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

International Money Express (NASDAQ:IMXI - Free Report) had its target price reduced by Monness Crespi & Hardt from $30.00 to $28.00 in a research note released on Monday, MarketBeat reports. They currently have a buy rating on the stock.

Other equities analysts have also recently issued research reports about the company. Northland Securities reduced their target price on International Money Express from $24.00 to $23.00 and set an "outperform" rating for the company in a report on Thursday, August 8th. Needham & Company LLC decreased their price objective on International Money Express from $25.00 to $22.00 and set a "buy" rating on the stock in a report on Thursday, August 8th. BTIG Research reaffirmed a "neutral" rating on shares of International Money Express in a report on Wednesday, August 7th. Finally, Oppenheimer began coverage on shares of International Money Express in a research report on Tuesday, October 1st. They issued a "market perform" rating for the company. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $25.60.

International Money Express Price Performance

Shares of IMXI stock traded down $0.05 during trading hours on Monday, hitting $17.49. 146,906 shares of the company's stock were exchanged, compared to its average volume of 247,904. International Money Express has a fifty-two week low of $16.17 and a fifty-two week high of $23.28. The firm has a market cap of $570.35 million, a P/E ratio of 10.52 and a beta of 0.82. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 1.57. The firm has a 50 day moving average of $18.00 and a two-hundred day moving average of $19.47.

International Money Express (NASDAQ:IMXI - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.02). International Money Express had a net margin of 8.78% and a return on equity of 43.97%. The company had revenue of $171.53 million for the quarter, compared to analysts' expectations of $174.89 million. During the same period in the previous year, the business earned $0.46 earnings per share. The business's revenue for the quarter was up 1.4% on a year-over-year basis. Sell-side analysts forecast that International Money Express will post 1.97 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Rhumbline Advisers raised its position in International Money Express by 1.0% in the second quarter. Rhumbline Advisers now owns 45,877 shares of the company's stock valued at $956,000 after purchasing an additional 452 shares during the period. nVerses Capital LLC raised its holdings in International Money Express by 133.3% in the 3rd quarter. nVerses Capital LLC now owns 2,100 shares of the company's stock valued at $39,000 after buying an additional 1,200 shares during the period. Foyston Gordon & Payne Inc raised its holdings in International Money Express by 8.2% in the 2nd quarter. Foyston Gordon & Payne Inc now owns 21,798 shares of the company's stock valued at $454,000 after buying an additional 1,658 shares during the period. Lazard Asset Management LLC boosted its stake in International Money Express by 41.5% during the first quarter. Lazard Asset Management LLC now owns 6,319 shares of the company's stock worth $143,000 after buying an additional 1,853 shares during the period. Finally, Riverwater Partners LLC boosted its stake in International Money Express by 14.9% during the second quarter. Riverwater Partners LLC now owns 14,833 shares of the company's stock worth $309,000 after buying an additional 1,926 shares during the period. 86.71% of the stock is currently owned by institutional investors and hedge funds.

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.