Rosenblatt Securities Reaffirms “Buy” Rating for IMAX (NYSE:IMAX)

Rosenblatt Securities reiterated their buy rating on shares of IMAX (NYSE:IMAX) in a report released on Thursday,Benzinga reports. The firm currently has a $35.00 price target on the stock.

Other equities research analysts have also recently issued reports about the stock. Wedbush reaffirmed an “outperform” rating and issued a $32.00 target price on shares of IMAX in a report on Thursday, February 20th. Barrington Research upped their price objective on IMAX from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Macquarie lifted their target price on IMAX from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. upped their price target on IMAX from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday, February 21st. Finally, Benchmark reiterated a “buy” rating and issued a $30.00 price objective on shares of IMAX in a research report on Thursday. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, IMAX currently has an average rating of “Moderate Buy” and an average target price of $30.56.

IMAX Stock Performance

IMAX stock opened at $21.48 on Thursday. The company has a market capitalization of $1.14 billion, a P/E ratio of 43.85, a PEG ratio of 1.49 and a beta of 0.91. IMAX has a fifty-two week low of $14.94 and a fifty-two week high of $27.77. The stock has a 50-day simple moving average of $25.36 and a 200-day simple moving average of $24.15.

IMAX (NYSE:IMAX) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.14). The firm had revenue of $92.67 million during the quarter, compared to analyst estimates of $104.08 million. IMAX had a net margin of 7.40% and a return on equity of 8.60%. As a group, analysts forecast that IMAX will post 0.91 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in IMAX. Principal Financial Group Inc. boosted its stake in shares of IMAX by 69.3% during the 4th quarter. Principal Financial Group Inc. now owns 103,946 shares of the company’s stock worth $2,661,000 after acquiring an additional 42,562 shares in the last quarter. Intech Investment Management LLC boosted its position in IMAX by 116.1% during the fourth quarter. Intech Investment Management LLC now owns 21,589 shares of the company’s stock worth $553,000 after purchasing an additional 11,597 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in IMAX in the fourth quarter valued at $9,143,000. Savant Capital LLC acquired a new stake in IMAX in the fourth quarter valued at $249,000. Finally, Lord Abbett & CO. LLC purchased a new position in shares of IMAX in the third quarter valued at $6,322,000. 93.51% of the stock is currently owned by institutional investors and hedge funds.

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.