MKM Partners Increases Imax (IMAX) Price Target to $28.00

Imax (NYSE:IMAX) had its target price raised by MKM Partners to $28.00 in a research report report published on Friday morning, The Fly reports. MKM Partners currently has a buy rating on the stock.

IMAX has been the topic of several other research reports. ValuEngine upgraded shares of Imax from a sell rating to a hold rating in a report on Saturday, January 5th. Wedbush restated an outperform rating on shares of Imax in a report on Wednesday, January 30th. B. Riley set a $34.00 target price on shares of Imax and gave the stock a buy rating in a report on Monday, April 8th. Canaccord Genuity cut shares of Imax from a buy rating to a hold rating and set a $23.00 target price on the stock. in a report on Monday, February 25th. Finally, Zacks Investment Research upgraded shares of Imax from a hold rating to a strong-buy rating and set a $21.00 price target on the stock in a report on Monday, December 31st. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $27.00.

Shares of Imax stock opened at $24.89 on Friday. Imax has a 52-week low of $17.55 and a 52-week high of $26.10. The company has a market capitalization of $1.53 billion, a PE ratio of 44.45, a PEG ratio of 1.55 and a beta of 1.06.



Imax (NYSE:IMAX) last issued its earnings results on Tuesday, February 26th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.01. Imax had a net margin of 6.10% and a return on equity of 6.44%. The firm had revenue of $109.00 million for the quarter, compared to analysts’ expectations of $101.42 million. During the same quarter last year, the business earned $0.34 earnings per share. The business’s revenue was down 13.2% on a year-over-year basis. On average, research analysts forecast that Imax will post 0.82 EPS for the current fiscal year.

In related news, insider Robert D. Lister sold 59,767 shares of Imax stock in a transaction on Monday, March 11th. The shares were sold at an average price of $22.54, for a total value of $1,347,148.18. Following the sale, the insider now owns 39,163 shares in the company, valued at $882,734.02. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Patrick Mcclymont sold 8,596 shares of Imax stock in a transaction on Friday, March 8th. The shares were sold at an average price of $22.43, for a total transaction of $192,808.28. Following the completion of the sale, the chief financial officer now owns 7,564 shares in the company, valued at approximately $169,660.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 123,205 shares of company stock worth $2,766,929. 18.70% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Shapiro Capital Management LLC boosted its holdings in Imax by 6.9% in the fourth quarter. Shapiro Capital Management LLC now owns 5,150,005 shares of the company’s stock valued at $96,872,000 after acquiring an additional 330,598 shares in the last quarter. Jennison Associates LLC lifted its position in Imax by 1.4% during the fourth quarter. Jennison Associates LLC now owns 2,402,161 shares of the company’s stock valued at $45,185,000 after buying an additional 33,257 shares during the period. Dimensional Fund Advisors LP lifted its position in Imax by 5.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,719,609 shares of the company’s stock valued at $32,346,000 after buying an additional 85,783 shares during the period. Norges Bank purchased a new position in Imax during the fourth quarter valued at $18,169,000. Finally, Massachusetts Financial Services Co. MA lifted its position in Imax by 55.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 860,605 shares of the company’s stock valued at $16,188,000 after buying an additional 307,948 shares during the period. Institutional investors and hedge funds own 79.36% of the company’s stock.

About Imax

IMAX Corporation, together with its subsidiaries, operates as an entertainment technology company that specializes in motion picture technologies and presentations worldwide. It offers cinematic solution comprising proprietary software, theater architecture, and equipment. The company engages in Digital Re-Mastering (DMR) of films into the IMAX format for exhibition in the IMAX theater network; the provision of IMAX premium theater systems to exhibitor customers through sales, long-term leases, and joint revenue sharing arrangements; the distribution of documentary films; the provision of production technical support and film post-production services; the ownership and operation of IMAX theaters; and the provision of camera and other miscellaneous items rental services.

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