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IMAX (NYSE:IMAX – Get Free Report) has raised its price target by investment analysts at Rosenblatt Securities from $25.00 to $28.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Rosenblatt Securities’ price target points to a potential upside of 39.37% from the stock’s current price.

Several other research firms also recently published reports on IMAX. B. Riley increased their price target on shares of IMAX from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, July 8th. Wedbush increased their price target on IMAX from $22.00 to $24.00 and gave the company an “outperform” rating in a research note on Friday. Seaport Res Ptn raised IMAX to a “strong buy” rating in a research note on Wednesday. Macquarie increased their price target on IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Benchmark reiterated a “buy” rating and gave the company a $22.00 price target on shares of IMAX in a research note on Thursday, June 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has given the company a strong buy rating. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.56.

Check out our latest research report on IMAX

IMAX Stock Performance

IMAX shares opened at $20.09 on Friday. IMAX has a 52-week low of $13.20 and a 52-week high of $20.70. The company has a 50-day moving average price of $16.75 and a 200-day moving average price of $16.14. The company has a market cap of $1.06 billion, a price-to-earnings ratio of 41.86, a PEG ratio of 1.69 and a beta of 1.26.

IMAX (NYSE:IMAX – Get Free Report) last released its quarterly earnings results on Thursday, July 25. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.11. IMAX had a net margin of 5.97% and a return on equity of 7.77%. The company had revenue of $88.96 million during the quarter, compared to analyst estimates of $74.52 million. During the same quarter last year, the company earned $0.17 EPS. The company’s revenue was down 9.2% from the same quarter last year. As a group, equities research analysts predict that IMAX will post 0.57 EPS for the current fiscal year.

Institutional investors weigh IMAX

Hedge funds and other institutional investors have recently made changes to their holdings. GSA Capital Partners LLP purchased a new stake in shares of IMAX during the first quarter worth approximately $1,070,000. Acadian Asset Management LLC increased its holdings in shares of IMAX by 178.7% during the first quarter. Acadian Asset Management LLC now owns 490,917 shares of the company’s stock worth $7,934,000 after purchasing an additional 314,742 shares in the last quarter. Kodai Capital Management LP purchased a new position in shares of IMAX during the fourth quarter worth approximately $5,287,000. Principal Financial Group Inc. purchased a new position in shares of IMAX during the first quarter worth approximately $871,000. Finally, Victory Capital Management Inc. increased its holdings in shares of IMAX by 13.0% during the fourth quarter. Victory Capital Management Inc. now owns 825,319 shares of the company’s stock, worth $12,396,000, after purchasing an additional 95,182 shares in the last quarter. 93.51% of the shares are currently held by institutional investors.

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, which provides end-to-end technology for streaming content and home entertainment devices; and SSIMWAVE, an AI-driven video quality solution for media and entertainment companies.

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