IMAX (NYSE:IMAX) Earns Outperform Rating from Barrington Research

IMAX (NYSE:IMAX)‘s stock had its “outperform” rating restated by analysts at Barrington Research in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $25.00 price target on the stock. Barrington Research’s price objective would indicate a potential upside of 25.38% from the company’s previous close.

IMAX has been the topic of a number of other research reports. Wedbush reaffirmed an “outperform” rating and issued a $22.00 target price on shares of IMAX in a research report on Thursday, July 18th. Benchmark reaffirmed a “buy” rating and issued a $22.00 target price on shares of IMAX in a research report on Thursday, June 20th. Seaport Res Ptn raised shares of IMAX to a “strong-buy” rating in a research report on Wednesday. Rosenblatt Securities reissued a “buy” rating and set a $25.00 price target on shares of IMAX in a research report on Monday, June 17th. Finally, Roth Mkm increased their price target on shares of IMAX from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, IMAX currently has a consensus rating of “Moderate Buy” and an average price target of $22.56.

IMAX Price Performance

Shares of IMAX traded up $0.54 during mid-day trading on Friday, reaching $19.94. The stock had a trading volume of 92,947 shares, compared to its average volume of 795,295. IMAX has a 52-week low of $13.20 and a 52-week high of $20.70. The business’s fifty day moving average is $16.69 and its 200 day moving average is $16.09. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 41.54, a P/E/G ratio of 1.52 and a beta of 1.26.

IMAX (NYSE:IMAX) last announced its quarterly earnings data on Thursday, April 25th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.05. IMAX had a net margin of 7.13% and a return on equity of 9.47%. The firm had revenue of $79.12 million during the quarter, compared to analyst estimates of $77.88 million. As a group, sell-side analysts anticipate that IMAX will post 0.58 EPS for the current fiscal year.

Institutional Trading of IMAX

Several hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in IMAX by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,454,524 shares of the company’s stock valued at $21,847,000 after acquiring an additional 10,358 shares in the last quarter. Private Capital Management LLC increased its stake in IMAX by 10.0% in the first quarter. Private Capital Management LLC now owns 1,304,364 shares of the company’s stock valued at $21,092,000 after purchasing an additional 118,649 shares during the last quarter. Victory Capital Management Inc. increased its stake in IMAX by 13.0% in the fourth quarter. Victory Capital Management Inc. now owns 825,319 shares of the company’s stock valued at $12,396,000 after purchasing an additional 95,182 shares during the last quarter. Bank of New York Mellon Corp increased its stake in IMAX by 90.6% in the second 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 last quarter. Finally, Vanguard Group Inc. increased its stake in IMAX by 13.2% in the first quarter. Vanguard Group Inc. now owns 584,795 shares of the company’s stock valued at $9,456,000 after purchasing an additional 68,155 shares during the last quarter. Institutional investors and hedge funds own 93.51% of the company’s stock.

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.