IMAX (NYSE:IMAX) Receives “Outperform” Rating from Barrington Research

Barrington Research reissued their outperform rating on shares of IMAX (NYSE:IMAX) in a research report report published on Thursday, Benzinga reports. They currently have a $24.00 price target on the stock.

Several other brokerages have also recently issued reports on IMAX. JPMorgan Chase & Co. increased their price objective on IMAX from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Macquarie lifted their price objective on IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Rosenblatt Securities reiterated a “buy” rating and set a $28.00 price target on shares of IMAX in a report on Thursday. Seaport Res Ptn upgraded shares of IMAX to a “strong-buy” rating in a report on Wednesday, July 24th. Finally, B. Riley boosted their target price on shares of IMAX from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, IMAX currently has an average rating of “Moderate Buy” and a consensus price target of $24.22.

IMAX Price Performance

Shares of IMAX stock traded down $0.07 during trading on Thursday, reaching $24.23. The company’s stock had a trading volume of 528,943 shares, compared to its average volume of 771,839. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 54.73, a P/E/G ratio of 1.63 and a beta of 1.25. IMAX has a 1-year low of $13.20 and a 1-year high of $24.39. The stock’s 50-day moving average price is $20.63 and its 200 day moving average price is $18.60.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in IMAX. Headlands Technologies LLC purchased a new position in shares of IMAX during the second quarter worth about $35,000. PNC Financial Services Group Inc. acquired a new position in shares of IMAX during the 4th quarter worth $33,000. nVerses Capital LLC acquired a new position in IMAX during the third quarter worth about $70,000. Summit Securities Group LLC acquired a new stake in shares of IMAX in the 2nd quarter worth approximately $80,000. Finally, US Bancorp DE increased its position in shares of IMAX by 23.4% in the third quarter. US Bancorp DE now owns 7,656 shares of the company’s stock valued at $157,000 after buying an additional 1,452 shares in 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.