IMAX (NYSE:IMAX) Given New $28.00 Price Target at Roth Mkm

IMAX (NYSE:IMAX) had its price target hoisted by Roth Mkm from $27.00 to $28.00 in a research report sent to investors on Thursday, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other analysts have also commented on the company. Wedbush raised their price target on IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 3rd. Macquarie boosted their price target on shares of IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Rosenblatt Securities restated a “buy” rating and issued a $28.00 price objective on shares of IMAX in a report on Thursday. B. Riley upped their target price on IMAX from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, July 8th. Finally, Barrington Research restated an “outperform” rating and issued a $24.00 target price on shares of IMAX in a research note on Thursday. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.22.

IMAX Price Performance

IMAX traded down $0.07 during midday trading on Thursday, reaching $24.23. 528,943 shares of the company’s stock traded hands, compared to its average volume of 771,839. IMAX has a 52 week low of $13.20 and a 52 week high of $24.39. The firm has a fifty day moving average of $20.63 and a two-hundred day moving average of $18.60. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 54.73, a P/E/G ratio of 1.63 and a beta of 1.25.

Hedge Funds Weigh In On IMAX

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