IMAX (NYSE:IMAX) Price Target Raised to $50.00

IMAX (NYSE:IMAX) had its price target upped by The Goldman Sachs Group from $42.00 to $50.00 in a research report report published on Friday,Benzinga reports. They currently have a neutral rating on the stock.

Other research analysts also recently issued research reports about the stock. Roth Capital upped their price target on shares of IMAX from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $60.00 price objective on shares of IMAX in a research report on Friday, May 22nd. Weiss Ratings upgraded shares of IMAX from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Seaport Research Partners reaffirmed a “buy” rating and issued a $50.00 target price on shares of IMAX in a research note on Wednesday, June 24th. Finally, Barrington Research upped their target price on shares of IMAX from $46.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Ten equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $54.00.

IMAX Price Performance

NYSE IMAX opened at $51.72 on Friday. The stock’s 50 day simple moving average is $46.36 and its 200 day simple moving average is $41.31. IMAX has a one year low of $28.93 and a one year high of $55.57. The firm has a market cap of $2.84 billion, a PE ratio of 71.83, a price-to-earnings-growth ratio of 1.60 and a beta of 0.40.

IMAX (NYSE:IMAX) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.13. The firm had revenue of $102.84 million during the quarter, compared to the consensus estimate of $96.09 million. IMAX had a return on equity of 15.47% and a net margin of 9.84%.The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 EPS. As a group, equities analysts expect that IMAX will post 1.53 earnings per share for the current year.

Insider Activity at IMAX

In related news, insider Kenneth Weissman sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $54.54, for a total value of $436,320.00. Following the transaction, the insider owned 28,205 shares in the company, valued at $1,538,300.70. This trade represents a 22.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard Gelfond sold 205,504 shares of IMAX stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $53.27, for a total value of $10,947,198.08. Following the completion of the sale, the chief executive officer owned 765,002 shares of the company’s stock, valued at approximately $40,751,656.54. The trade was a 21.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 484,757 shares of company stock worth $25,513,021 over the last 90 days. Insiders own 20.55% of the company’s stock.

Hedge Funds Weigh In On IMAX

Several large investors have recently bought and sold shares of the business. CIBC Private Wealth Group LLC acquired a new stake in IMAX during the 3rd quarter worth $27,000. Quarry LP boosted its position in shares of IMAX by 166.8% in the 4th quarter. Quarry LP now owns 875 shares of the company’s stock worth $32,000 after purchasing an additional 547 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its position in shares of IMAX by 2,310.4% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,157 shares of the company’s stock worth $38,000 after purchasing an additional 1,109 shares during the last quarter. Aster Capital Management DIFC Ltd grew its stake in shares of IMAX by 863.0% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,666 shares of the company’s stock worth $62,000 after purchasing an additional 1,493 shares during the period. Finally, Kestra Advisory Services LLC acquired a new stake in shares of IMAX during the fourth quarter worth $74,000. 93.51% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting IMAX

Here are the key news stories impacting IMAX this week:

• Positive Sentiment: The Odyssey’s IMAX 70mm engagement has been extended through the end of September, indicating sustained demand for premium-format screenings and potentially supporting IMAX’s box-office revenue. The Odyssey Is Extending Its IMAX 70MM Run Once Again Through the End of September
• Positive Sentiment: Multiple reports say The Odyssey’s ticket sales have surpassed $450 million, and theaters are extending its IMAX 70mm run. The result reinforces the commercial appeal of blockbuster films released in IMAX and could improve near-term exhibitor and technology revenue. The Odyssey extends Imax 70mm run, ticket sales surpass $450 million
• Neutral Sentiment: Coverage of Steph Curry’s basketball project involving 20 IMAX cameras highlights IMAX’s ability to attract sports and event-content partnerships, although the immediate financial impact is unclear. Steph Curry IMAX cameras feature
• Negative Sentiment: Goldman Sachs raised its IMAX price target from $42 to $50 but maintained a Neutral rating. The new target remains about 3.3% below the reported $51.72 share price, suggesting Goldman believes much of the expected upside is already reflected. With IMAX trading at a high earnings multiple, the valuation signal may weigh on the stock despite the target increase.

IMAX Company Profile

IMAX Corporation is a global leader in immersive entertainment technologies, specializing in the design, manufacture and distribution of high-resolution cameras, projectors, and proprietary software solutions that enhance both film production and theatrical exhibition. The company licenses its premium large-format system to theatre owners and filmmakers around the world, enabling audiences to experience movies with greater clarity, scale and sound fidelity. IMAX also offers turnkey theatre development services, assisting cinema operators with auditorium design, installation and custom branding to optimize the customer experience.

Founded in 1967 and headquartered in Mississauga, Ontario, IMAX has built a reputation for pioneering film-format innovations, including its patented dual 15-perforation, 70-millimeter projection system.