IMAX’s (IMAX) “Outperform” Rating Reaffirmed at Barrington Research

Barrington Research reiterated their outperform rating on shares of IMAX (NYSE:IMAX) in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a $37.00 price target on the stock.

A number of other equities analysts also recently issued reports on IMAX. JPMorgan Chase & Co. increased their price objective on IMAX from $28.00 to $31.00 and gave the stock a “neutral” rating in a report on Thursday, October 9th. Roth Capital increased their price objective on IMAX from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, October 14th. Benchmark increased their price objective on IMAX from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Wells Fargo & Company increased their price objective on IMAX from $30.00 to $34.00 and gave the stock an “overweight” rating in a report on Friday, July 25th. Finally, Wall Street Zen raised IMAX from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 11th. Nine research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $35.10.

IMAX Trading Up 0.8%

IMAX opened at $32.33 on Thursday. The stock has a fifty day simple moving average of $30.76 and a two-hundred day simple moving average of $27.75. The company has a market cap of $1.74 billion, a price-to-earnings ratio of 53.89, a price-to-earnings-growth ratio of 2.05 and a beta of 0.62. IMAX has a 12-month low of $19.91 and a 12-month high of $34.14.

IMAX (NYSE:IMAX) last posted 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. The business had revenue of $106.65 million during the quarter, compared to the consensus estimate of $102.88 million. IMAX had a return on equity of 8.62% and a net margin of 9.04%.The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.35 earnings per share. On average, analysts predict that IMAX will post 0.91 EPS for the current year.

Insider Buying and Selling at IMAX

In related news, insider Kenneth Ian Weissman sold 15,072 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $25.65, for a total transaction of $386,596.80. Following the sale, the insider directly owned 26,133 shares of the company’s stock, valued at $670,311.45. This trade represents a 36.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Robert D. Lister sold 20,000 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $32.80, for a total value of $656,000.00. Following the sale, the vice president directly owned 161,421 shares in the company, valued at $5,294,608.80. This trade represents a 11.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 23.18% of the company’s stock.

Institutional Investors Weigh In On IMAX

Institutional investors have recently modified their holdings of the business. TD Waterhouse Canada Inc. boosted its position in shares of IMAX by 125.0% during the second quarter. TD Waterhouse Canada Inc. now owns 900 shares of the company’s stock valued at $25,000 after buying an additional 500 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of IMAX by 467.8% during the third quarter. Farther Finance Advisors LLC now owns 1,215 shares of the company’s stock valued at $40,000 after buying an additional 1,001 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in IMAX in the third quarter worth about $57,000. Creative Financial Designs Inc. ADV purchased a new position in IMAX in the first quarter worth about $59,000. Finally, Ridgewood Investments LLC purchased a new position in IMAX in the second quarter worth about $62,000. 93.51% of the stock is owned by hedge funds and other institutional investors.

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.