Imax (NYSE:IMAX) had its price target lifted by equities researchers at B. Riley from $35.00 to $37.75 in a research note issued on Wednesday. The brokerage presently has a “buy” rating on the stock. B. Riley’s price target indicates a potential upside of 62.37% from the company’s current price.
Several other equities research analysts have also issued reports on IMAX. Piper Jaffray Companies lowered shares of Imax from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $28.00 to $21.00 in a research note on Wednesday, January 10th. ValuEngine lowered shares of Imax from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. JPMorgan Chase & Co. initiated coverage on shares of Imax in a research note on Tuesday, February 20th. They issued an “overweight” rating and a $28.00 price target on the stock. Wedbush reiterated an “outperform” rating and issued a $30.00 price target on shares of Imax in a research note on Tuesday, February 20th. Finally, Zacks Investment Research lowered shares of Imax from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $29.68.
Shares of Imax (IMAX) opened at $23.25 on Wednesday. The company has a market cap of $1,531.45, a price-to-earnings ratio of 258.36, a P/E/G ratio of 1.37 and a beta of 0.94. Imax has a 52-week low of $17.58 and a 52-week high of $34.60.
In other news, insider Robert D. Lister sold 3,528 shares of the business’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $23.97, for a total transaction of $84,566.16. Following the transaction, the insider now directly owns 35,594 shares in the company, valued at approximately $853,188.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert D. Lister sold 3,518 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $22.95, for a total transaction of $80,738.10. Following the transaction, the insider now owns 38,540 shares in the company, valued at $884,493. The disclosure for this sale can be found here. Insiders have sold a total of 11,583 shares of company stock worth $274,111 over the last 90 days. 18.90% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in IMAX. Crow Point Partners LLC bought a new stake in shares of Imax during the 4th quarter worth about $103,000. Invictus RG bought a new stake in shares of Imax during the 4th quarter worth about $213,000. Formula Growth Ltd. bought a new stake in shares of Imax during the 3rd quarter worth about $222,000. First Mercantile Trust Co. bought a new stake in shares of Imax during the 4th quarter worth about $231,000. Finally, Foundry Partners LLC bought a new stake in shares of Imax during the 4th quarter worth about $244,000. Institutional investors own 83.29% of the company’s stock.
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Imax Company Profile
IMAX Corporation is an entertainment technology company. The Company operates through seven segments: IMAX systems; theater system maintenance; joint revenue sharing arrangements; film production and IMAX DMR; film distribution; film post-production, and other. The IMAX systems segment designs, manufactures, sells or leases IMAX theater projection system equipment.
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