In a report released today, Michael Pachter from Wedbush reiterated a Buy rating on IMAX Corp (IMAX), with a price target of $28. The company’s shares closed yesterday at $21.32.
According to TipRanks.com, Pachter is a 3-star analyst with an average return of 1.5% and a 54.5% success rate. Pachter covers the Services sector, focusing on stocks such as Cinemark Holdings Inc, National Cinemedia, and AMC Entertainment.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for IMAX Corp with a $30 average price target, which is a 40.7% upside from current levels. In a report issued on July 16, B.Riley FBR also reiterated a Buy rating on the stock with a $34 price target.
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Based on IMAX Corp’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $8.27 million. In comparison, last year the company had a net profit of $7.63 million.
Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is negative on the stock. Last month, Neil Braun, a Director at IMAX sold 8,000 shares for a total of $169,120.
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.
