IMAX (NYSE:IMAX) Price Target Raised to $47.00

by · The Markets Daily

IMAX (NYSE:IMAX – Free Report) had its target price lifted by Rosenblatt Securities from $42.00 to $47.00 in a research note published on Monday morning,Benzinga reports. Rosenblatt Securities currently has a buy rating on the stock.

A number of other brokerages have also commented on IMAX. The Goldman Sachs Group raised IMAX from a “sell” rating to a “neutral” rating and increased their price objective for the company from $22.00 to $34.00 in a report on Tuesday, November 25th. B. Riley reiterated a “buy” rating on shares of IMAX in a report on Friday, October 10th. Wedbush boosted their price objective on shares of IMAX from $35.00 to $39.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Wall Street Zen upgraded shares of IMAX from a “buy” rating to a “strong-buy” rating in a research note on Sunday, November 30th. Finally, Barrington Research lifted their target price on shares of IMAX from $37.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $39.30.

Read Our Latest Report on IMAX

IMAX Trading Up 0.3%

IMAX stock opened at $38.15 on Monday. IMAX has a 1-year low of $20.48 and a 1-year high of $38.89. The firm’s fifty day simple moving average is $34.14 and its 200-day simple moving average is $30.33. The company has a market capitalization of $2.05 billion, a P/E ratio of 53.74, a P/E/G ratio of 2.32 and a beta of 0.41.

IMAX (NYSE:IMAX – Get Free Report) last issued its quarterly earnings data on Thursday, October 23rd. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.16. IMAX had a net margin of 10.47% and a return on equity of 9.91%. The firm had revenue of $106.65 million during the quarter, compared to analysts’ expectations of $102.88 million. During the same period in the prior year, the company posted $0.35 earnings per share. IMAX’s revenue for the quarter was up 16.6% on a year-over-year basis. On average, equities research analysts predict that IMAX will post 0.91 earnings per share for the current year.

Insider Buying and Selling at IMAX

In other news, EVP Giovanni M. Dolci sold 6,188 shares of the business’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $34.25, for a total value of $211,939.00. Following the sale, the executive vice president owned 33,000 shares in the company, valued at approximately $1,130,250. The trade was a 15.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Robert D. Lister sold 50,143 shares of the stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $34.67, for a total transaction of $1,738,457.81. Following the sale, the vice president owned 161,421 shares of the company’s stock, valued at $5,596,466.07. This trade represents a 23.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 76,331 shares of company stock worth $2,606,397 in the last 90 days. 23.18% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. TD Waterhouse Canada Inc. boosted its holdings in shares of IMAX by 125.0% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 900 shares of the company’s stock worth $25,000 after acquiring an additional 500 shares in the last quarter. CIBC Private Wealth Group LLC bought a new position in IMAX in the 3rd quarter valued at $27,000. First Horizon Corp bought a new position in IMAX in the 3rd quarter valued at $34,000. Jones Financial Companies Lllp boosted its stake in IMAX by 43.8% in the third quarter. Jones Financial Companies Lllp now owns 1,041 shares of the company’s stock worth $34,000 after purchasing an additional 317 shares in the last quarter. Finally, Clearstead Advisors LLC bought a new stake in shares of IMAX during the third quarter worth $35,000. Institutional investors own 93.51% of the company’s stock.

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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