IMAX Corporation (NYSE:IMAX) Stock Has Average Target Price of $55.17 According to Analysts

Shares of IMAX Corporation (NYSE:IMAX) have earned an average recommendation of “Moderate Buy” from the fourteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $55.17.

A number of analysts have commented on IMAX shares. Roth Capital upped their price target on shares of IMAX from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd. Seaport Research Partners reissued a “buy” rating and issued a $50.00 price objective on shares of IMAX in a research report on Wednesday, June 24th. Wedbush upped their target price on IMAX from $46.00 to $54.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. B. Riley Financial upped their target price on IMAX from $52.00 to $61.00 and gave the company a “buy” rating in a research report on Monday, August 24th. Finally, Wells Fargo & Company raised their target price on IMAX from $41.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Friday, July 24th.

Insiders Place Their Bets

In other news, CFO Natasha Fernandes sold 20,000 shares of IMAX stock in a transaction on Monday, August 24th. The shares were sold at an average price of $54.63, for a total value of $1,092,600.00. Following the completion of the sale, the chief financial officer owned 35,596 shares in the company, valued at $1,944,609.48. The trade was a 35.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Richard L. Gelfond sold 205,504 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $53.27, for a total transaction of $10,947,198.08. Following the transaction, the chief executive officer owned 765,002 shares in the company, valued at $40,751,656.54. The trade was a 21.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 507,257 shares of company stock valued at $26,673,571 over the last 90 days. 20.55% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. HBK Investments L P acquired a new position in shares of IMAX during the second quarter valued at about $8,058,000. Engineers Gate Manager LP grew its stake in shares of IMAX by 227.7% in the 2nd quarter. Engineers Gate Manager LP now owns 29,205 shares of the company’s stock valued at $1,164,000 after buying an additional 20,293 shares during the period. Nykredit A S acquired a new stake in shares of IMAX in the 2nd quarter valued at about $105,000. Triumph Capital Management increased its position in IMAX by 3.0% in the 2nd quarter. Triumph Capital Management now owns 17,295 shares of the company’s stock valued at $689,000 after buying an additional 504 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in IMAX in the 2nd quarter valued at about $380,000. 93.51% of the stock is owned by institutional investors.

IMAX Stock Performance

IMAX stock opened at $52.78 on Friday. The firm has a market cap of $2.89 billion, a price-to-earnings ratio of 73.31, a PEG ratio of 1.65 and a beta of 0.49. IMAX has a 52-week low of $30.74 and a 52-week high of $57.73. The firm has a 50 day moving average price of $51.97 and a two-hundred day moving average price of $43.26.

IMAX (NYSE:IMAX) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.13. IMAX had a net margin of 9.84% and a return on equity of 15.47%. The company had revenue of $102.84 million for the quarter, compared to analyst estimates of $96.09 million. During the same period in the prior year, the firm posted $0.26 EPS. The company’s quarterly revenue was up 12.2% on a year-over-year basis. As a group, equities research analysts predict that IMAX will post 1.52 EPS for the current fiscal year.

IMAX Company Profile

IMAX Corporation (NYSE: IMAX) is an entertainment technology company that develops and licenses premium-format motion picture systems for cinemas and other venues. Its offerings combine specialized projection and display technology, immersive sound systems, theater design, and large-format screens to provide audiences with an enhanced presentation experience.

The company supports the theatrical release of films through its IMAX DMR (Digital Media Remastering) process, which adapts and optimizes content for IMAX presentations.