IMAX (NYSE:IMAX) Given New $27.00 Price Target at JPMorgan Chase & Co.

IMAX (NYSE:IMAX) had its price objective hoisted by equities research analysts at JPMorgan Chase & Co. from $25.00 to $27.00 in a report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 2.68% from the stock’s previous close.

A number of other analysts have also commented on IMAX. Macquarie boosted their price target on shares of IMAX from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday. Rosenblatt Securities upped their target price on shares of IMAX from $28.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday. Roth Mkm upped their target price on shares of IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Wedbush restated an “outperform” rating and set a $32.00 price target on shares of IMAX in a research report on Thursday. Finally, Barrington Research upped their price objective on shares of IMAX from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $30.67.

IMAX Price Performance

Shares of IMAX stock traded down $0.63 during trading on Friday, reaching $26.30. 91,171 shares of the company traded hands, compared to its average volume of 689,477. IMAX has a 1-year low of $14.94 and a 1-year high of $27.77. The company has a 50 day moving average price of $24.65 and a 200-day moving average price of $22.96. The firm has a market capitalization of $1.39 billion, a PE ratio of 53.57, a P/E/G ratio of 1.50 and a beta of 1.22.

IMAX (NYSE:IMAX) last released its earnings results on Wednesday, February 19th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.14). The company had revenue of $92.67 million for the quarter, compared to analyst estimates of $104.08 million. IMAX had a net margin of 7.40% and a return on equity of 8.79%. Equities research analysts expect that IMAX will post 0.91 earnings per share for the current year.

Insider Transactions at IMAX

In related news, EVP Robert D. Lister sold 55,910 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $25.50, for a total value of $1,425,705.00. Following the transaction, the executive vice president now directly owns 138,889 shares in the company, valued at approximately $3,541,669.50. This represents a 28.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kenneth Ian Weissman sold 6,309 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now owns 25,139 shares in the company, valued at approximately $641,295.89. This trade represents a 20.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 65,176 shares of company stock valued at $1,662,110. 24.08% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC increased its position in shares of IMAX by 1.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 29,176 shares of the company’s stock worth $747,000 after purchasing an additional 533 shares during the last quarter. Blue Trust Inc. increased its position in shares of IMAX by 138.5% in the fourth quarter. Blue Trust Inc. now owns 966 shares of the company’s stock worth $25,000 after purchasing an additional 561 shares during the last quarter. MetLife Investment Management LLC increased its position in shares of IMAX by 3.4% in the fourth quarter. MetLife Investment Management LLC now owns 25,918 shares of the company’s stock worth $664,000 after purchasing an additional 848 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of IMAX by 3.9% in 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. Finally, US Bancorp DE increased its position in shares of IMAX by 23.4% in the third quarter. US Bancorp DE now owns 7,656 shares of the company’s stock worth $157,000 after purchasing an additional 1,452 shares during the last quarter. 93.51% of the stock is currently owned by 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.