Robert W. Baird Lowers IBEX (NASDAQ:IBEX) Price Target to $20.00

IBEX (NASDAQ:IBEX) had its target price cut by research analysts at Robert W. Baird from $21.00 to $20.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price target points to a potential upside of 51.98% from the company’s current price.

Other equities research analysts have also issued research reports about the company. TheStreet lowered IBEX from a “b-” rating to a “c+” rating in a research report on Wednesday, March 6th. Truist Financial cut their target price on IBEX from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, February 9th. Finally, Piper Sandler reissued a “neutral” rating and set a $17.00 target price on shares of IBEX in a research report on Friday, February 9th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, IBEX currently has a consensus rating of “Hold” and a consensus price target of $19.20.

IBEX Stock Performance

Shares of IBEX opened at $13.16 on Friday. The stock has a 50-day simple moving average of $14.92 and a 200-day simple moving average of $16.62. The stock has a market capitalization of $231.22 million, a PE ratio of 8.38 and a beta of 0.62. IBEX has a 1 year low of $11.45 and a 1 year high of $23.52.

IBEX (NASDAQ:IBEX) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.10). The company 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%. Analysts predict that IBEX will post 1.95 EPS for the current year.

Insiders Place Their Bets

In other IBEX news, insider Jeffrey Hays Cox sold 9,383 shares of IBEX stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $16.05, for a total transaction of $150,597.15. Following the transaction, the insider now owns 385,251 shares of the company’s stock, valued at $6,183,278.55. The transaction was disclosed in a filing with the SEC, which is available at this link. 20.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc grew its stake in shares of IBEX by 82.7% in the 4th quarter. Legal & General Group Plc now owns 1,047 shares of the company’s stock valued at $26,000 after purchasing an additional 474 shares during the last quarter. Lazard Asset Management LLC grew its stake in shares of IBEX by 12.6% in the 3rd quarter. Lazard Asset Management LLC now owns 5,201 shares of the company’s stock valued at $80,000 after purchasing an additional 583 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of IBEX by 3.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 20,674 shares of the company’s stock valued at $504,000 after purchasing an additional 636 shares during the last quarter. Amalgamated Bank grew its stake in shares of IBEX by 80.7% in the 4th quarter. Amalgamated Bank now owns 1,635 shares of the company’s stock valued at $41,000 after purchasing an additional 730 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of IBEX by 2.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 26,176 shares of the company’s stock valued at $404,000 after purchasing an additional 748 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.