Macquarie Issues Positive Forecast for IMAX (NYSE:IMAX) Stock Price

IMAX (NYSE:IMAX) had its price objective increased by Macquarie from $28.00 to $30.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Benchmark reiterated a “buy” rating and set a $30.00 target price on shares of IMAX in a research note on Thursday. Wedbush reissued an “outperform” rating and set a $32.00 price target on shares of IMAX in a report on Thursday. Roth Mkm increased their price target on shares of IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. StockNews.com cut shares of IMAX from a “buy” rating to a “hold” rating in a report on Thursday, February 13th. Finally, Barrington Research increased their price target on shares of IMAX from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $30.67.

IMAX Stock Performance

Shares of IMAX opened at $26.03 on Thursday. IMAX has a fifty-two week low of $14.94 and a fifty-two week high of $27.77. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 53.11, a price-to-earnings-growth ratio of 1.49 and a beta of 1.22. The firm has a 50-day simple moving average of $24.65 and a 200-day simple moving average of $23.01.

IMAX (NYSE:IMAX) last announced its earnings results on Wednesday, February 19th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.14). IMAX had a return on equity of 8.60% and a net margin of 7.40%. The business had revenue of $92.67 million for the quarter, compared to analyst estimates of $104.08 million. Equities research analysts forecast that IMAX will post 0.91 EPS for the current year.

Insider Buying and Selling at IMAX

In related news, insider Kenneth Ian Weissman sold 6,309 shares of IMAX stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $25.51, for a total transaction of $160,942.59. Following the completion of the transaction, the insider now directly owns 25,139 shares in the company, valued at $641,295.89. The trade was a 20.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Robert D. Lister sold 55,910 shares of IMAX stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $25.50, for a total value 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. This represents a 28.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 65,176 shares of company stock valued at $1,662,110. Corporate insiders own 24.08% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Blue Trust Inc. raised its position in shares of IMAX by 138.5% during the 4th quarter. Blue Trust Inc. now owns 966 shares of the company’s stock worth $25,000 after purchasing an additional 561 shares during the last quarter. Huntington National Bank purchased a new stake in IMAX in the 3rd quarter worth approximately $34,000. Quarry LP grew its stake in IMAX by 78,333.3% in the 3rd quarter. Quarry LP now owns 2,353 shares of the company’s stock worth $48,000 after acquiring an additional 2,350 shares during the period. US Bancorp DE grew its stake in IMAX by 23.4% in the 3rd quarter. US Bancorp DE now owns 7,656 shares of the company’s stock worth $157,000 after acquiring an additional 1,452 shares during the period. Finally, Tower Research Capital LLC TRC grew its stake in IMAX by 415.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,236 shares of the company’s stock worth $185,000 after acquiring an additional 5,832 shares during the period. 93.51% of the stock is currently owned by institutional investors and hedge funds.

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.