IMAX (NYSE:IMAX) Price Target Raised to $27.00

IMAX (NYSE:IMAX) had its target price boosted by Roth Mkm from $23.00 to $27.00 in a report published on Friday, Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts have also recently issued reports about the stock. Barrington Research restated an outperform rating and set a $25.00 price target on shares of IMAX in a report on Friday. Wedbush upped their target price on IMAX from $22.00 to $24.00 and gave the stock an outperform rating in a research report on Friday. Rosenblatt Securities lifted their price target on IMAX from $25.00 to $28.00 and gave the company a buy rating in a report on Friday. Seaport Res Ptn upgraded IMAX to a strong-buy rating in a report on Wednesday. Finally, Macquarie raised their price objective on shares of IMAX from $24.00 to $26.00 and gave the company an outperform rating in a research report on Friday. One equities 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 given a strong buy rating to the company’s stock. According to MarketBeat, IMAX has a consensus rating of Moderate Buy and a consensus target price of $23.56.

IMAX Price Performance

NYSE:IMAX opened at $20.09 on Friday. The stock has a market cap of $1.06 billion, a PE ratio of 41.86, a price-to-earnings-growth ratio of 1.69 and a beta of 1.26. IMAX has a fifty-two week low of $13.20 and a fifty-two week high of $20.70. The stock’s 50-day moving average is $16.75 and its two-hundred day moving average is $16.12.

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

Hedge Funds Weigh In On IMAX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC boosted its holdings in shares of IMAX by 65.5% during the 4th quarter. SG Americas Securities LLC now owns 11,868 shares of the company’s stock worth $178,000 after buying an additional 4,699 shares during the period. Equitable Trust Co. boosted its holdings in IMAX by 90.8% during the fourth quarter. Equitable Trust Co. now owns 36,255 shares of the company’s stock valued at $545,000 after acquiring an additional 17,255 shares during the period. Mutual of America Capital Management LLC grew its position in shares of IMAX by 44.0% in the fourth quarter. Mutual of America Capital Management LLC now owns 158,022 shares of the company’s stock valued at $2,373,000 after purchasing an additional 48,266 shares during the last quarter. Knights of Columbus Asset Advisors LLC increased its stake in shares of IMAX by 16.6% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 264,689 shares of the company’s stock worth $3,976,000 after purchasing an additional 37,631 shares during the period. Finally, Mission Wealth Management LP lifted its position in shares of IMAX by 3.6% during the 4th quarter. Mission Wealth Management LP now owns 50,587 shares of the company’s stock worth $760,000 after purchasing an additional 1,737 shares during 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.