IMAX (NYSE:IMAX) Earns “Buy” Rating from Rosenblatt Securities

IMAX (NYSE:IMAX)‘s stock had its “buy” rating reiterated by investment analysts at Rosenblatt Securities in a report released on Wednesday, Benzinga reports. They currently have a $65.00 target price on the stock. Rosenblatt Securities’ price target indicates a potential upside of 25.83% from the company’s previous close.

Several other equities analysts have also commented on the company. Benchmark reissued a “buy” rating on shares of IMAX in a research report on Monday, June 22nd. Wedbush upped their target price on shares of IMAX from $46.00 to $54.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Wall Street Zen upgraded shares of IMAX from a “hold” rating to a “buy” rating in a research note on Saturday. Zacks Research raised shares of IMAX from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 9th. Finally, HC Wainwright restated a “buy” rating on shares of IMAX in a report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, IMAX currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.62.

IMAX Trading Down 0.0%

Shares of IMAX stock traded down $0.01 during midday trading on Wednesday, reaching $51.66. 915,161 shares of the stock were exchanged, compared to its average volume of 1,162,518. IMAX has a 1 year low of $31.24 and a 1 year high of $57.73. The firm has a market cap of $2.83 billion, a PE ratio of 71.74, a price-to-earnings-growth ratio of 1.52 and a beta of 0.49. The company’s 50 day moving average is $52.40 and its two-hundred day moving average is $43.96.

IMAX (NYSE:IMAX) last released 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 company had revenue of $102.84 million during the quarter, compared to analysts’ expectations of $96.09 million. IMAX had a return on equity of 15.47% and a net margin of 9.84%. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.26 EPS. As a group, equities analysts expect that IMAX will post 1.62 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Kenneth Weissman sold 8,000 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $54.54, for a total value of $436,320.00. Following the transaction, the insider owned 28,205 shares in the company, valued at $1,538,300.70. The trade was a 22.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Richard L. Gelfond sold 205,504 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $53.27, for a total transaction of $10,947,198.08. Following the sale, the chief executive officer directly owned 765,002 shares in the company, valued at $40,751,656.54. This trade represents a 21.17% decrease in their ownership of the stock. 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 507,257 shares of company stock valued at $26,673,571 over the last ninety days. Insiders own 20.55% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of IMAX. BlackRock Inc. bought a new stake in shares of IMAX during the second quarter valued at approximately $115,881,000. Dimensional Fund Advisors LP raised its holdings in IMAX by 1.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,237,230 shares of the company’s stock worth $47,026,000 after acquiring an additional 23,401 shares during the last quarter. Wellington Management Group LLP lifted its position in IMAX by 51.8% in the 2nd quarter. Wellington Management Group LLP now owns 800,193 shares of the company’s stock valued at $31,896,000 after acquiring an additional 273,122 shares in the last quarter. Nantahala Capital Management LLC bought a new position in IMAX in the 2nd quarter valued at approximately $26,228,239. Finally, Bank of America Corp DE purchased a new stake in IMAX during the 2nd quarter valued at $17,420,000. 93.51% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting IMAX

Here are the key news stories impacting IMAX this week:

• Positive Sentiment: Wedbush raised its price target to $60 from $54 and maintained an Outperform rating. The firm expects IMAX to report record third-quarter results, with global IMAX-screen box office estimated at approximately $712 million—well above its previous $401 million forecast. Wedbush said the strong performance suggests additional upside catalysts remain ahead. IMAX box office surge drives Wedbush target hike
• Positive Sentiment: Rosenblatt Securities reaffirmed its Buy rating and kept a $65 price target, implying substantial potential upside based on the referenced share price. The bullish target reflects confidence in IMAX’s earnings growth and premium-format demand.
• Positive Sentiment: Upcoming high-profile film releases could support attendance and premium-format revenue. Greta Gerwig’s Narnia trailer debuted in IMAX, while coverage of the upcoming Street Fighter film highlighted reasons audiences may prefer the IMAX experience. Greta Gerwig Debuts Narnia Trailer in IMAX on Tuesday Street Fighter’s Noah Centineo Reveals Surprising Reason Fans Will Want to See Movie in IMAX
• Neutral Sentiment: IMAX’s theater network continues to expand. Houston’s first dine-in IMAX screen is scheduled to open at a Cypress theater in November, modestly increasing the company’s future screen footprint. Houston’s first dine-in IMAX screen coming to Cypress theater in November
• Negative Sentiment: IMAX underperformed some broader cinema-stock gains in recent trading, as AMC and Cinemark rallied on industry-specific developments. This relative weakness suggests investors may already have priced in part of IMAX’s strong box-office outlook.

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.