IMAX (NYSE:IMAX) Price Target Increased to $27.00 by Analysts at Roth Mkm

IMAX (NYSE:IMAX) had its price objective raised by Roth Mkm from $23.00 to $27.00 in a research note published on Friday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms also recently commented on IMAX. Macquarie raised their price objective on IMAX from $24.00 to $26.00 and gave the stock an outperform rating in a report on Friday. Seaport Res Ptn upgraded shares of IMAX to a strong-buy rating in a report on Wednesday. B. Riley boosted their price objective on shares of IMAX from $27.00 to $30.00 and gave the stock a buy rating in a research note on Monday, July 8th. Barrington Research reissued an outperform rating and issued a $25.00 price objective on shares of IMAX in a research report on Friday. Finally, Wedbush upped their price target on shares of IMAX from $22.00 to $24.00 and gave the stock an outperform rating in a research report on Friday. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $23.56.

IMAX Stock Performance

IMAX stock opened at $20.09 on Friday. The company has a market cap of $1.06 billion, a price-to-earnings ratio of 41.86, a PEG ratio of 1.69 and a beta of 1.26. IMAX has a 1 year low of $13.20 and a 1 year high of $20.70. The firm has a 50 day moving average price of $16.75 and a 200 day moving average price of $16.12.

IMAX (NYSE:IMAX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.11. The company had revenue of $88.96 million during the quarter, compared to analysts’ expectations of $74.52 million. IMAX had a net margin of 5.97% and a return on equity of 7.77%. The business’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.17 EPS. Sell-side analysts predict that IMAX will post 0.57 EPS for the current year.

Institutional Trading of IMAX

A number of hedge funds and other institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. acquired a new stake in IMAX during the 4th quarter valued at approximately $33,000. Summit Securities Group LLC purchased a new position in shares of IMAX during the 2nd quarter valued at approximately $80,000. Tower Research Capital LLC TRC grew its position in shares of IMAX by 545.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the company’s stock worth $75,000 after buying an additional 4,218 shares in the last quarter. Partnership Wealth Management LLC bought a new stake in shares of IMAX in the fourth quarter worth $111,000. Finally, Laurus Investment Counsel Inc. acquired a new stake in IMAX in the second quarter valued at $150,000. 93.51% of the stock is owned by hedge funds and other institutional investors.

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.