Analysts Set International Money Express, Inc. (NASDAQ:IMXI) Target Price at $25.40

Shares of International Money Express, Inc. (NASDAQ:IMXI) have been given a consensus rating of “Moderate Buy” by the six brokerages that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $25.40.

Several brokerages recently commented on IMXI. Oppenheimer assumed coverage on shares of International Money Express in a research note on Tuesday, October 1st. They issued a “market perform” rating for the company. BTIG Research reiterated a “neutral” rating on shares of International Money Express in a research report on Wednesday, August 7th. Needham & Company LLC lowered their price target on International Money Express from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, Northland Securities dropped their price objective on International Money Express from $24.00 to $23.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. nVerses Capital LLC grew its holdings in International Money Express by 133.3% during the 3rd quarter. nVerses Capital LLC now owns 2,100 shares of the company’s stock valued at $39,000 after buying an additional 1,200 shares during the last quarter. CWM LLC lifted its position in shares of International Money Express by 201.7% in the second quarter. CWM LLC now owns 3,394 shares of the company’s stock valued at $71,000 after acquiring an additional 2,269 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of International Money Express during the second quarter valued at $91,000. Quarry LP increased its position in International Money Express by 113.7% during the 2nd quarter. Quarry LP now owns 4,760 shares of the company’s stock worth $99,000 after purchasing an additional 2,533 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its position in International Money Express by 1,277.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 6,061 shares of the company’s stock worth $126,000 after purchasing an additional 5,621 shares in the last quarter. 86.71% of the stock is owned by hedge funds and other institutional investors.

International Money Express Stock Performance

Shares of IMXI stock opened at $17.54 on Thursday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 1.57. The stock has a 50 day simple moving average of $18.00 and a 200-day simple moving average of $19.49. The company has a market cap of $571.94 million, a price-to-earnings ratio of 10.50 and a beta of 0.82. International Money Express has a 12-month low of $15.98 and a 12-month high of $23.28.

International Money Express (NASDAQ:IMXI) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.02). The business had revenue of $171.53 million during the quarter, compared to analysts’ expectations of $174.89 million. International Money Express had a return on equity of 43.97% and a net margin of 8.78%. The company’s revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.46 EPS. On average, equities analysts forecast that International Money Express will post 1.97 EPS for the current year.

About International Money Express

International Money Express, Inc, together with its subsidiaries, operates as an omnichannel money remittance services company in the United States, Latin America, Mexico, Central and South America, the Caribbean, Africa, and Asia. The company offers remittance services, which include a suite of ancillary financial processing solutions and payment services; and online payment options, pre-paid debit cards, and direct deposit payroll cards.