Macquarie Issues Positive Forecast for IMAX (NYSE:IMAX) Stock Price

IMAX (NYSE:IMAX) had its price objective lifted by investment analysts at Macquarie from $28.00 to $30.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Macquarie’s target price indicates a potential upside of 11.52% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Roth Mkm lifted their price target on shares of IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Wells Fargo & Company raised their price objective on IMAX from $26.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday. Benchmark restated a “buy” rating and issued a $30.00 price target on shares of IMAX in a report on Thursday. Rosenblatt Securities boosted their price objective on IMAX from $28.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday. Finally, StockNews.com downgraded shares of IMAX from a “buy” rating to a “hold” rating in a report 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $30.44.

IMAX Stock Down 1.2 %

Shares of IMAX stock traded down $0.32 during trading on Thursday, reaching $26.90. 1,262,543 shares of the company were exchanged, compared to its average volume of 708,510. IMAX has a twelve month low of $14.94 and a twelve month high of $27.38. The business has a 50-day moving average price of $24.63 and a 200-day moving average price of $22.93. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 61.14, a P/E/G ratio of 1.49 and a beta of 1.22.

IMAX (NYSE:IMAX) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.14). IMAX had a net margin of 6.74% and a return on equity of 7.53%. The company had revenue of $92.67 million during the quarter, compared to the consensus estimate of $104.08 million. On average, equities research analysts forecast that IMAX will post 0.64 EPS for the current fiscal year.

Insider Activity at IMAX

In other 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 value of $1,425,705.00. Following the sale, the executive vice president now directly owns 138,889 shares of the company’s stock, valued at approximately $3,541,669.50. This represents a 28.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kenneth Ian Weissman sold 6,309 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $25.51, for a total transaction of $160,942.59. Following the completion of the sale, the insider now owns 25,139 shares of the company’s stock, valued at $641,295.89. This trade represents a 20.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,176 shares of company stock valued at $1,662,110. Insiders own 24.08% of the company’s stock.

Institutional Trading of IMAX

A number of hedge funds have recently made changes to their positions in the business. Blue Trust Inc. raised its stake in IMAX by 138.5% in the 4th quarter. Blue Trust Inc. now owns 966 shares of the company’s stock valued at $25,000 after acquiring an additional 561 shares during the period. Huntington National Bank acquired a new position in shares of IMAX in the third quarter valued at $34,000. Quarry LP raised its position in shares of IMAX by 78,333.3% in the third quarter. Quarry LP now owns 2,353 shares of the company’s stock valued at $48,000 after purchasing an additional 2,350 shares during the period. US Bancorp DE lifted its stake in shares of IMAX by 23.4% during the 3rd quarter. US Bancorp DE now owns 7,656 shares of the company’s stock worth $157,000 after buying an additional 1,452 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of IMAX by 415.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,236 shares of the company’s stock worth $185,000 after buying an additional 5,832 shares during the period. 93.51% of the stock is owned by institutional investors and hedge funds.

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.