Shares of Imax Corp (NYSE:IMAX) have been given an average rating of “Hold” by the fourteen ratings firms that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $28.69.
Several equities analysts have weighed in on the stock. Wedbush set a $32.00 price objective on shares of Imax and gave the stock a “buy” rating in a research report on Monday. Piper Jaffray lowered shares of Imax from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $28.00 to $21.00 in a research note on Wednesday, January 10th. Zacks Investment Research raised shares of Imax from a “sell” rating to a “hold” rating in a research note on Tuesday, March 6th. Roth Capital reissued a “neutral” rating and set a $22.50 target price (down previously from $25.00) on shares of Imax in a research note on Wednesday, February 28th. Finally, Barrington Research reissued a “buy” rating and set a $30.00 target price on shares of Imax in a research note on Tuesday, March 20th.
NYSE IMAX traded down $0.08 on Wednesday, hitting $22.02. 94,441 shares of the stock were exchanged, compared to its average volume of 993,733. Imax has a 52-week low of $17.58 and a 52-week high of $33.50. The stock has a market cap of $1,434.34, a price-to-earnings ratio of 122.78, a PEG ratio of 1.65 and a beta of 0.85.
Imax (NYSE:IMAX) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.06). Imax had a return on equity of 3.52% and a net margin of 0.62%. The firm had revenue of $125.55 million for the quarter, compared to analysts’ expectations of $118.80 million. equities research analysts expect that Imax will post 0.59 earnings per share for the current fiscal year.
In related news, insider Robert D. Lister sold 3,518 shares of Imax stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $22.95, for a total value of $80,738.10. Following the completion of the sale, the insider now owns 38,540 shares of the company’s stock, valued at approximately $884,493. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Robert D. Lister sold 11,874 shares of Imax stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $20.40, for a total transaction of $242,229.60. Following the completion of the sale, the insider now directly owns 41,456 shares of the company’s stock, valued at approximately $845,702.40. The disclosure for this sale can be found here. Insiders have sold a total of 24,131 shares of company stock valued at $501,243 in the last three months. Company insiders own 18.90% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Handelsinvest Investeringsforvaltning lifted its stake in shares of Imax by 28.0% in the 4th quarter. Handelsinvest Investeringsforvaltning now owns 150,000 shares of the company’s stock valued at $3,473,000 after purchasing an additional 32,800 shares during the last quarter. Cubist Systematic Strategies LLC lifted its position in Imax by 98.4% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 56,251 shares of the company’s stock worth $1,274,000 after acquiring an additional 27,893 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in Imax during the 4th quarter worth $521,000. JPMorgan Chase & Co. lifted its position in Imax by 2,410.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 149,543 shares of the company’s stock worth $3,454,000 after acquiring an additional 143,587 shares during the last quarter. Finally, Invictus RG acquired a new position in Imax during the 4th quarter worth $213,000. 86.01% of the stock is owned by institutional investors and hedge funds.
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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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