International Money Express, Inc. (NASDAQ:IMXI) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

International Money Express, Inc. (NASDAQ:IMXI) has earned an average rating of “Moderate Buy” from the six brokerages that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $27.00.

IMXI has been the subject of several analyst reports. BMO Capital Markets increased their target price on shares of International Money Express from $27.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Northland Securities increased their price objective on shares of International Money Express from $23.00 to $27.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Monness Crespi & Hardt downgraded International Money Express from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Finally, Needham & Company LLC increased their price target on International Money Express from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th.

International Money Express Trading Down 1.8 %

Shares of International Money Express stock opened at $18.14 on Friday. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 1.12. The stock has a fifty day simple moving average of $20.49 and a 200 day simple moving average of $19.40. International Money Express has a 12-month low of $16.17 and a 12-month high of $23.28. The company has a market capitalization of $564.14 million, a P/E ratio of 10.13 and a beta of 0.87.

Institutional Investors Weigh In On International Money Express

A number of hedge funds have recently modified their holdings of the stock. New South Capital Management Inc. grew its holdings in International Money Express by 22.7% during the fourth quarter. New South Capital Management Inc. now owns 1,132,107 shares of the company’s stock valued at $23,582,000 after purchasing an additional 209,711 shares during the period. Proficio Capital Partners LLC bought a new position in shares of International Money Express during the 4th quarter worth $332,000. Bank of New York Mellon Corp increased its holdings in International Money Express by 11.1% in the 4th quarter. Bank of New York Mellon Corp now owns 114,030 shares of the company’s stock worth $2,375,000 after acquiring an additional 11,388 shares during the last quarter. Investment Management Associates Inc. ADV increased its holdings in International Money Express by 1.9% in the 4th quarter. Investment Management Associates Inc. ADV now owns 899,232 shares of the company’s stock worth $18,731,000 after acquiring an additional 16,530 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in International Money Express by 11.0% in the 4th quarter. Principal Financial Group Inc. now owns 38,011 shares of the company’s stock valued at $792,000 after acquiring an additional 3,753 shares during the period. Institutional investors own 86.71% of the company’s stock.

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.