IMAX (NYSE:IMAX) Earns Outperform Rating from Wedbush

Wedbush reaffirmed their outperform rating on shares of IMAX (NYSE:IMAX) in a research report report published on Friday morning, Benzinga reports. They currently have a $22.00 price target on the stock.

A number of other research analysts have also recently issued reports on the company. JPMorgan Chase & Co. decreased their target price on IMAX from $20.00 to $17.00 and set a neutral rating for the company in a research note on Tuesday, February 6th. Rosenblatt Securities decreased their price objective on IMAX from $30.00 to $25.00 and set a buy rating for the company in a research report on Tuesday, February 13th. Barrington Research restated an outperform rating and set a $24.00 target price on shares of IMAX in a report on Monday, April 22nd. The Goldman Sachs Group reduced their price target on shares of IMAX from $15.00 to $13.00 and set a sell rating for the company in a report on Thursday, January 11th. Finally, Benchmark reissued a buy rating and set a $22.00 price objective on shares of IMAX in a research report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $20.57.

IMAX Price Performance

Shares of NYSE:IMAX opened at $17.09 on Friday. The company has a market capitalization of $904.67 million, a price-to-earnings ratio of 35.59, a P/E/G ratio of 1.50 and a beta of 1.25. The firm’s 50 day simple moving average is $16.45 and its 200 day simple moving average is $16.04. IMAX has a fifty-two week low of $13.20 and a fifty-two week high of $21.45.

IMAX (NYSE:IMAX) last posted its earnings results on Thursday, April 25th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.05. IMAX had a net margin of 7.13% and a return on equity of 9.47%. The company had revenue of $79.12 million for the quarter, compared to analyst estimates of $77.88 million. Equities research analysts expect that IMAX will post 0.57 earnings per share for the current year.

Insider Activity

In related news, VP Robert D. Lister sold 25,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $16.87, for a total value of $421,750.00. Following the completion of the transaction, the vice president now owns 138,889 shares of the company’s stock, valued at $2,343,057.43. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other IMAX news, VP Robert D. Lister sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $16.87, for a total transaction 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 can be accessed through the SEC website. Also, EVP Calamera Pablo sold 6,130 shares of the stock in a transaction that occurred on 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 directly owns 42,269 shares of the company’s stock, valued at approximately $720,686.45. The disclosure for this sale can be found here. 24.33% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. bought a new stake in shares of IMAX in the 4th quarter valued at about $33,000. Tower Research Capital LLC TRC increased its position in IMAX by 545.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the company’s stock worth $75,000 after buying an additional 4,218 shares during the last quarter. Partnership Wealth Management LLC bought a new stake in IMAX in the fourth quarter valued at approximately $111,000. SG Americas Securities LLC acquired a new stake in shares of IMAX in the third quarter valued at approximately $139,000. Finally, C M Bidwell & Associates Ltd. bought a new position in shares of IMAX during the 3rd quarter worth approximately $160,000. Institutional investors own 93.51% of the company’s stock.

About IMAX

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.