IMAX (NYSE:IMAX) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of IMAX (NYSE:IMAX) from a hold rating to a buy rating in a report issued on Saturday,Wall Street Zen reports.

IMAX has been the topic of several other reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $60.00 price target on shares of IMAX in a research report on Friday, May 22nd. The Goldman Sachs Group boosted their price objective on IMAX from $42.00 to $50.00 and gave the company a “neutral” rating in a report on Friday. Wedbush upped their target price on IMAX from $46.00 to $54.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Seaport Research Partners reaffirmed a “buy” rating and set a $50.00 target price on shares of IMAX in a report on Wednesday, June 24th. Finally, Benchmark reiterated a “buy” rating on shares of IMAX in a research report on Monday, June 22nd. Ten equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $54.00.

IMAX Price Performance

IMAX stock opened at $51.72 on Friday. The firm’s fifty day simple moving average is $46.36 and its 200-day simple moving average is $41.27. The company has a market capitalization of $2.84 billion, a P/E ratio of 71.83, a price-to-earnings-growth ratio of 1.65 and a beta of 0.40. IMAX has a 12 month low of $28.93 and a 12 month high of $55.57.

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

Insider Transactions at IMAX

In related news, CFO Natasha Fernandes sold 20,000 shares of IMAX stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $54.63, for a total value of $1,092,600.00. Following the completion of the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard L. Gelfond sold 100,000 shares of the company’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $53.23, for a total value of $5,323,000.00. Following the completion of the transaction, the chief executive officer directly owned 665,002 shares of the company’s stock, valued at $35,398,056.46. The trade was a 13.07% decrease in their position. The SEC filing for this sale provides additional information. 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 valued at $25,513,021 in the last ninety days. 20.55% of the stock is currently owned by corporate insiders.

Institutional Trading of IMAX

A number of institutional investors and hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System lifted its position in shares of IMAX by 3,785.1% during the 2nd quarter. California State Teachers Retirement System now owns 2,104,728 shares of the company’s stock valued at $83,894,000 after buying an additional 2,050,554 shares in the last quarter. Nykredit A S acquired a new stake in IMAX in the 2nd quarter valued at $105,000. Triumph Capital Management increased its holdings in IMAX by 3.0% in the 2nd quarter. Triumph Capital Management now owns 17,295 shares of the company’s stock worth $689,000 after acquiring an additional 504 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in IMAX in the 2nd quarter worth $380,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in IMAX by 5,002.8% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 140,838 shares of the company’s stock worth $5,614,000 after acquiring an additional 138,078 shares during the period. 93.51% of the stock is currently owned by hedge funds and other institutional investors.

More IMAX News

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.

About IMAX

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.