In a report issued on April 29, Eric Wold from B.Riley Financial reiterated a Buy rating on IMAX (IMAX – Research Report), with a price target of $28.00. The company’s shares closed last Monday at $21.08.
According to TipRanks.com, Wold is a 5-star analyst with an average return of 28.1% and a 62.3% success rate. Wold covers the Services sector, focusing on stocks such as National Cinemedia, Cinemark Holdings, and AMC Entertainment.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for IMAX with a $26.29 average price target, which is a 25.4% upside from current levels. In a report issued on April 23, Wedbush also upgraded the stock to Buy with a $26.00 price target.
The company has a one-year high of $25.05 and a one-year low of $10.31. Currently, IMAX has an average volume of 991.8K.
Based on the recent corporate insider activity of 62 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of IMAX in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
IMAX Corp. is an entertainment technology company, which engages in the business of motion picture technologies and presentations. It operates through following four business segments: Network Business, Theater Business, New Business, and Other. The Network Business segment represents box office results and which includes the reportable segment of IMAX DMR and contingent rent from the joint revenue sharing arrangements and IMAX systems segments. The Theater Business segment includes the sale and installation of theater systems and maintenance services, primarily related to the IMAX Systems and Theater System Maintenance. The New Business segment involves content licensing and distribution fees associated with the firm’s original content investments, virtual reality initiatives, IMAX Home Entertainment, and other business initiatives that are in the development and/or start-up phase. The Other segment refers to certain IMAX theaters that the company owns and operates, camera rentals and other miscellaneous items. The company was founded by Graeme Ferguson, Roman Kroitor, Robert P. Kerr and William Shaw in 1967 and is headquartered in Mississauga, Canada.