IMAX Corp (IMAX) Received its Third Buy in a Row

By Austin Angelo

After B.Riley FBR and Wedbush gave IMAX Corp (NYSE: IMAX) a Buy rating last month, the company received another Buy, this time from Barrington. Analyst James Goss maintained a Buy rating on IMAX Corp today and set a price target of $33. The company’s shares opened today at $21.48.

Goss commented:

“We are encouraged by new opportunities in the core business line such as greater flexibility in screen usage such as multiple titles across the IMAX platform and split screenings by daypart, reduced screening periods for individual films within a larger number of titles and experimentation with reseating options. Attention to the cost structure is also important. Management has deemphasized its new investments, though is continuing to test virtual reality facilities in a limited number of locations. The paring back of outlays on new business to focus on core opportunities is a plus. Company Description 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.”

According to TipRanks.com, Goss is a 5-star analyst with an average return of 14.2% and a 69.2% success rate. Goss covers the Services sector, focusing on stocks such as Lions Gate Ent Corp Cl A, Sirius XM Holdings Inc, and iPic Entertainment Inc.

IMAX Corp has an analyst consensus of Strong Buy, with a price target consensus of $32, representing a 49.0% upside. In a report issued on October 15, Wedbush also maintained a Buy rating on the stock with a $29 price target.

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IMAX Corp’s market cap is currently $1.31B and has a P/E ratio of 66.79. The company has a Price to Book ratio of 2.49.

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.