IMAX’s (IMAX) Outperform Rating Reiterated at Barrington Research

IMAX (NYSE:IMAX)‘s stock had its “outperform” rating reiterated by equities researchers at Barrington Research in a research note issued to investors on Monday,Benzinga reports. They currently have a $42.00 price target on the stock. Barrington Research’s target price points to a potential upside of 21.40% from the stock’s previous close.

Several other research analysts have also issued reports on the stock. Wall Street Zen lowered shares of IMAX from a “strong-buy” rating to a “buy” rating in a research note on Friday. Wells Fargo & Company lifted their price objective on IMAX from $40.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, December 18th. JPMorgan Chase & Co. upgraded shares of IMAX from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $32.00 to $47.00 in a report on Monday, December 15th. Rosenblatt Securities boosted their target price on shares of IMAX from $42.00 to $47.00 and gave the company a “buy” rating in a research note on Monday, December 8th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $42.00 price objective on shares of IMAX in a report on Monday, December 8th. Ten equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, IMAX has a consensus rating of “Moderate Buy” and an average price target of $42.70.

IMAX Price Performance

NYSE IMAX opened at $34.60 on Monday. IMAX has a 1 year low of $20.48 and a 1 year high of $39.98. The stock has a market capitalization of $1.86 billion, a PE ratio of 48.73, a PEG ratio of 1.71 and a beta of 0.37. The business’s 50-day moving average is $36.49 and its 200 day moving average is $32.34.

IMAX (NYSE:IMAX) last announced its earnings results on Thursday, October 23rd. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.16. IMAX had a return on equity of 9.91% and a net margin of 10.47%.The company had revenue of $106.65 million during the quarter, compared to the consensus estimate of $102.88 million. During the same quarter in the prior year, the company earned $0.35 earnings per share. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. As a group, equities research analysts anticipate that IMAX will post 0.91 earnings per share for the current year.

Insider Activity

In other IMAX news, VP Robert D. Lister sold 50,143 shares of IMAX stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $34.67, for a total transaction of $1,738,457.81. Following the transaction, the vice president owned 161,421 shares of the company’s stock, valued at $5,596,466.07. The trade was a 23.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Giovanni M. Dolci sold 6,188 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $34.25, for a total transaction of $211,939.00. Following the completion of the transaction, the executive vice president owned 33,000 shares of the company’s stock, valued at approximately $1,130,250. The trade was a 15.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 24.08% of the stock is owned by company insiders.

Institutional Investors Weigh In On IMAX

A number of institutional investors have recently bought and sold shares of the business. TD Waterhouse Canada Inc. raised its holdings in 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 acquiring an additional 500 shares during the period. CIBC Private Wealth Group LLC bought a new stake in IMAX during the 3rd quarter valued at approximately $27,000. First Horizon Corp bought a new stake in IMAX during the 3rd quarter valued at approximately $34,000. Jones Financial Companies Lllp lifted its holdings in IMAX by 43.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,041 shares of the company’s stock worth $34,000 after purchasing an additional 317 shares in the last quarter. Finally, Clearstead Advisors LLC bought a new position in IMAX in the 3rd quarter worth approximately $35,000. Hedge funds and other institutional investors own 93.51% of the company’s stock.

IMAX Company Profile

IMAX Corporation is a global leader in immersive entertainment technologies, specializing in the design, manufacture and distribution of high-resolution cameras, projectors, and proprietary software solutions that enhance both film production and theatrical exhibition. The company licenses its premium large-format system to theatre owners and filmmakers around the world, enabling audiences to experience movies with greater clarity, scale and sound fidelity. IMAX also offers turnkey theatre development services, assisting cinema operators with auditorium design, installation and custom branding to optimize the customer experience.

Founded in 1967 and headquartered in Mississauga, Ontario, IMAX has built a reputation for pioneering film-format innovations, including its patented dual 15-perforation, 70-millimeter projection system.