IMAX (NYSE:IMAX) Given New $30.00 Price Target at Wells Fargo & Company

IMAX (NYSE:IMAX) had its target price decreased by research analysts at Wells Fargo & Company from $32.00 to $30.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 25.58% from the company’s current price.

IMAX has been the subject of several other research reports. Benchmark reissued a “buy” rating and issued a $30.00 price objective on shares of IMAX in a report on Thursday, April 10th. Wedbush reissued an “outperform” rating and issued a $32.00 price objective on shares of IMAX in a research report on Thursday, April 17th. Macquarie upped their target price on shares of IMAX from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Barrington Research reiterated an “outperform” rating and issued a $32.00 target price on shares of IMAX in a research note on Thursday. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $35.00 target price on shares of IMAX in a research note on Thursday. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $30.56.

IMAX Stock Up 2.6 %

NYSE IMAX opened at $23.89 on Thursday. IMAX has a 12-month low of $14.94 and a 12-month high of $27.77. The firm’s 50 day moving average is $24.70 and its 200-day moving average is $24.30. The company has a market capitalization of $1.27 billion, a PE ratio of 48.76, a price-to-earnings-growth ratio of 1.49 and a beta of 0.91.

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

Hedge Funds Weigh In On IMAX

Hedge funds have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC raised its stake in IMAX by 1.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 29,176 shares of the company’s stock valued at $747,000 after purchasing an additional 533 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of IMAX by 138.5% during the 4th quarter. Blue Trust Inc. now owns 966 shares of the company’s stock worth $25,000 after acquiring an additional 561 shares during the period. Mission Wealth Management LP increased its stake in IMAX by 2.9% in the first quarter. Mission Wealth Management LP now owns 30,408 shares of the company’s stock valued at $801,000 after acquiring an additional 845 shares during the last quarter. MetLife Investment Management LLC raised its position in IMAX by 3.4% during the fourth quarter. MetLife Investment Management LLC now owns 25,918 shares of the company’s stock valued at $664,000 after purchasing an additional 848 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in IMAX by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,395 shares of the company’s stock worth $625,000 after purchasing an additional 905 shares during the last quarter. 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.