Monness Crespi & Hardt Cuts International Money Express (NASDAQ:IMXI) Price Target to $28.00

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

A number of other brokerages also recently issued reports on IMXI. Needham & Company LLC cut their target price 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. Northland Securities reduced their target price on shares of International Money Express from $24.00 to $23.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. 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. Finally, BTIG Research reaffirmed a “neutral” rating on shares of International Money Express in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, International Money Express currently has an average rating of “Moderate Buy” and a consensus price target of $25.60.

International Money Express Stock Performance

IMXI opened at $17.49 on Monday. International Money Express has a twelve month low of $16.17 and a twelve month high of $23.28. The firm has a market capitalization of $570.35 million, a PE ratio of 10.47 and a beta of 0.82. 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 firm’s 50-day moving average price is $18.00 and its 200 day moving average price is $19.44.

International Money Express (NASDAQ:IMXI) last issued its earnings results on Wednesday, August 7th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.02). International Money Express had a return on equity of 43.97% and a net margin of 8.78%. The company had revenue of $171.53 million for the quarter, compared to analyst estimates of $174.89 million. During the same quarter in the prior year, the firm earned $0.46 earnings per share. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. As a group, sell-side analysts expect that International Money Express will post 1.97 EPS for the current fiscal year.

Institutional Trading of International Money Express

Institutional investors have recently added to or reduced their stakes in the stock. LSV Asset Management boosted its position in shares of International Money Express by 5.2% during the second quarter. LSV Asset Management now owns 728,977 shares of the company’s stock worth $15,192,000 after buying an additional 36,124 shares during the period. First Eagle Investment Management LLC boosted its holdings in International Money Express by 46.9% during the 2nd quarter. First Eagle Investment Management LLC now owns 477,273 shares of the company’s stock valued at $9,946,000 after acquiring an additional 152,464 shares during the period. Summit Creek Advisors LLC grew its position in International Money Express by 0.7% in the 1st quarter. Summit Creek Advisors LLC now owns 404,764 shares of the company’s stock valued at $9,241,000 after acquiring an additional 2,634 shares in the last quarter. Silvercrest Asset Management Group LLC increased its stake in International Money Express by 4.5% during the first quarter. Silvercrest Asset Management Group LLC now owns 374,133 shares of the company’s stock worth $8,541,000 after purchasing an additional 16,222 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of International Money Express by 12.1% during the first quarter. Jacobs Levy Equity Management Inc. now owns 262,078 shares of the company’s stock worth $5,983,000 after purchasing an additional 28,207 shares in the last quarter. Institutional investors and hedge funds own 86.71% of the company’s stock.

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.