IMAX’s (IMAX) “Outperform” Rating Reaffirmed at Wedbush

IMAX (NYSE:IMAX)‘s stock had its “outperform” rating reissued by research analysts at Wedbush in a report released on Wednesday,RTT News reports.

A number of other equities analysts have also recently commented on the stock. Barrington Research reaffirmed an “outperform” rating and issued a $24.00 target price on shares of IMAX in a report on Thursday, October 31st. Roth Mkm upped their target price on shares of IMAX from $27.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, October 31st. StockNews.com downgraded shares of IMAX from a “buy” rating to a “hold” rating in a research note on Thursday, November 21st. JPMorgan Chase & Co. boosted their price target on IMAX from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $28.00 target price on shares of IMAX in a research note on Thursday, October 31st. 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $24.22.

IMAX Stock Performance

IMAX stock traded up $0.79 during midday trading on Wednesday, reaching $26.03. 1,270,358 shares of the company were exchanged, compared to its average volume of 760,875. The company has a market cap of $1.37 billion, a price-to-earnings ratio of 59.16, a price-to-earnings-growth ratio of 1.61 and a beta of 1.22. IMAX has a 1-year low of $13.20 and a 1-year high of $26.47. The stock’s 50-day simple moving average is $21.96 and its 200 day simple moving average is $19.65.

IMAX (NYSE:IMAX) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.23 by $0.12. IMAX had a net margin of 6.74% and a return on equity of 7.53%. The firm had revenue of $91.50 million for the quarter, compared to analyst estimates of $93.71 million. During the same period last year, the business earned $0.27 EPS. IMAX’s revenue for the quarter was down 11.9% compared to the same quarter last year. On average, research analysts anticipate that IMAX will post 0.78 earnings per share for the current year.

Hedge Funds Weigh In On IMAX

Hedge funds and other institutional investors have recently bought and sold shares of the company. Huntington National Bank acquired a new position in IMAX during the third quarter worth about $34,000. Headlands Technologies LLC purchased a new position in shares of IMAX during the 2nd quarter worth approximately $35,000. Quarry LP raised its position in shares of IMAX by 78,333.3% during the 3rd quarter. Quarry LP now owns 2,353 shares of the company’s stock worth $48,000 after purchasing an additional 2,350 shares during the last quarter. nVerses Capital LLC purchased a new stake in IMAX in the 3rd quarter valued at approximately $70,000. Finally, Summit Securities Group LLC acquired a new stake in IMAX during the 2nd quarter valued at $80,000. 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.