IMAX (NYSE:IMAX) Receives “Outperform” Rating from Wedbush

Wedbush reiterated their outperform rating on shares of IMAX (NYSE:IMAX) in a report issued on Thursday morning,RTT News reports. The brokerage currently has a $32.00 target price on the stock.

IMAX has been the subject of a number of other reports. Benchmark reaffirmed a “buy” rating and issued a $30.00 price target on shares of IMAX in a report on Thursday, April 10th. StockNews.com lowered IMAX from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. Macquarie increased their price target on shares of IMAX from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Barrington Research boosted their price objective on shares of IMAX from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. lowered their target price on shares of IMAX from $27.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $30.56.

IMAX Stock Performance

Shares of IMAX stock opened at $22.47 on Thursday. The stock has a market capitalization of $1.19 billion, a P/E ratio of 45.85, a P/E/G ratio of 1.49 and a beta of 0.91. IMAX has a 52-week low of $14.94 and a 52-week high of $27.77. The stock’s 50-day simple moving average is $25.09 and its 200 day simple moving average is $24.16.

IMAX (NYSE:IMAX) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.14). The business had revenue of $92.67 million for the quarter, compared to analysts’ expectations of $104.08 million. IMAX had a net margin of 7.40% and a return on equity of 8.60%. Equities research analysts forecast that IMAX will post 0.91 EPS for the current fiscal year.

Institutional Trading of IMAX

Several institutional investors and hedge funds have recently made changes to their positions in IMAX. Blue Trust Inc. increased its stake in IMAX by 138.5% in the fourth quarter. Blue Trust Inc. now owns 966 shares of the company’s stock valued at $25,000 after acquiring an additional 561 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of IMAX by 415.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,236 shares of the company’s stock valued at $185,000 after purchasing an additional 5,832 shares during the last quarter. Wealthfront Advisers LLC bought a new position in shares of IMAX during the 4th quarter valued at about $217,000. Cornerstone Investment Partners LLC purchased a new position in shares of IMAX during the 4th quarter valued at about $248,000. Finally, Savant Capital LLC bought a new stake in IMAX in the 4th quarter worth approximately $249,000. Hedge funds and other 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.