IMAX (NYSE:IMAX) Stock Rating Reaffirmed by Wedbush

Wedbush restated their outperform rating on shares of IMAX (NYSE:IMAX) in a report released on Friday, Benzinga reports. The brokerage currently has a $22.00 price target on the stock.

A number of other equities analysts also recently issued reports on IMAX. StockNews.com downgraded shares of IMAX from a buy rating to a hold rating in a report on Saturday, January 27th. 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 research report on Thursday, January 11th. B. Riley dropped their price objective on IMAX from $27.00 to $21.00 and set a buy rating for the company in a research note on Tuesday, January 2nd. Benchmark reiterated a buy rating and issued a $22.00 price objective on shares of IMAX in a research report on Tuesday, April 16th. Finally, Rosenblatt Securities cut 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. 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 company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $20.57.

IMAX Stock Performance

NYSE IMAX opened at $17.14 on Friday. The company’s 50-day simple moving average is $16.37 and its two-hundred day simple moving average is $16.10. IMAX has a one year low of $13.20 and a one year high of $21.82. The company has a market capitalization of $907.56 million, a price-to-earnings ratio of 35.71, a price-to-earnings-growth ratio of 1.53 and a beta of 1.25.

IMAX (NYSE:IMAX) last issued its quarterly earnings data on Thursday, April 25th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.05. IMAX had a return on equity of 9.37% and a net margin of 7.13%. The firm had revenue of $79.12 million during the quarter, compared to analysts’ expectations of $77.88 million. Equities analysts expect that IMAX will post 0.57 earnings per share for the current fiscal year.

Insider Transactions at IMAX

In related news, VP Robert D. Lister sold 25,000 shares of IMAX stock in a transaction dated Thursday, March 14th. The stock was 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 directly owns 138,889 shares in the company, valued at $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. Insiders own 24.33% of the company’s stock.

Institutional Trading of IMAX

Several institutional investors have recently added to or reduced their stakes in IMAX. PNC Financial Services Group Inc. bought a new stake in shares of IMAX during the 4th quarter valued at about $33,000. Tower Research Capital LLC TRC grew its stake in IMAX by 545.0% during the 4th 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 acquired a new stake in IMAX in the fourth quarter worth $111,000. SG Americas Securities LLC bought a new stake in IMAX in the third quarter valued at $139,000. Finally, C M Bidwell & Associates Ltd. acquired a new position in shares of IMAX during the third quarter valued at $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.