Analysts Set IMAX Corporation (NYSE:IMAX) Target Price at $34.70

IMAX Corporation (NYSE:IMAXGet Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the twelve analysts that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $35.10.

Several research firms recently commented on IMAX. Rosenblatt Securities raised their price target on shares of IMAX from $37.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. B. Riley reaffirmed a “buy” rating on shares of IMAX in a research report on Friday, October 10th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of IMAX in a research note on Wednesday, October 8th. Roth Capital increased their price objective on IMAX from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Wedbush lifted their target price on IMAX from $35.00 to $39.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd.

Check Out Our Latest Research Report on IMAX

IMAX Stock Performance

Shares of NYSE IMAX opened at $32.22 on Friday. IMAX has a fifty-two week low of $19.91 and a fifty-two week high of $34.14. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 53.71, a PEG ratio of 2.03 and a beta of 0.62. The business’s 50 day moving average price is $30.23 and its 200-day moving average price is $27.56.

IMAX (NYSE:IMAXGet Free Report) last posted its quarterly earnings data on Thursday, July 24th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.07. IMAX had a return on equity of 8.62% and a net margin of 9.04%.The company had revenue of $91.68 million during the quarter, compared to analysts’ expectations of $93.04 million. During the same quarter in the previous year, the business earned $0.18 EPS. IMAX’s revenue was up 3.1% compared to the same quarter last year. Sell-side analysts predict that IMAX will post 0.91 earnings per share for the current year.

Insider Activity

In other news, VP Robert D. Lister sold 20,000 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $32.80, for a total transaction of $656,000.00. Following the transaction, the vice president directly owned 161,421 shares in the company, valued at approximately $5,294,608.80. This trade represents a 11.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kenneth Ian Weissman sold 15,072 shares of IMAX stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $25.65, for a total transaction of $386,596.80. Following the transaction, the insider directly owned 26,133 shares in the company, valued at approximately $670,311.45. The trade was a 36.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. 23.18% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On IMAX

Hedge funds have recently made changes to their positions in the stock. Orbis Allan Gray Ltd lifted its position in shares of IMAX by 31.7% during the second quarter. Orbis Allan Gray Ltd now owns 5,113,033 shares of the company’s stock valued at $142,960,000 after buying an additional 1,230,267 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of IMAX by 2,496.9% during the first quarter. Jane Street Group LLC now owns 573,919 shares of the company’s stock valued at $15,123,000 after buying an additional 551,819 shares during the last quarter. Balyasny Asset Management L.P. acquired a new position in shares of IMAX in the second quarter valued at about $12,568,000. Driehaus Capital Management LLC acquired a new position in IMAX in the 1st quarter worth approximately $11,181,000. Finally, Jupiter Asset Management Ltd. raised its holdings in shares of IMAX by 805.9% during the first quarter. Jupiter Asset Management Ltd. now owns 469,504 shares of the company’s stock worth $12,371,000 after purchasing an additional 417,677 shares during the last quarter. 93.51% of the stock is currently owned by hedge funds and other institutional investors.

IMAX Company Profile

(Get Free Report)

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.

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Analyst Recommendations for IMAX (NYSE:IMAX)

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