Brokerages Set International Money Express, Inc. (NASDAQ:IMXI) Price Target at $19.20

Shares of International Money Express, Inc. (NASDAQ:IMXI) have earned a consensus recommendation of “Buy” from the eight research firms that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $19.20.

Several research firms have recently weighed in on IMXI. BTIG Research reaffirmed a “buy” rating and set a $22.00 price objective on shares of International Money Express in a report on Sunday, April 4th. Zacks Investment Research cut shares of International Money Express from a “buy” rating to a “hold” rating in a research note on Tuesday, May 11th.

A number of hedge funds have recently made changes to their positions in the business. Federated Hermes Inc. boosted its stake in International Money Express by 36.0% in the fourth quarter. Federated Hermes Inc. now owns 2,834,830 shares of the company’s stock valued at $43,997,000 after acquiring an additional 749,925 shares during the last quarter. Royce & Associates LP boosted its stake in International Money Express by 29.8% in the first quarter. Royce & Associates LP now owns 2,823,552 shares of the company’s stock valued at $42,382,000 after acquiring an additional 648,370 shares during the last quarter. BlackRock Inc. boosted its stake in International Money Express by 7.4% in the first quarter. BlackRock Inc. now owns 2,455,367 shares of the company’s stock valued at $36,857,000 after acquiring an additional 168,512 shares during the last quarter. Lord Abbett & CO. LLC boosted its stake in International Money Express by 99.4% in the first quarter. Lord Abbett & CO. LLC now owns 1,077,284 shares of the company’s stock valued at $16,170,000 after acquiring an additional 536,977 shares during the last quarter. Finally, Pembroke Management LTD boosted its stake in International Money Express by 18.8% in the first quarter. Pembroke Management LTD now owns 976,834 shares of the company’s stock valued at $14,662,000 after acquiring an additional 154,531 shares during the last quarter. 78.02% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ IMXI traded down $0.06 during mid-day trading on Thursday, hitting $15.07. 102,160 shares of the stock were exchanged, compared to its average volume of 189,222. The firm has a market cap of $589.89 million, a P/E ratio of 15.60 and a beta of 0.47. The firm’s fifty day moving average price is $14.95. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.45 and a current ratio of 2.45. International Money Express has a twelve month low of $11.21 and a twelve month high of $18.69.

International Money Express (NASDAQ:IMXI) last posted its quarterly earnings data on Wednesday, May 5th. The company reported $0.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.02. The company had revenue of $94.58 million during the quarter, compared to analyst estimates of $88.25 million. International Money Express had a net margin of 9.90% and a return on equity of 48.38%. Analysts forecast that International Money Express will post 1.2 EPS for the current year.

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, Africa, Central and South America, and the Caribbean. 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.

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Analyst Recommendations for International Money Express (NASDAQ:IMXI)

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