IMAX (NYSE:IMAX) Given New $32.00 Price Target at Barrington Research

IMAX (NYSE:IMAX) had its price target lifted by Barrington Research from $30.00 to $32.00 in a report published on Thursday morning,Benzinga reports. Barrington Research currently has an outperform rating on the stock.

Several other equities research analysts have also recently commented on IMAX. JPMorgan Chase & Co. boosted their price target on shares of IMAX from $21.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Wedbush reissued an “outperform” rating and set a $32.00 price target on shares of IMAX in a research report on Wednesday, February 12th. StockNews.com cut shares of IMAX from a “buy” rating to a “hold” rating in a research report on Thursday, February 13th. Roth Mkm boosted their price target on shares of IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Rosenblatt Securities reissued a “buy” rating and set a $28.00 price target on shares of IMAX in a research report on Thursday, January 16th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, IMAX currently has a consensus rating of “Moderate Buy” and an average price target of $30.44.

IMAX Trading Down 1.2 %

IMAX opened at $26.90 on Thursday. The stock has a market capitalization of $1.42 billion, a P/E ratio of 61.14, a P/E/G ratio of 1.49 and a beta of 1.22. IMAX has a 12 month low of $14.94 and a 12 month high of $27.38. The firm’s fifty day simple moving average is $24.65 and its 200 day simple moving average is $22.96.

IMAX (NYSE:IMAX) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.14). The company had revenue of $92.67 million during the quarter, compared to the consensus estimate of $104.08 million. IMAX had a net margin of 6.74% and a return on equity of 7.53%. On average, equities research analysts predict that IMAX will post 0.64 EPS for the current fiscal year.

Insider Activity at IMAX

In related news, insider Kenneth Ian Weissman sold 6,309 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $25.51, for a total value of $160,942.59. Following the transaction, the insider now owns 25,139 shares in the company, valued at approximately $641,295.89. This represents a 20.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Natasha Fernandes sold 2,957 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $25.52, for a total transaction of $75,462.64. Following the completion of the transaction, the chief financial officer now owns 14,883 shares in the company, valued at approximately $379,814.16. This trade represents a 16.58 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,176 shares of company stock worth $1,662,110. Insiders own 24.08% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC grew its position in shares of IMAX by 108.4% during the 3rd quarter. FMR LLC now owns 3,949,643 shares of the company’s stock worth $81,007,000 after purchasing an additional 2,054,031 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of IMAX by 36.9% during the 4th quarter. Ameriprise Financial Inc. now owns 1,823,516 shares of the company’s stock worth $46,671,000 after purchasing an additional 491,172 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of IMAX during the 4th quarter worth approximately $9,143,000. Lord Abbett & CO. LLC acquired a new position in shares of IMAX during the 3rd quarter worth approximately $6,322,000. Finally, Pier Capital LLC grew its position in shares of IMAX by 132.6% during the 4th quarter. Pier Capital LLC now owns 478,760 shares of the company’s stock worth $12,256,000 after purchasing an additional 272,949 shares in the last quarter. Institutional investors and hedge funds own 93.51% of the company’s stock.

IMAX Company Profile

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.