IMAX’s (IMAX) Buy Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of IMAX (NYSE:IMAX) in a report released on Thursday morning, Benzinga reports. The firm currently has a $28.00 target price on the stock.

Several other brokerages have also recently issued reports on IMAX. Seaport Res Ptn upgraded IMAX to a “strong-buy” rating in a research note on Wednesday, July 24th. Barrington Research reissued an “outperform” rating and set a $24.00 price target on shares of IMAX in a research report on Wednesday, September 25th. JPMorgan Chase & Co. upped their price objective on shares of IMAX from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Macquarie raised their target price on shares of IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, B. Riley upped their price target on shares of IMAX from $27.00 to $30.00 and gave the company a “buy” rating in a report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, IMAX currently has an average rating of “Moderate Buy” and a consensus target price of $24.22.

IMAX Stock Down 1.0 %

IMAX stock opened at $24.06 on Thursday. The stock has a market capitalization of $1.27 billion, a PE ratio of 54.68, a price-to-earnings-growth ratio of 1.83 and a beta of 1.22. IMAX has a 52 week low of $13.20 and a 52 week high of $24.39. The firm has a 50 day moving average of $20.75 and a 200 day moving average of $18.69.

IMAX (NYSE:IMAX) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.23 by $0.12. IMAX had a net margin of 6.74% and a return on equity of 7.53%. The business had revenue of $91.50 million during the quarter, compared to the consensus estimate of $93.71 million. During the same period in the previous year, the firm posted $0.27 earnings per share. The business’s revenue for the quarter was down 11.9% compared to the same quarter last year. On average, equities research analysts expect that IMAX will post 0.67 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. lifted its position in shares of IMAX by 33.1% during the 2nd quarter. Victory Capital Management Inc. now owns 1,293,221 shares of the company’s stock worth $21,687,000 after buying an additional 321,506 shares during the last quarter. Acadian Asset Management LLC lifted its position in IMAX by 178.7% in the first quarter. Acadian Asset Management LLC now owns 490,917 shares of the company’s stock valued at $7,934,000 after acquiring an additional 314,742 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of IMAX by 90.6% during the second quarter. Bank of New York Mellon Corp now owns 587,694 shares of the company’s stock worth $9,856,000 after purchasing an additional 279,410 shares during the last quarter. Pembroke Management LTD increased its position in shares of IMAX by 35.2% during the second quarter. Pembroke Management LTD now owns 474,761 shares of the company’s stock worth $7,962,000 after purchasing an additional 123,648 shares in the last quarter. Finally, Private Capital Management LLC lifted its holdings in shares of IMAX by 10.0% in the 1st quarter. Private Capital Management LLC now owns 1,304,364 shares of the company’s stock valued at $21,092,000 after purchasing an additional 118,649 shares during the last quarter. 93.51% of the stock is owned by institutional investors and hedge funds.

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.