JPMorgan Chase & Co. Forecasts Strong Price Appreciation for IMAX (NYSE:IMAX) Stock

IMAX (NYSE:IMAX) had its target price increased by equities researchers at JPMorgan Chase & Co. from $31.00 to $32.00 in a report released on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 0.93% from the company’s current price.

Several other research analysts have also recently commented on IMAX. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of IMAX in a research report on Wednesday, October 8th. B. Riley reissued a “buy” rating on shares of IMAX in a report on Friday, October 10th. Wall Street Zen raised IMAX from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 11th. The Goldman Sachs Group reissued a “sell” rating on shares of IMAX in a report on Friday, July 25th. Finally, Barrington Research reissued an “outperform” rating and set a $37.00 price objective on shares of IMAX in a report on Thursday. Nine analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, IMAX currently has an average rating of “Moderate Buy” and a consensus target price of $35.80.

IMAX Price Performance

Shares of IMAX stock opened at $31.71 on Friday. The stock has a market cap of $1.71 billion, a P/E ratio of 44.65, a price-to-earnings-growth ratio of 2.03 and a beta of 0.62. IMAX has a one year low of $20.17 and a one year high of $34.14. The stock has a fifty day moving average price of $30.88 and a 200 day moving average price of $27.85.

IMAX (NYSE:IMAX) last issued its earnings results on Thursday, October 23rd. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.31 by $0.16. The firm had revenue of $106.65 million during the quarter, compared to analysts’ expectations of $102.88 million. IMAX had a return on equity of 10.21% and a net margin of 10.47%.IMAX’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period last year, the business earned $0.35 earnings per share. Equities research analysts anticipate that IMAX will post 0.91 EPS for the current year.

Insider Activity

In other news, insider Kenneth Ian Weissman sold 15,072 shares of the business’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $25.65, for a total transaction of $386,596.80. Following the completion of the transaction, the insider directly owned 26,133 shares in the company, valued at approximately $670,311.45. The trade was a 36.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Robert D. Lister sold 20,000 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $32.80, for a total value of $656,000.00. Following the transaction, the vice president owned 161,421 shares of the company’s stock, valued at $5,294,608.80. The trade was a 11.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. 23.18% of the stock is currently owned by insiders.

Institutional Investors Weigh In On IMAX

Institutional investors have recently bought and sold shares of the company. TD Waterhouse Canada Inc. lifted its stake in IMAX by 125.0% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 900 shares of the company’s stock valued at $25,000 after acquiring an additional 500 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in IMAX by 467.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,215 shares of the company’s stock valued at $40,000 after acquiring an additional 1,001 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in IMAX in the 3rd quarter valued at approximately $57,000. Ridgewood Investments LLC bought a new stake in shares of IMAX during the 2nd quarter worth approximately $62,000. Finally, Creative Financial Designs Inc. ADV bought a new stake in shares of IMAX during the 1st quarter worth approximately $59,000. Institutional investors own 93.51% of the company’s stock.

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.