IMAX (NYSE:IMAX) Given Buy Rating at Rosenblatt Securities

IMAX (NYSE:IMAX)‘s stock had its “buy” rating restated by equities researchers at Rosenblatt Securities in a note issued to investors on Thursday,Benzinga reports. They presently have a $28.00 target price on the stock. Rosenblatt Securities’ price objective indicates a potential upside of 22.81% from the company’s previous close.

A number of other research firms have also weighed in on IMAX. Roth Mkm lifted their price objective on shares of IMAX from $27.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. StockNews.com cut IMAX from a “buy” rating to a “hold” rating in a research report on Tuesday. Barrington Research reissued an “outperform” rating and set a $30.00 price objective on shares of IMAX in a report on Friday, January 10th. Wedbush reaffirmed an “outperform” rating on shares of IMAX in a report on Wednesday, November 27th. Finally, Benchmark reissued a “buy” rating and issued a $30.00 price target on shares of IMAX in a report on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $27.38.

IMAX Stock Performance

IMAX stock opened at $22.80 on Thursday. The stock has a fifty day moving average of $24.98 and a 200-day moving average of $21.78. IMAX has a fifty-two week low of $13.20 and a fifty-two week high of $26.84. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 51.82, a PEG ratio of 1.25 and a beta of 1.24.

IMAX (NYSE:IMAX) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.23 by $0.12. The business had revenue of $91.50 million for the quarter, compared to the consensus estimate of $93.71 million. IMAX had a net margin of 6.74% and a return on equity of 7.53%. The company’s revenue was down 11.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.27 earnings per share. Equities analysts predict that IMAX will post 0.77 EPS for the current year.

Insider Transactions at IMAX

In other IMAX news, insider Kenneth Ian Weissman sold 6,309 shares of IMAX stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $25.51, for a total transaction of $160,942.59. Following the completion of the sale, the insider now owns 25,139 shares of the company’s stock, valued at $641,295.89. The trade was a 20.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Natasha Fernandes sold 2,957 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $25.52, for a total value of $75,462.64. Following the transaction, the chief financial officer now owns 14,883 shares in the company, valued at $379,814.16. This trade represents a 16.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,176 shares of company stock valued at $1,662,110. 24.08% of the stock is owned by corporate insiders.

Institutional Trading of IMAX

A number of hedge funds have recently bought and sold shares of IMAX. Huntington National Bank purchased a new position in shares of IMAX during the third quarter worth approximately $34,000. Quarry LP raised its position in IMAX by 78,333.3% in the 3rd quarter. Quarry LP now owns 2,353 shares of the company’s stock worth $48,000 after purchasing an additional 2,350 shares during the period. nVerses Capital LLC bought a new stake in IMAX in the third quarter worth $70,000. US Bancorp DE boosted its position in IMAX by 23.4% during the third quarter. US Bancorp DE now owns 7,656 shares of the company’s stock valued at $157,000 after buying an additional 1,452 shares during the period. Finally, Intech Investment Management LLC bought a new position in shares of IMAX during the third quarter valued at about $205,000. Institutional investors 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.