International Money Express (NASDAQ:IMXI) Price Target Cut to $28.00 by Analysts at Monness Crespi & Hardt

International Money Express (NASDAQ:IMXI) had its price objective decreased by Monness Crespi & Hardt from $30.00 to $28.00 in a research report sent to investors on Monday, MarketBeat reports. Monness Crespi & Hardt currently has a buy rating on the stock.

Other research analysts have also issued research reports about the stock. BTIG Research reiterated a “neutral” rating on shares of International Money Express in a research note on Wednesday, August 7th. Oppenheimer initiated coverage on International Money Express in a research note on Tuesday, October 1st. They set a “market perform” rating on the stock. Needham & Company LLC reduced their price target on International Money Express from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, Northland Securities lowered their price objective on International Money Express from $24.00 to $23.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $25.60.

International Money Express Stock Performance

Shares of NASDAQ IMXI opened at $18.50 on Monday. 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 company has a market capitalization of $603.29 million, a P/E ratio of 11.08 and a beta of 0.82. International Money Express has a 12 month low of $16.17 and a 12 month high of $23.28. The stock has a 50 day moving average of $18.03 and a 200-day moving average of $19.40.

International Money Express (NASDAQ:IMXI) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). The company had revenue of $171.53 million for the quarter, compared to the consensus estimate 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 for the quarter was up 1.4% compared to the same quarter last year. During the same period last year, the firm earned $0.46 earnings per share. As a group, equities research analysts predict that International Money Express will post 1.97 EPS for the current year.

Hedge Funds Weigh In On International Money Express

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IMXI. nVerses Capital LLC increased its position in shares of International Money Express by 133.3% in the third quarter. nVerses Capital LLC now owns 2,100 shares of the company’s stock worth $39,000 after purchasing an additional 1,200 shares during the period. CWM LLC increased its holdings in International Money Express by 201.7% in the 2nd quarter. CWM LLC now owns 3,394 shares of the company’s stock valued at $71,000 after buying an additional 2,269 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of International Money Express in the 2nd quarter valued at approximately $91,000. Quarry LP lifted its holdings in shares of 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 acquiring an additional 2,533 shares during the period. Finally, Meeder Asset Management Inc. boosted its position in shares of 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 acquiring an additional 5,621 shares in the last quarter. 86.71% of the stock is owned by institutional investors and hedge funds.

International Money Express Company Profile

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.