IMAX Corporation (NYSE:IMAX) Receives $42.70 Average Target Price from Analysts

IMAX Corporation (NYSE:IMAX) has been given an average recommendation of “Moderate Buy” by the eleven brokerages that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $42.70.

IMAX has been the subject of a number of research reports. Barrington Research reaffirmed an “outperform” rating and issued a $42.00 price objective on shares of IMAX in a research note on Monday, January 26th. Rosenblatt Securities lifted their target price on IMAX from $42.00 to $47.00 and gave the company a “buy” rating in a research report on Monday, December 8th. Macquarie Infrastructure boosted their price target on shares of IMAX from $39.00 to $44.00 and gave the stock an “outperform” rating in a research note on Thursday, January 15th. Wedbush increased their price target on shares of IMAX from $39.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, December 8th. Finally, Roth Mkm restated a “buy” rating and issued a $42.00 price objective on shares of IMAX in a report on Monday, December 8th.

IMAX Stock Performance

IMAX stock opened at $36.04 on Friday. The company’s 50 day simple moving average is $36.39 and its 200-day simple moving average is $33.19. IMAX has a 1 year low of $20.48 and a 1 year high of $39.98. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 50.76, a price-to-earnings-growth ratio of 1.78 and a beta of 0.38.

Institutional Trading of IMAX

A number of large investors have recently modified their holdings of the stock. Aurora Investment Counsel boosted its holdings in IMAX by 0.4% in the third quarter. Aurora Investment Counsel now owns 70,235 shares of the company’s stock valued at $2,300,000 after purchasing an additional 308 shares during the period. Jones Financial Companies Lllp raised its position in IMAX by 43.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,041 shares of the company’s stock valued at $34,000 after purchasing an additional 317 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of IMAX by 28.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,489 shares of the company’s stock valued at $55,000 after buying an additional 332 shares during the period. GAMMA Investing LLC boosted its stake in shares of IMAX by 22.3% in the 4th quarter. GAMMA Investing LLC now owns 1,874 shares of the company’s stock valued at $69,000 after buying an additional 342 shares during the period. Finally, Arizona State Retirement System grew its position in shares of IMAX by 2.8% during the third quarter. Arizona State Retirement System now owns 13,517 shares of the company’s stock worth $443,000 after buying an additional 364 shares in the last quarter. Hedge funds and other institutional investors own 93.51% of the company’s stock.

IMAX Company Profile

IMAX Corporation is a global leader in immersive entertainment technologies, specializing in the design, manufacture and distribution of high-resolution cameras, projectors, and proprietary software solutions that enhance both film production and theatrical exhibition. The company licenses its premium large-format system to theatre owners and filmmakers around the world, enabling audiences to experience movies with greater clarity, scale and sound fidelity. IMAX also offers turnkey theatre development services, assisting cinema operators with auditorium design, installation and custom branding to optimize the customer experience.

Founded in 1967 and headquartered in Mississauga, Ontario, IMAX has built a reputation for pioneering film-format innovations, including its patented dual 15-perforation, 70-millimeter projection system.