IMAX (NYSE:IMAX) Given New $27.00 Price Target at JPMorgan Chase & Co.

IMAX (NYSE:IMAX) had its price target boosted by JPMorgan Chase & Co. from $25.00 to $27.00 in a report published on Friday,Benzinga reports. They currently have a neutral rating on the stock.

Several other equities research analysts also recently commented on IMAX. Rosenblatt Securities boosted their target price on IMAX from $28.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday. Roth Mkm boosted their price target on IMAX from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Wells Fargo & Company boosted their price target on IMAX from $26.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday. Barrington Research boosted their price target on IMAX from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Benchmark restated a “buy” rating and issued a $30.00 price target on shares of IMAX in a research note on Thursday. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $30.67.

IMAX Trading Down 3.4 %

IMAX stock opened at $26.03 on Friday. The business’s fifty day simple moving average is $24.65 and its two-hundred day simple moving average is $23.00. IMAX has a 12 month low of $14.94 and a 12 month high of $27.77. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 53.11, a price-to-earnings-growth ratio of 1.50 and a beta of 1.22.

IMAX (NYSE:IMAX) last released its earnings results on Wednesday, February 19th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.14). IMAX had a return on equity of 8.79% and a net margin of 7.40%. The company had revenue of $92.67 million during the quarter, compared to the consensus estimate of $104.08 million. On average, equities research analysts predict that IMAX will post 0.91 EPS for the current year.

Insider Activity at IMAX

In other IMAX news, CFO Natasha Fernandes sold 2,957 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $25.52, for a total transaction of $75,462.64. Following the completion of the sale, the chief financial officer now owns 14,883 shares of the company’s stock, valued at approximately $379,814.16. The trade was a 16.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Robert D. Lister sold 55,910 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $25.50, for a total value of $1,425,705.00. Following the sale, the executive vice president now directly owns 138,889 shares of the company’s stock, valued at $3,541,669.50. This represents a 28.70 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,176 shares of company stock worth $1,662,110. 24.08% of the stock is owned by insiders.

Institutional Trading of IMAX

Several hedge funds have recently bought and sold shares of the stock. Janney Montgomery Scott LLC grew its holdings in IMAX by 1.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 29,176 shares of the company’s stock valued at $747,000 after purchasing an additional 533 shares during the period. Blue Trust Inc. grew its holdings in IMAX by 138.5% during the fourth quarter. Blue Trust Inc. now owns 966 shares of the company’s stock valued at $25,000 after purchasing an additional 561 shares during the period. MetLife Investment Management LLC grew its holdings in IMAX by 3.4% during the fourth quarter. MetLife Investment Management LLC now owns 25,918 shares of the company’s stock valued at $664,000 after purchasing an additional 848 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in IMAX by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,395 shares of the company’s stock valued at $625,000 after purchasing an additional 905 shares during the period. Finally, US Bancorp DE grew its holdings in IMAX by 23.4% during the third quarter. US Bancorp DE now owns 7,656 shares of the company’s stock valued at $157,000 after purchasing an additional 1,452 shares during the period. Institutional investors own 93.51% of the company’s stock.

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.