IMAX (NYSE:IMAX) Receives “Buy” Rating from Benchmark

Benchmark reissued their buy rating on shares of IMAX (NYSE:IMAX) in a research note released on Tuesday, Benzinga reports. The brokerage currently has a $22.00 price target on the stock.

IMAX has been the subject of a number of other research reports. StockNews.com downgraded shares of IMAX from a buy rating to a hold rating in a research report on Saturday, January 27th. JPMorgan Chase & Co. decreased their price objective on shares of IMAX from $20.00 to $17.00 and set a neutral rating for the company in a research report on Tuesday, February 6th. Barrington Research restated an outperform rating and set a $24.00 price target on shares of IMAX in a research report on Wednesday, February 28th. Rosenblatt Securities reduced their price target on shares of IMAX from $30.00 to $25.00 and set a buy rating for the company in a research report on Tuesday, February 13th. Finally, B. Riley reduced their price target on shares of IMAX from $27.00 to $21.00 and set a buy rating for the company in a research report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, IMAX presently has an average rating of Moderate Buy and an average target price of $20.57.

IMAX Stock Performance

Shares of IMAX stock opened at $17.10 on Tuesday. The firm has a 50-day simple moving average of $16.07 and a two-hundred day simple moving average of $16.16. The company has a market cap of $905.45 million, a P/E ratio of 37.17, a price-to-earnings-growth ratio of 1.52 and a beta of 1.25. IMAX has a fifty-two week low of $13.20 and a fifty-two week high of $21.82.

IMAX (NYSE:IMAX) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.12. The business had revenue of $86.02 million during the quarter, compared to the consensus estimate of $85.83 million. IMAX had a net margin of 6.76% and a return on equity of 9.59%. The company’s revenue was down 12.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.05 earnings per share. Equities research analysts forecast that IMAX will post 0.55 EPS for the current year.

Insider Activity

In other news, VP Robert D. Lister sold 25,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $16.87, for a total value of $421,750.00. Following the completion of the sale, the vice president now owns 138,889 shares of the company’s stock, valued at approximately $2,343,057.43. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 24.33% of the company’s stock.

Institutional Trading of IMAX

Hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. purchased a new position in shares of IMAX during the 4th quarter worth approximately $33,000. Tower Research Capital LLC TRC boosted its position in shares of IMAX by 164.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,260 shares of the company’s stock worth $46,000 after purchasing an additional 2,029 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of IMAX during the 4th quarter worth approximately $65,000. Tower Research Capital LLC TRC boosted its position in shares of IMAX by 545.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the company’s stock worth $75,000 after purchasing an additional 4,218 shares during the period. Finally, Partnership Wealth Management LLC purchased a new position in shares of IMAX during the 4th quarter worth approximately $111,000. Hedge funds and other institutional investors own 93.51% of the company’s stock.

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.