669.50. This represents a 28.70 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 65,176 shares of company stock worth $1,662,110. 24.08% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On IMAX

Several large investors have recently made changes to their positions in the business. Blue Trust Inc. raised its holdings in IMAX by 138.5% in the 4th quarter. Blue Trust Inc. now owns 966 shares of the company’s stock valued at $25,000 after acquiring an additional 561 shares in the last quarter. Huntington National Bank acquired a new position in IMAX in the 3rd quarter valued at approximately $34,000. Quarry LP raised its holdings in 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 acquiring an additional 2,350 shares in the last quarter. US Bancorp DE raised its holdings in IMAX by 23.4% in the 3rd quarter. US Bancorp DE now owns 7,656 shares of the company’s stock valued at $157,000 after acquiring an additional 1,452 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in IMAX by 415.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,236 shares of the company’s stock valued at $185,000 after acquiring an additional 5,832 shares in the last quarter. Institutional investors and hedge funds own 93.51% of the company’s stock.

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.