Wedbush set a $30.00 price target on Imax (NYSE:IMAX) in a report published on Monday, January 8th. The firm currently has a buy rating on the stock. Wedbush also issued estimates for Imax’s Q4 2017 earnings at $0.29 EPS, FY2017 earnings at $0.25 EPS, Q1 2018 earnings at ($0.02) EPS, Q3 2018 earnings at $0.16 EPS, Q4 2018 earnings at $0.25 EPS and FY2018 earnings at $0.65 EPS.
IMAX has been the topic of several other research reports. Zacks Investment Research lowered Imax from a hold rating to a sell rating in a research note on Wednesday, October 11th. Credit Suisse Group dropped their price target on Imax from $26.00 to $25.00 and set a neutral rating on the stock in a research note on Thursday, September 28th. BidaskClub downgraded Imax from a hold rating to a sell rating in a report on Thursday, October 12th. Barrington Research raised Imax from a market perform rating to an outperform rating and set a $32.00 price target for the company in a report on Monday, October 30th. Finally, B. Riley set a $35.00 price target on Imax and gave the company a buy rating in a report on Thursday, October 19th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. Imax has a consensus rating of Hold and a consensus target price of $29.30.
Shares of Imax (IMAX) opened at $19.85 on Monday. Imax has a 52-week low of $17.58 and a 52-week high of $34.60. The firm has a market capitalization of $1,246.53, a price-to-earnings ratio of 220.58, a PEG ratio of 1.13 and a beta of 1.13.
In other news, insider Mark Welton sold 8,985 shares of the stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $25.81, for a total value of $231,902.85. Following the transaction, the insider now owns 16,331 shares in the company, valued at approximately $421,503.11. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Robert D. Lister sold 3,528 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $23.97, for a total value of $84,566.16. Following the transaction, the insider now owns 35,594 shares in the company, valued at approximately $853,188.18. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,050 shares of company stock worth $425,276. 18.90% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Crow Point Partners LLC acquired a new position in Imax during the fourth quarter worth $103,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Imax by 13.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,522 shares of the company’s stock valued at $181,000 after purchasing an additional 748 shares during the period. BNP Paribas Arbitrage SA grew its position in shares of Imax by 1,151.0% in the second quarter. BNP Paribas Arbitrage SA now owns 6,818 shares of the company’s stock valued at $150,000 after purchasing an additional 6,273 shares during the period. Seven Eight Capital LP grew its position in shares of Imax by 1,115.7% in the second quarter. Seven Eight Capital LP now owns 7,294 shares of the company’s stock valued at $160,000 after purchasing an additional 6,694 shares during the period. Finally, Formula Growth Ltd. purchased a new stake in shares of Imax in the third quarter valued at $222,000. 83.04% of the stock is owned by hedge funds and other institutional investors.
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Imax Company Profile
IMAX Corporation is an entertainment technology company. The Company operates through seven segments: IMAX systems; theater system maintenance; joint revenue sharing arrangements; film production and IMAX DMR; film distribution; film post-production, and other. The IMAX systems segment designs, manufactures, sells or leases IMAX theater projection system equipment.
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