Wedbush analyst Alicia Reese reiterated a Buy rating on IMAX (IMAX) today and set a price target of $26.00. The company’s shares closed last Friday at $20.77.
According to TipRanks.com, Reese is ranked #7323 out of 7490 analysts.
Currently, the analyst consensus on IMAX is a Strong Buy with an average price target of $26.13, representing a 23.6% upside. In a report released yesterday, Barrington also reiterated a Buy rating on the stock with a $27.00 price target.
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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 997.8K.
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.
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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 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.
