BMO Capital Markets Forecasts Strong Price Appreciation for International Money Express (NASDAQ:IMXI) Stock

International Money Express (NASDAQ:IMXI - Free Report) had its price target raised by BMO Capital Markets from $27.00 to $30.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other analysts also recently issued reports on IMXI. Monness Crespi & Hardt reduced their price target on shares of International Money Express from $30.00 to $28.00 and set a "buy" rating on the stock in a report on Monday, November 4th. Northland Securities upped their price target on shares of International Money Express from $23.00 to $27.00 and gave the company an "outperform" rating in a report on Monday. Needham & Company LLC reduced their price objective on shares of International Money Express from $25.00 to $22.00 and set a "buy" rating on the stock in a research note on Thursday, August 8th. Oppenheimer began coverage on shares of International Money Express in a research note on Tuesday, October 1st. They set a "market perform" rating on the stock. Finally, BTIG Research reissued a "neutral" rating on shares of International Money Express in a research note on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $26.40.

International Money Express Price Performance

Shares of NASDAQ IMXI traded up $0.90 on Monday, hitting $21.60. The company's stock had a trading volume of 578,971 shares, compared to its average volume of 257,730. 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 $704.38 million, a price-to-earnings ratio of 12.07 and a beta of 0.82. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.88 and a quick ratio of 1.88. The stock has a 50 day moving average of $18.08 and a 200-day moving average of $19.36.

Hedge Funds Weigh In On International Money Express

Large investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its stake in International Money Express by 95.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 97,072 shares of the company's stock worth $2,217,000 after purchasing an additional 47,385 shares during the period. First Eagle Investment Management LLC raised its stake in International Money Express by 27.1% during the first quarter. First Eagle Investment Management LLC now owns 324,809 shares of the company's stock worth $7,415,000 after purchasing an additional 69,250 shares during the period. Janney Montgomery Scott LLC purchased a new position in International Money Express during the first quarter worth approximately $562,000. American Century Companies Inc. raised its stake in International Money Express by 44.1% during the second quarter. American Century Companies Inc. now owns 147,260 shares of the company's stock worth $3,069,000 after purchasing an additional 45,068 shares during the period. Finally, Ancora Advisors LLC raised its stake in International Money Express by 6.1% during the first quarter. Ancora Advisors LLC now owns 111,536 shares of the company's stock worth $2,546,000 after purchasing an additional 6,432 shares during the period. Hedge funds and other 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.