International Money Express (NASDAQ:IMXI) had its price target lifted by stock analysts at Cantor Fitzgerald from $16.00 to $17.00 in a report issued on Tuesday, AnalystRatings.com reports. The brokerage currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target would indicate a potential upside of 29.08% from the company’s current price. Cantor Fitzgerald also issued estimates for International Money Express’ FY2019 earnings at $0.72 EPS and FY2020 earnings at $0.83 EPS.
Several other research firms also recently issued reports on IMXI. Zacks Investment Research downgraded shares of International Money Express from a “buy” rating to a “hold” rating in a research note on Saturday, October 26th. KeyCorp assumed coverage on shares of International Money Express in a research note on Friday, October 18th. They set a “sector weight” rating on the stock. ValuEngine downgraded shares of International Money Express from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. BTIG Research reaffirmed a “buy” rating and set a $20.00 price target on shares of International Money Express in a research note on Monday, August 12th. Finally, Northland Securities reaffirmed a “buy” rating and set a $17.00 price target on shares of International Money Express in a research note on Tuesday. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $17.50.
Shares of IMXI traded down $0.17 during mid-day trading on Tuesday, reaching $13.17. 243,300 shares of the company’s stock were exchanged, compared to its average volume of 175,877. The company has a 50-day simple moving average of $14.32 and a two-hundred day simple moving average of $13.83. International Money Express has a 52-week low of $10.31 and a 52-week high of $16.10. The company has a quick ratio of 1.71, a current ratio of 1.57 and a debt-to-equity ratio of 1.80. The company has a market cap of $530.62 million, a price-to-earnings ratio of -263.40 and a beta of -0.20.
A number of institutional investors have recently added to or reduced their stakes in the stock. Huntington National Bank purchased a new stake in International Money Express during the 3rd quarter worth $27,000. Russell Investments Group Ltd. increased its position in shares of International Money Express by 245.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 60,856 shares of the company’s stock worth $837,000 after purchasing an additional 43,256 shares during the last quarter. Emerald Mutual Fund Advisers Trust bought a new stake in shares of International Money Express in the 3rd quarter worth about $1,517,000. Tocqueville Asset Management L.P. bought a new stake in shares of International Money Express in the 3rd quarter worth about $824,000. Finally, Pembroke Management LTD bought a new stake in shares of International Money Express in the 3rd quarter worth about $6,721,000. 39.35% of the stock is currently owned by hedge funds and other institutional investors.
About International Money Express
International Money Express, Inc, through its subsidiary, operates as a money remittance services company in the United States, Latin America, Mexico, Central and South America, and the Caribbean. The company offers remittance services, including a suite of ancillary financial processing solutions and payment services.
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