IMAX (NYSE:IMAX) Stock Rating Reaffirmed by Barrington Research

IMAX (NYSE:IMAX)‘s stock had its “outperform” rating reissued by research analysts at Barrington Research in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $24.00 price target on the stock. Barrington Research’s target price suggests a potential upside of 18.58% from the company’s previous close.

A number of other equities analysts also recently commented on IMAX. Wedbush lifted their price objective on shares of IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, September 3rd. B. Riley boosted their price objective on shares of IMAX from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, July 8th. 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. Rosenblatt Securities upped their target price on IMAX from $25.00 to $28.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Seaport Res Ptn raised IMAX to a “strong-buy” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $23.67.

IMAX Stock Performance

IMAX opened at $20.24 on Wednesday. IMAX has a 1-year low of $13.20 and a 1-year high of $22.13. The company has a 50-day moving average of $20.36 and a 200-day moving average of $17.88. The company has a market capitalization of $1.07 billion, a P/E ratio of 42.17, a PEG ratio of 1.38 and a beta of 1.25.

IMAX (NYSE:IMAX) last released its earnings results on Thursday, July 25th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.11. IMAX had a return on equity of 7.78% and a net margin of 5.97%. The company had revenue of $88.96 million for the quarter, compared to the consensus estimate of $74.52 million. During the same quarter last year, the business posted $0.17 EPS. IMAX’s quarterly revenue was down 9.2% compared to the same quarter last year. As a group, sell-side analysts expect that IMAX will post 0.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IMAX

Several large investors have recently bought and sold shares of the stock. Headlands Technologies LLC bought a new stake in shares of IMAX in the 2nd quarter worth $35,000. Price T Rowe Associates Inc. MD raised its position in IMAX by 19.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,082 shares of the company’s stock worth $212,000 after acquiring an additional 2,153 shares in the last quarter. PNC Financial Services Group Inc. acquired a new stake in IMAX in the 4th quarter valued at about $33,000. Summit Securities Group LLC bought a new position in shares of IMAX during the 2nd quarter valued at about $80,000. Finally, Partnership Wealth Management LLC raised its holdings in shares of IMAX by 63.1% in the 1st quarter. Partnership Wealth Management LLC now owns 12,932 shares of the company’s stock worth $209,000 after purchasing an additional 5,005 shares in 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.