IMAX’s (IMAX) “Buy” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of IMAX (NYSE:IMAX) in a research report report published on Thursday morning,Benzinga reports. Rosenblatt Securities currently has a $35.00 price objective on the stock.

A number of other analysts also recently issued reports on IMAX. Macquarie raised their price target on shares of IMAX from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Wells Fargo & Company lifted their target price on IMAX from $26.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Wedbush reiterated an “outperform” rating and set a $32.00 price target on shares of IMAX in a report on Thursday, February 20th. JPMorgan Chase & Co. boosted their price objective on shares of IMAX from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Friday, February 21st. Finally, Benchmark reaffirmed a “buy” rating and set a $30.00 target price on shares of IMAX in a research note on Thursday. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $30.56.

IMAX Stock Performance

Shares of IMAX stock opened at $21.48 on Thursday. The business’s 50 day moving average price is $25.36 and its 200 day moving average price is $24.15. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 43.85, a PEG ratio of 1.49 and a beta of 0.91. IMAX has a one year low of $14.94 and a one year high of $27.77.

IMAX (NYSE:IMAX) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.14). IMAX had a net margin of 7.40% and a return on equity of 8.60%. The firm had revenue of $92.67 million for the quarter, compared to analyst estimates of $104.08 million. On average, analysts predict that IMAX will post 0.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Blue Trust Inc. boosted its position 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 buying an additional 561 shares during the period. Tower Research Capital LLC TRC boosted its holdings in IMAX by 415.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,236 shares of the company’s stock valued at $185,000 after purchasing an additional 5,832 shares during the period. Wealthfront Advisers LLC acquired a new position in IMAX during the 4th quarter worth $217,000. Cornerstone Investment Partners LLC purchased a new position in shares of IMAX in the 4th quarter valued at about $248,000. Finally, Savant Capital LLC acquired a new position in shares of IMAX during the fourth quarter worth about $249,000. 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.