Barrington Research Issues Positive Forecast for IMAX (NYSE:IMAX) Stock Price

by · The Markets Daily

IMAX (NYSE:IMAX – Get Free Report) had its price objective lifted by equities research analysts at Barrington Research from $37.00 to $42.00 in a report released on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Barrington Research’s price target would indicate a potential upside of 17.76% from the company’s previous close.

A number of other research analysts have also weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of IMAX from $31.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, October 24th. Wells Fargo & Company increased their price target on shares of IMAX from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, October 24th. The Goldman Sachs Group raised IMAX from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $22.00 to $34.00 in a research note on Tuesday, November 25th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of IMAX in a research note on Monday, December 1st. Finally, Roth Capital lifted their target price on IMAX from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, October 14th. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.40.

Check Out Our Latest Stock Analysis on IMAX

IMAX Price Performance

IMAX stock opened at $35.67 on Monday. The firm’s 50 day moving average price is $33.81 and its 200-day moving average price is $30.11. IMAX has a 1 year low of $20.48 and a 1 year high of $37.78. The stock has a market cap of $1.92 billion, a P/E ratio of 50.24, a PEG ratio of 2.19 and a beta of 0.41.

IMAX (NYSE:IMAX – Get Free Report) last announced its quarterly earnings results on Thursday, October 23rd. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.16. The company had revenue of $106.65 million for the quarter, compared to the consensus estimate of $102.88 million. IMAX had a net margin of 10.47% and a return on equity of 9.91%. IMAX’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.35 EPS. As a group, equities analysts expect that IMAX will post 0.91 EPS 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 transaction of $211,939.00. Following the completion of the sale, the executive vice president directly owned 33,000 shares of the company’s stock, valued at approximately $1,130,250. The trade was a 15.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert D. Lister sold 50,143 shares of IMAX stock in a transaction dated Friday, November 7th. The shares were 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. The trade was a 23.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 76,331 shares of company stock valued at $2,606,397. Corporate insiders own 24.08% of the company’s stock.

Institutional Investors Weigh In On IMAX

Institutional investors and hedge funds have recently bought and sold shares of the company. TD Waterhouse Canada Inc. lifted 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 buying an additional 500 shares during the period. CIBC Private Wealth Group LLC purchased a new position in shares of IMAX during the third quarter valued at $27,000. First Horizon Corp bought a new stake in shares of IMAX in the third quarter valued at about $34,000. Jones Financial Companies Lllp lifted 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 acquiring an additional 317 shares during the period. Finally, Clearstead Advisors LLC bought a new position in IMAX during the 3rd quarter worth about $35,000. 93.51% of the stock is owned by institutional investors.

About IMAX

(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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