IMAX (NYSE:IMAX) Price Target Raised to $28.00 at Roth Mkm

IMAX (NYSE:IMAX) had its price target hoisted by research analysts at Roth Mkm from $27.00 to $28.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Roth Mkm’s target price would suggest a potential upside of 16.38% from the company’s previous close.

Several other research firms have also commented on IMAX. Macquarie raised their target price on shares of IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Rosenblatt Securities reissued a “buy” rating and issued a $28.00 target price on shares of IMAX in a report on Thursday. Barrington Research reissued an “outperform” rating and issued a $24.00 target price on shares of IMAX in a report on Thursday. Seaport Res Ptn raised shares of IMAX to a “strong-buy” rating in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. lifted their price target on shares of IMAX from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, IMAX has a consensus rating of “Moderate Buy” and a consensus target price of $24.22.

IMAX Stock Performance

NYSE:IMAX opened at $24.06 on Thursday. IMAX has a 52 week low of $13.20 and a 52 week high of $24.39. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of 54.68, a P/E/G ratio of 1.63 and a beta of 1.25. The firm’s 50-day simple moving average is $20.75 and its 200 day simple moving average is $18.69.

Institutional Investors Weigh In On IMAX

Several hedge funds have recently added to or reduced their stakes in the business. Private Capital Management LLC boosted its position in IMAX by 10.0% during the 1st quarter. Private Capital Management LLC now owns 1,304,364 shares of the company’s stock worth $21,092,000 after buying an additional 118,649 shares during the period. Victory Capital Management Inc. lifted its position in shares of IMAX by 33.1% in the 2nd quarter. Victory Capital Management Inc. now owns 1,293,221 shares of the company’s stock worth $21,687,000 after purchasing an additional 321,506 shares during the period. Thrivent Financial for Lutherans lifted its position in shares of IMAX by 5.5% in the 2nd quarter. Thrivent Financial for Lutherans now owns 819,325 shares of the company’s stock worth $13,740,000 after purchasing an additional 42,952 shares during the period. Bank of New York Mellon Corp lifted its position in shares of IMAX by 90.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 587,694 shares of the company’s stock worth $9,856,000 after purchasing an additional 279,410 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of IMAX by 13.2% in the 1st quarter. Vanguard Group Inc. now owns 584,795 shares of the company’s stock worth $9,456,000 after purchasing an additional 68,155 shares during the period. 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.