IMAX (NYSE:IMAX) Given New $39.00 Price Target at Wedbush

IMAX (NYSE:IMAX) had its price target boosted by Wedbush from $35.00 to $39.00 in a research note released on Monday, Marketbeat.com reports. Wedbush currently has an outperform rating on the stock. Wedbush also issued estimates for IMAX’s Q1 2026 earnings at $0.20 EPS and Q4 2026 earnings at $0.53 EPS.

A number of other equities research analysts also recently commented on the company. Wall Street Zen downgraded IMAX from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 22nd. Benchmark lifted their price objective on IMAX from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Barrington Research lifted their price objective on IMAX from $32.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, September 19th. Roth Capital reaffirmed a “buy” rating and issued a $36.00 price objective on shares of IMAX in a research report on Wednesday, July 9th. Finally, Wells Fargo & Company lifted their price objective on IMAX from $30.00 to $34.00 and gave the company an “overweight” rating in a research report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $33.70.

IMAX Stock Performance

IMAX stock opened at $32.31 on Monday. The stock has a fifty day moving average of $28.28 and a two-hundred day moving average of $26.79. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of 53.85, a PEG ratio of 2.21 and a beta of 0.68. IMAX has a fifty-two week low of $19.19 and a fifty-two week high of $33.06.

IMAX (NYSE:IMAX) last released its quarterly earnings results on Thursday, July 24th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.07. The company had revenue of $91.68 million during the quarter, compared to the consensus estimate of $93.04 million. IMAX had a return on equity of 8.62% and a net margin of 9.04%.IMAX’s revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 earnings per share. On average, analysts forecast that IMAX will post 0.91 EPS for the current fiscal year.

IMAX declared that its Board of Directors has authorized a share buyback plan on Thursday, June 12th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 6.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, insider Kenneth Ian Weissman sold 15,072 shares of IMAX stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $25.65, for a total value of $386,596.80. Following the transaction, the insider owned 26,133 shares in the company, valued at approximately $670,311.45. This trade represents a 36.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert D. Lister sold 20,000 shares of IMAX stock in a transaction on Monday, September 15th. The shares were sold at an average price of $32.80, for a total value of $656,000.00. Following the completion of the transaction, the vice president owned 161,421 shares in the company, valued at $5,294,608.80. The trade was a 11.02% decrease in their position. The disclosure for this sale can be found here. 23.18% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Orbis Allan Gray Ltd boosted its holdings in IMAX by 31.7% in the second quarter. Orbis Allan Gray Ltd now owns 5,113,033 shares of the company’s stock valued at $142,960,000 after acquiring an additional 1,230,267 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of IMAX by 8.3% during the first quarter. Ameriprise Financial Inc. now owns 1,974,068 shares of the company’s stock worth $52,019,000 after purchasing an additional 150,552 shares in the last quarter. Nantahala Capital Management LLC lifted its stake in shares of IMAX by 24.9% during the second quarter. Nantahala Capital Management LLC now owns 1,133,993 shares of the company’s stock worth $31,706,000 after purchasing an additional 225,742 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of IMAX by 10.9% during the second quarter. JPMorgan Chase & Co. now owns 1,029,602 shares of the company’s stock worth $28,788,000 after purchasing an additional 101,048 shares in the last quarter. Finally, Primecap Management Co. CA lifted its stake in shares of IMAX by 1.3% during the second quarter. Primecap Management Co. CA now owns 751,602 shares of the company’s stock worth $21,015,000 after purchasing an additional 9,902 shares in the last quarter. Institutional investors and hedge funds own 93.51% of the company’s stock.

About IMAX

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 that provides end-to-end technology across streaming content and entertainment devices at home; and SSIMWAVE, an AI-driven video quality solutions for media and entertainment companies.