Brokerages Set IMAX Co. (NYSE:IMAX) Target Price at $20.57

IMAX Co. (NYSE:IMAX) has received an average rating of “Moderate Buy” from the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $20.57.

Several equities analysts have commented on the stock. Barrington Research reiterated an “outperform” rating and set a $24.00 price objective on shares of IMAX in a research report on Monday, April 22nd. The Goldman Sachs Group lowered their price objective on shares of IMAX from $15.00 to $13.00 and set a “sell” rating for the company in a research report on Thursday, January 11th. Wedbush reiterated an “outperform” rating and set a $22.00 price objective on shares of IMAX in a research report on Friday, April 26th. Benchmark reiterated a “buy” rating and set a $22.00 price objective on shares of IMAX in a research report on Friday, April 26th. Finally, Rosenblatt Securities lowered their price objective on shares of IMAX from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, February 13th.

IMAX Stock Performance

IMAX opened at $16.60 on Friday. The stock has a market capitalization of $873.23 million, a price-to-earnings ratio of 34.57, a PEG ratio of 1.38 and a beta of 1.22. The company has a fifty day moving average of $16.56 and a 200 day moving average of $15.98. IMAX has a fifty-two week low of $13.20 and a fifty-two week high of $20.70.

IMAX (NYSE:IMAX) last posted its earnings results on Thursday, April 25th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.05. The company had revenue of $79.12 million during the quarter, compared to analysts’ expectations of $77.88 million. IMAX had a net margin of 7.13% and a return on equity of 9.47%. On average, equities research analysts forecast that IMAX will post 0.61 earnings per share for the current year.

Insider Transactions at IMAX

In other news, EVP Calamera Pablo sold 6,130 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $17.05, for a total value of $104,516.50. Following the completion of the sale, the executive vice president now owns 42,269 shares in the company, valued at approximately $720,686.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Robert D. Lister sold 25,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $16.87, for a total value of $421,750.00. Following the transaction, the vice president now owns 138,889 shares of the company’s stock, valued at approximately $2,343,057.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Calamera Pablo sold 6,130 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $17.05, for a total transaction of $104,516.50. Following the completion of the transaction, the executive vice president now directly owns 42,269 shares in the company, valued at approximately $720,686.45. The disclosure for this sale can be found here. Company insiders own 24.33% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in IMAX. SG Americas Securities LLC purchased a new position in IMAX in the 3rd quarter worth about $139,000. Raymond James Financial Services Advisors Inc. increased its position in IMAX by 86.5% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 24,824 shares of the company’s stock valued at $480,000 after purchasing an additional 11,516 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in IMAX by 41.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,531 shares of the company’s stock valued at $242,000 after purchasing an additional 3,682 shares during the period. Knights of Columbus Asset Advisors LLC increased its position in IMAX by 9.7% during 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 purchasing an additional 20,132 shares during the period. Finally, Arizona State Retirement System increased its position in 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 purchasing an additional 1,085 shares during the period. Hedge funds and other institutional investors 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.