In a report released today, Eric Wold from B.Riley FBR reiterated a Buy rating on IMAX Corp (NYSE: IMAX). The company’s shares closed yesterday at $24.34.
“We are revisiting IMAX Corporation (IMAX) in order to highlight, what we believe to be, a significant near-term positive inflection for both the investment thesis and shares heading into 2019—we recommend that investors continue to build positions in IMAX ahead of that becoming more widely understood. Although we made a push around IMAX in our 9/10 note, we came away from a recent meeting with management and a review of final 3Q18 box office data increasingly positive around underlying improvements with China box office trends, the benefits of an evolving strategy for new system installs in China as well as the elimination of lingering margin headwinds from shuttered business initiatives.”
According to TipRanks.com, Wold is a 5-star analyst with an average return of 11.8% and a 59.6% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, National Cinemedia, and AMC Entertainment.
Currently, the analyst consensus on IMAX Corp is a Strong Buy with an average price target of $31.
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The company has a one-year high of $27.60 and a one-year low of $18.98. Currently, IMAX Corp has an average volume of 611.5K.
Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is neutral on the stock.
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IMAX Corp. is an entertainment technology company, which engages in the business of motion picture technologies and presentations. It operates through following business segments: Network Business, Theater Business, New Business, and Other.