Wedbush Reaffirms "Outperform" Rating for IMAX (NYSE:IMAX)

Market Beat
2025.02.21 17:17
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Wedbush has reaffirmed an "outperform" rating for IMAX (NYSE:IMAX) with a price target of $32.00, indicating a potential upside of 21.79%. Other analysts, including Wells Fargo and Barrington Research, have also raised their price targets to $32.00. IMAX's stock recently traded at $26.28, with a market cap of $1.38 billion. The company reported earnings of $0.17 per share, missing estimates. Insider trading activity has seen executives selling shares, while institutional investors have increased their stakes in the company.

IMAX (NYSE:IMAX - Get Free Report)'s stock had its "outperform" rating restated by Wedbush in a report released on Thursday,RTT News reports. They presently have a $32.00 price target on the stock. Wedbush's target price would indicate a potential upside of 21.79% from the stock's previous close.

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Several other research analysts also recently commented on the stock. Wells Fargo & Company lifted their target price on shares of IMAX from $26.00 to $32.00 and gave the stock an "overweight" rating in a research note on Thursday. Barrington Research boosted their target price on shares of IMAX from $30.00 to $32.00 and gave the company an "outperform" rating in a report on Thursday. StockNews.com cut shares of IMAX from a "buy" rating to a "hold" rating in a report on Thursday, February 13th. Benchmark reiterated a "buy" rating and issued a $30.00 price target on shares of IMAX in a research note on Thursday. Finally, Roth Mkm upped their price target on shares of IMAX from $27.00 to $28.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $30.00.

Get Our Latest Research Report on IMAX

IMAX Stock Performance

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IMAX stock traded down $0.95 during mid-day trading on Thursday, hitting $26.28. 446,779 shares of the company traded hands, compared to its average volume of 682,804. IMAX has a one year low of $14.94 and a one year high of $27.38. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of 59.72, a price-to-earnings-growth ratio of 1.49 and a beta of 1.22. The stock has a fifty day moving average price of $24.63 and a 200-day moving average price of $22.93.

IMAX (NYSE:IMAX - Get Free Report) last announced its earnings results on Wednesday, February 19th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.14). The company had revenue of $92.67 million for the quarter, compared to the consensus estimate of $104.08 million. IMAX had a net margin of 6.74% and a return on equity of 7.53%. Sell-side analysts predict that IMAX will post 0.64 EPS for the current year.

Insider Activity

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

Institutional Investors Weigh In On IMAX

A number of institutional investors have recently added to or reduced their stakes in the stock. Mizuho Markets Americas LLC boosted its holdings in IMAX by 47.5% in the third quarter. Mizuho Markets Americas LLC now owns 387,689 shares of the company's stock worth $7,952,000 after acquiring an additional 124,811 shares in the last quarter. Royce & Associates LP lifted its holdings in shares of IMAX by 3.1% during the third quarter. Royce & Associates LP now owns 1,822,616 shares of the company's stock worth $37,382,000 after purchasing an additional 54,850 shares during the period. Quantbot Technologies LP purchased a new position in IMAX during the third quarter valued at approximately $777,000. Lord Abbett & CO. LLC purchased a new position in IMAX during the third quarter valued at approximately $6,322,000. Finally, SG Americas Securities LLC purchased a new stake in shares of IMAX in the fourth quarter valued at approximately $333,000. Institutional investors own 93.51% of the company's stock.

About IMAX

(Get Free Report)

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.

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