IBEX Limited (NASDAQ:IBEX) Receives $19.80 Average Price Target from Brokerages

Shares of IBEX Limited (NASDAQ:IBEX) have earned an average recommendation of “Hold” from the five ratings firms that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $19.80.

Several equities research analysts recently commented on the stock. Truist Financial reduced their price target on shares of IBEX from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, February 9th. TheStreet downgraded shares of IBEX from a “b-” rating to a “c+” rating in a research report on Wednesday, March 6th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $17.00 target price on shares of IBEX in a research report on Friday, February 9th.

IBEX Price Performance

IBEX stock opened at $14.51 on Friday. IBEX has a 12 month low of $11.45 and a 12 month high of $27.54. The firm has a market cap of $254.94 million, a PE ratio of 9.24 and a beta of 0.63. The firm has a 50 day simple moving average of $16.17 and a 200 day simple moving average of $16.80.

IBEX (NASDAQ:IBEX) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.10). The firm had revenue of $132.63 million during the quarter, compared to analysts’ expectations of $137.38 million. IBEX had a net margin of 5.79% and a return on equity of 20.10%. As a group, sell-side analysts expect that IBEX will post 1.82 earnings per share for the current year.

Insider Transactions at IBEX

In other news, insider Jeffrey Hays Cox sold 7,331 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $16.06, for a total transaction of $117,735.86. Following the transaction, the insider now owns 402,920 shares in the company, valued at approximately $6,470,895.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 20.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of IBEX. Sei Investments Co. grew its stake in IBEX by 15.6% in the 1st quarter. Sei Investments Co. now owns 108,091 shares of the company’s stock valued at $1,723,000 after buying an additional 14,605 shares during the last quarter. Vanguard Group Inc. grew its stake in IBEX by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 28,889 shares of the company’s stock valued at $461,000 after buying an additional 904 shares during the last quarter. State Street Corp grew its stake in IBEX by 18.2% in the 1st quarter. State Street Corp now owns 76,699 shares of the company’s stock valued at $1,223,000 after buying an additional 11,793 shares during the last quarter. Wellington Management Group LLP grew its stake in IBEX by 5.0% in the 1st quarter. Wellington Management Group LLP now owns 385,755 shares of the company’s stock valued at $6,149,000 after buying an additional 18,455 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in IBEX by 40.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 14,728 shares of the company’s stock valued at $273,000 after buying an additional 4,256 shares during the last quarter. Institutional investors and hedge funds own 81.24% of the company’s stock.

About IBEX

IBEX Limited provides end-to-end technology-enabled customer lifecycle experience solutions in the United States and internationally. The company products and services portfolio includes ibex Connect, that offers customer service, technical support, revenue generation, and other revenue generation outsourced back-office services through the CX model, which integrates voice, email, chat, SMS, social media, and other communication applications; ibex Digital, a customer acquisition solution that comprises digital marketing, e-commerce technology, and platform solutions; and ibex CX, a customer experience solution, which provides a suite of proprietary software tools to measure, monitor, and manage its clients' customer experience.