B. Riley Initiates Coverage on IMAX (NYSE:IMAX)

Stock analysts at B. Riley began coverage on shares of IMAX (NYSE:IMAX) in a research note issued to investors on Friday. The firm set a “buy” rating and a $36.00 price target on the stock. B. Riley’s price target would indicate a potential upside of 32.38% from the company’s current price.

Several other brokerages also recently commented on IMAX. Barrington Research restated an “outperform” rating and issued a $32.00 price objective on shares of IMAX in a research report on Thursday, April 24th. Benchmark restated a “buy” rating and issued a $30.00 price objective on shares of IMAX in a research report on Thursday, April 10th. StockNews.com downgraded IMAX from a “buy” rating to a “hold” rating in a research report on Thursday, May 8th. Wedbush restated an “outperform” rating and issued a $32.00 price objective on shares of IMAX in a research report on Thursday, April 17th. Finally, Wells Fargo & Company lowered their price objective on IMAX from $32.00 to $30.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $31.22.

IMAX Stock Performance

Shares of IMAX stock opened at $27.20 on Friday. IMAX has a one year low of $14.94 and a one year high of $27.77. The stock’s fifty day moving average is $24.66 and its 200 day moving average is $24.82. The stock has a market cap of $1.46 billion, a P/E ratio of 55.50, a P/E/G ratio of 1.49 and a beta of 0.79.

IMAX (NYSE:IMAX) last announced its earnings results on Wednesday, April 23rd. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. IMAX had a return on equity of 8.60% and a net margin of 7.40%. The company had revenue of $86.67 million for the quarter, compared to analysts’ expectations of $82.95 million. During the same period last year, the firm earned $0.15 EPS. IMAX’s revenue for the quarter was up 9.6% compared to the same quarter last year. Analysts predict that IMAX will post 0.91 EPS for the current year.

Institutional Investors Weigh In On IMAX

Several large investors have recently added to or reduced their stakes in IMAX. Blue Trust Inc. increased its stake in IMAX by 138.5% during the fourth quarter. Blue Trust Inc. now owns 966 shares of the company’s stock worth $25,000 after acquiring an additional 561 shares during the last quarter. Creative Financial Designs Inc. ADV bought a new stake in IMAX during the first quarter worth approximately $59,000. Tower Research Capital LLC TRC increased its stake in IMAX by 415.4% during the fourth 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 last quarter. Y Intercept Hong Kong Ltd bought a new stake in IMAX during the first quarter worth approximately $202,000. Finally, Wealthfront Advisers LLC bought a new stake in IMAX during the fourth quarter worth approximately $217,000. 93.51% of the stock is owned by institutional investors.

IMAX Company Profile

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.