IMAX Corporation (NYSE:IMAX) Given Average Recommendation of “Moderate Buy” by Brokerages

IMAX Corporation (NYSE:IMAX) has received an average recommendation of “Moderate Buy” from the eleven research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $36.6667.

IMAX has been the subject of several research analyst reports. Benchmark raised their price target on IMAX from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Wedbush raised their target price on IMAX from $35.00 to $39.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Barrington Research reaffirmed an “outperform” rating and issued a $37.00 target price on shares of IMAX in a research report on Thursday, October 23rd. Wall Street Zen upgraded shares of IMAX from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 11th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $42.00 price objective on shares of IMAX in a research note on Friday, October 24th.

Insider Buying and Selling at IMAX

In other IMAX news, insider Kenneth Ian Weissman sold 15,072 shares of the business’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $25.65, for a total value of $386,596.80. Following the completion of the transaction, the insider owned 26,133 shares in the company, valued at $670,311.45. The trade was a 36.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Robert D. Lister sold 50,143 shares of the stock in a transaction on Friday, November 7th. The shares were sold at an average price of $34.67, for a total value of $1,738,457.81. Following the completion of the sale, the vice president owned 161,421 shares in the company, valued at approximately $5,596,466.07. The trade was a 23.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 91,403 shares of company stock valued at $2,992,994 in the last 90 days. Company insiders own 23.18% of the company’s stock.

Hedge Funds Weigh In On IMAX

Hedge funds and other institutional investors have recently made changes to their positions in the stock. TD Waterhouse Canada Inc. grew its position in shares of IMAX by 125.0% during the second quarter. TD Waterhouse Canada Inc. now owns 900 shares of the company’s stock worth $25,000 after buying an additional 500 shares in the last quarter. First Horizon Corp purchased a new position in IMAX in the third quarter worth approximately $34,000. Jones Financial Companies Lllp grew its holdings in IMAX by 43.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,041 shares of the company’s stock worth $34,000 after acquiring an additional 317 shares in the last quarter. Clearstead Advisors LLC acquired a new position in IMAX during the 3rd quarter worth approximately $35,000. Finally, Farther Finance Advisors LLC increased its position in shares of 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 purchasing an additional 1,001 shares during the last quarter. Hedge funds and other institutional investors own 93.51% of the company’s stock.

IMAX Stock Performance

IMAX stock opened at $35.00 on Wednesday. The company’s 50 day simple moving average is $32.31 and its 200-day simple moving average is $28.83. IMAX has a 1 year low of $20.48 and a 1 year high of $35.66. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of 49.30, a price-to-earnings-growth ratio of 2.05 and a beta of 0.60.

IMAX (NYSE:IMAX) last posted its quarterly earnings data on Thursday, October 23rd. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.16. IMAX had a net margin of 10.47% and a return on equity of 9.91%. The firm had revenue of $106.65 million during the quarter, compared to analysts’ expectations of $102.88 million. During the same quarter last year, the company posted $0.35 EPS. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. Equities analysts expect that IMAX will post 0.91 earnings per share for the current year.

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.