IMAX (NYSE:IMAX) Receives “Buy” Rating from Rosenblatt Securities

IMAX (NYSE:IMAX)‘s stock had its “buy” rating reissued by research analysts at Rosenblatt Securities in a research note issued on Thursday, Benzinga reports. They presently have a $28.00 price target on the stock. Rosenblatt Securities’ target price would indicate a potential upside of 16.38% from the company’s previous close.

A number of other analysts have also recently commented on the stock. Macquarie lifted their target price on shares of IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Seaport Res Ptn upgraded shares of IMAX to a “strong-buy” rating in a research note on Wednesday, July 24th. B. Riley lifted their price objective on shares of IMAX from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, July 8th. Barrington Research restated an “outperform” rating and set a $24.00 price objective on shares of IMAX in a research note on Wednesday, September 25th. Finally, Roth Mkm restated a “buy” rating and set a $27.00 price objective on shares of IMAX in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $24.22.

IMAX Stock Down 1.0 %

IMAX stock opened at $24.06 on Thursday. The firm has a 50 day moving average of $20.75 and a 200 day moving average of $18.69. The stock has a market capitalization of $1.27 billion, a PE ratio of 54.68, a price-to-earnings-growth ratio of 1.63 and a beta of 1.22. IMAX has a 52 week low of $13.20 and a 52 week high of $24.39.

Hedge Funds Weigh In On IMAX

Large investors have recently made changes to their positions in the company. Headlands Technologies LLC purchased a new stake in IMAX in the 2nd quarter worth $35,000. PNC Financial Services Group Inc. purchased a new stake in shares of IMAX during the fourth quarter worth $33,000. nVerses Capital LLC purchased a new stake in shares of IMAX during the third quarter worth $70,000. Summit Securities Group LLC purchased a new stake in shares of IMAX during the second quarter worth $80,000. Finally, US Bancorp DE grew its holdings in shares of IMAX by 23.4% during the third quarter. US Bancorp DE now owns 7,656 shares of the company’s stock worth $157,000 after buying an additional 1,452 shares in the last quarter. 93.51% of the stock is currently owned by institutional investors and hedge funds.

About IMAX

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.