IMAX (NYSE:IMAX) Stock Price Expected to Rise, Macquarie Analyst Says

IMAX (NYSE:IMAX) had its price objective boosted by equities research analysts at Macquarie from $28.00 to $30.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Macquarie’s price objective would indicate a potential upside of 15.27% from the stock’s previous close.

IMAX has been the subject of a number of other reports. Rosenblatt Securities upped their target price on IMAX from $28.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. raised their price objective on shares of IMAX from $21.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Wedbush reiterated an “outperform” rating and set a $32.00 target price on shares of IMAX in a research report on Thursday. Wells Fargo & Company increased their price target on shares of IMAX from $26.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, StockNews.com lowered IMAX from a “buy” rating to a “hold” rating in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.67.

IMAX Price Performance

NYSE IMAX opened at $26.03 on Thursday. The company’s fifty day moving average is $24.65 and its two-hundred day moving average is $23.00. IMAX has a 52-week low of $14.94 and a 52-week high of $27.77. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of 53.11, 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 for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.14). The firm had revenue of $92.67 million for the quarter, compared to analyst estimates of $104.08 million. IMAX had a return on equity of 8.79% and a net margin of 7.40%. As a group, sell-side analysts expect that IMAX will post 0.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Robert D. Lister sold 55,910 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $25.50, for a total transaction of $1,425,705.00. Following the transaction, the executive vice president now owns 138,889 shares in the company, valued at $3,541,669.50. This represents a 28.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Natasha Fernandes sold 2,957 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $25.52, for a total transaction of $75,462.64. Following the sale, the chief financial officer now directly owns 14,883 shares in the company, valued at approximately $379,814.16. This represents a 16.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 65,176 shares of company stock worth $1,662,110 in the last three months. Insiders own 24.08% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of IMAX. FMR LLC increased its stake in shares of IMAX by 14.2% in the 4th quarter. FMR LLC now owns 4,508,583 shares of the company’s stock valued at $115,420,000 after buying an additional 558,940 shares during the period. Ameriprise Financial Inc. boosted its holdings in IMAX by 36.9% in the fourth quarter. Ameriprise Financial Inc. now owns 1,823,516 shares of the company’s stock valued at $46,671,000 after acquiring an additional 491,172 shares during the last quarter. Royce & Associates LP increased its position in IMAX by 3.1% in the third quarter. Royce & Associates LP now owns 1,822,616 shares of the company’s stock worth $37,382,000 after purchasing an additional 54,850 shares during the period. Victory Capital Management Inc. raised its holdings in IMAX by 9.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,420,592 shares of the company’s stock worth $29,136,000 after purchasing an additional 127,371 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in IMAX by 45.4% during the 4th quarter. Wells Fargo & Company MN now owns 624,510 shares of the company’s stock valued at $15,987,000 after purchasing an additional 194,917 shares during the period. 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.