IMAX’s (IMAX) “Buy” Rating Reaffirmed at Benchmark

Benchmark reiterated their buy rating on shares of IMAX (NYSE:IMAX) in a research note released on Thursday morning,Benzinga reports. Benchmark currently has a $30.00 price objective on the stock.

A number of other equities analysts have also recently weighed in on the stock. Barrington Research upped their price target on shares of IMAX from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday. JPMorgan Chase & Co. increased their price objective on shares of IMAX from $21.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Wedbush restated an “outperform” rating and issued a $32.00 price target on shares of IMAX in a report on Wednesday, February 12th. Wells Fargo & Company increased their price objective on shares of IMAX from $26.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Rosenblatt Securities lifted their price objective on shares of IMAX from $28.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, IMAX presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.44.

IMAX Stock Performance

Shares of IMAX stock opened at $26.90 on Thursday. The stock has a market capitalization of $1.42 billion, a P/E ratio of 54.90, a price-to-earnings-growth ratio of 1.50 and a beta of 1.22. The company has a 50 day moving average price of $24.65 and a 200 day moving average price of $22.96. IMAX has a fifty-two week low of $14.94 and a fifty-two week high of $27.38.

IMAX (NYSE:IMAX) last posted 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). The firm had revenue of $92.67 million for the quarter, compared to analyst estimates of $104.08 million. IMAX had a return on equity of 8.79% and a net margin of 7.40%. On average, research analysts forecast that IMAX will post 0.91 EPS for the current fiscal year.

Insider Activity

In other IMAX news, EVP Robert D. Lister sold 55,910 shares of the business’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 of the company’s stock, valued at $3,541,669.50. The trade was a 28.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Natasha Fernandes sold 2,957 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 14,883 shares in the company, valued at $379,814.16. This trade represents a 16.58 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,176 shares of company stock worth $1,662,110. 24.08% of the stock is owned by corporate insiders.

Institutional Trading of IMAX

Several institutional investors have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of IMAX by 87.3% during the 4th 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 buying an additional 68,957 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of IMAX during the 4th quarter valued at about $999,000. Two Sigma Investments LP bought a new stake in shares of IMAX during the 4th quarter valued at about $2,411,000. State of Wyoming boosted its position in shares of IMAX by 184.6% during 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 in the last quarter. Finally, Polar Asset Management Partners Inc. boosted its holdings in IMAX by 191.6% in 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. 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.