Rosenblatt Securities Reaffirms Buy Rating for IMAX (NYSE:IMAX)

IMAX (NYSE:IMAX)‘s stock had its “buy” rating restated by equities research analysts at Rosenblatt Securities in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $65.00 price target on the stock. Rosenblatt Securities’ price target would suggest a potential upside of 26.35% from the stock’s previous close.

A number of other research analysts have also commented on the stock. Wedbush lifted their price objective on shares of IMAX from $46.00 to $54.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. B. Riley Financial upped their price objective on IMAX from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, October 8th. Wells Fargo & Company lifted their target price on IMAX from $41.00 to $45.00 and gave the company an “equal weight” rating in a research note on Friday, July 24th. The Goldman Sachs Group boosted their target price on IMAX from $42.00 to $50.00 and gave the company a “neutral” rating in a report on Friday, September 4th. Finally, Zacks Research upgraded IMAX from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 9th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $57.38.

IMAX Price Performance

Shares of IMAX stock traded down $0.25 during trading hours on Wednesday, hitting $51.44. The stock had a trading volume of 551,645 shares, compared to its average volume of 1,159,433. The firm has a market capitalization of $2.82 billion, a PE ratio of 71.45, a PEG ratio of 1.49 and a beta of 0.49. The stock’s 50 day moving average is $52.42 and its 200 day moving average is $44.06. IMAX has a twelve month low of $31.24 and a twelve month high of $57.73.

IMAX (NYSE:IMAX) last announced its earnings results on Thursday, July 23rd. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.13. The business had revenue of $102.84 million for 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 company’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.26 EPS. As a group, equities analysts predict that IMAX will post 1.65 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Kenneth Weissman sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $54.54, for a total value of $436,320.00. Following the completion of the sale, the insider directly owned 28,205 shares of the company’s stock, valued at $1,538,300.70. This trade represents a 22.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Natasha Fernandes sold 20,000 shares of IMAX stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $54.63, for a total value of $1,092,600.00. Following the completion of the sale, the chief financial officer owned 35,596 shares in the company, valued at approximately $1,944,609.48. This trade represents a 35.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 507,257 shares of company stock valued at $26,673,571 over the last 90 days. 20.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On IMAX

A number of institutional investors and hedge funds have recently made changes to their positions in IMAX. Triumph Capital Management raised its holdings in IMAX by 3.0% during the second quarter. Triumph Capital Management now owns 17,295 shares of the company’s stock worth $689,000 after purchasing an additional 504 shares during the last quarter. State of Wyoming boosted its position in IMAX by 7.6% during the first quarter. State of Wyoming now owns 7,910 shares of the company’s stock worth $301,000 after purchasing an additional 562 shares in the last quarter. Quantinno Capital Management LP grew its holdings in IMAX by 5.4% in the first quarter. Quantinno Capital Management LP now owns 18,844 shares of the company’s stock valued at $716,000 after purchasing an additional 957 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in IMAX by 159.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,006 shares of the company’s stock valued at $111,000 after purchasing an additional 1,849 shares during the last quarter. Finally, Global Retirement Partners LLC purchased a new position in shares of IMAX in the second quarter valued at $85,000. 93.51% of the stock is owned by institutional investors and hedge funds.

IMAX News Summary

Here are the key news stories impacting IMAX this week:

• Positive Sentiment: Wedbush raised its price target to $60 from $54 and reiterated an Outperform rating, citing expectations for record third-quarter global IMAX box office revenue of approximately $712 million—well above its prior $401 million forecast. IMAX box office surge drives Wedbush target hike
• Positive Sentiment: Wedbush described IMAX’s third-quarter performance as a “victory” lap but said the company has additional growth ahead, reinforcing the view that strong film attendance and premium-format demand can continue supporting results. IMAX Has More to Come After Q3 Victory Lap, Wedbush Says
• Positive Sentiment: Rosenblatt reaffirmed its Buy rating and maintained a $65 price target, while coverage of the upcoming Hunger Games release highlights continued use of IMAX-specific marketing and theatrical strategies that could boost premium-screen attendance. New Hunger Games Movie Is Repeating Catching Fire’s Imax Trick Again
• Positive Sentiment: Zacks expects earnings growth and identifies factors that could support an earnings beat, including favorable estimates and recent business momentum. The company is expected to report quarterly results on Thursday. Imax Earnings Expected to Grow
• Neutral Sentiment: Upcoming IMAX releases, including a new Narnia trailer debuting in the format, provide additional visibility for the company’s content pipeline but are not yet evidence of realized revenue. Greta Gerwig Debuts Narnia Trailer in IMAX
• Negative Sentiment: IMAX’s shares have already performed strongly relative to their 52-week low, and the stock trades at a high earnings multiple. That leaves the shares sensitive to any earnings miss, cautious guidance, or signs that the recent box-office surge is difficult to sustain.

IMAX Company Profile

IMAX Corporation (NYSE: IMAX) is an entertainment technology company that develops and licenses premium-format motion picture systems for cinemas and other venues. Its offerings combine specialized projection and display technology, immersive sound systems, theater design, and large-format screens to provide audiences with an enhanced presentation experience.

The company supports the theatrical release of films through its IMAX DMR (Digital Media Remastering) process, which adapts and optimizes content for IMAX presentations.