Barrington Research Reiterates “Outperform” Rating for IMAX (NYSE:IMAX)

IMAX (NYSE:IMAX)‘s stock had its “outperform” rating restated by investment analysts at Barrington Research in a research note issued on Monday, Benzinga reports. They presently have a $24.00 target price on the stock. Barrington Research’s price target indicates a potential upside of 37.61% from the company’s current price.

A number of other research analysts have also recently weighed in on IMAX. StockNews.com cut IMAX from a “buy” rating to a “hold” rating in a research report on Saturday, January 27th. B. Riley reduced their price target on shares of IMAX from $27.00 to $21.00 and set a “buy” rating on the stock in a report on Tuesday, January 2nd. The Goldman Sachs Group dropped their price objective on shares of IMAX from $15.00 to $13.00 and set a “sell” rating for the company in a research note on Thursday, January 11th. Benchmark restated a “buy” rating and set a $22.00 price objective on shares of IMAX in a research report on Tuesday, April 16th. Finally, Rosenblatt Securities lowered their target price on IMAX from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.57.

IMAX Stock Performance

IMAX stock opened at $17.44 on Monday. The company has a market cap of $923.45 million, a P/E ratio of 37.91, a price-to-earnings-growth ratio of 1.52 and a beta of 1.25. IMAX has a one year low of $13.20 and a one year high of $21.82. The business has a fifty day moving average of $16.25 and a two-hundred day moving average of $16.08.

IMAX (NYSE:IMAX) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.12. IMAX had a net margin of 6.76% and a return on equity of 9.59%. The firm had revenue of $86.02 million for the quarter, compared to the consensus estimate of $85.83 million. During the same quarter in the previous year, the firm earned $0.05 earnings per share. The firm’s revenue was down 12.3% on a year-over-year basis. Sell-side analysts predict that IMAX will post 0.56 EPS for the current year.

Insider Activity

In other news, VP Robert D. Lister sold 25,000 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $16.87, for a total transaction of $421,750.00. Following the transaction, the vice president now directly owns 138,889 shares in the company, valued at approximately $2,343,057.43. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 24.33% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in shares of IMAX in the 3rd quarter valued at about $139,000. Raymond James Financial Services Advisors Inc. increased its position in shares of IMAX by 86.5% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 24,824 shares of the company’s stock worth $480,000 after acquiring an additional 11,516 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of IMAX by 41.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,531 shares of the company’s stock worth $242,000 after acquiring an additional 3,682 shares in the last quarter. Knights of Columbus Asset Advisors LLC raised its stake in shares of IMAX by 9.7% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 227,058 shares of the company’s stock valued at $4,387,000 after acquiring an additional 20,132 shares during the period. Finally, Arizona State Retirement System lifted its holdings in shares of IMAX by 8.9% during the 3rd quarter. Arizona State Retirement System now owns 13,212 shares of the company’s stock valued at $255,000 after acquiring an additional 1,085 shares in the last quarter. Institutional investors and hedge funds own 93.51% of the company’s stock.

IMAX Company Profile

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.