International Money Express (NASDAQ:IMXI) Stock Rating Upgraded by Zacks Investment Research

International Money Express (NASDAQ:IMXI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday, Zacks.com reports. The brokerage currently has a $17.00 price target on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 16.04% from the company’s current price.

According to Zacks, “International Money Express Inc. offer wire transfer and other processing services to customers through network of sending and paying agents located primarily in the District of Columbia and Puerto Rico as well as throughout Latin America. International Money Express Inc., formerly known as FinTech Acquisition Corp. II, is headquartered in Miami, Florida. “

IMXI has been the subject of several other research reports. TheStreet cut International Money Express from a “b-” rating to a “c” rating in a research note on Wednesday, February 3rd. BTIG Research reissued a “buy” rating and issued a $22.00 price target on shares of International Money Express in a research note on Sunday. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $18.83.

IMXI traded down $0.44 on Wednesday, reaching $14.65. The stock had a trading volume of 86,456 shares, compared to its average volume of 158,953. International Money Express has a fifty-two week low of $7.44 and a fifty-two week high of $18.69. The firm has a 50-day moving average of $15.46 and a 200-day moving average of $15.45. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $559.89 million, a price-to-earnings ratio of 18.78 and a beta of 0.44.

International Money Express (NASDAQ:IMXI) last issued its earnings results on Tuesday, March 9th. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). International Money Express had a return on equity of 52.83% and a net margin of 8.65%. The firm had revenue of $99.30 million during the quarter, compared to analyst estimates of $94.00 million. Sell-side analysts anticipate that International Money Express will post 1 EPS for the current fiscal year.

In related news, CEO Robert Lisy sold 48,900 shares of the company’s stock in a transaction dated Friday, January 8th. The stock was sold at an average price of $16.14, for a total transaction of $789,246.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 32.40% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Federated Hermes Inc. boosted its position in shares of International Money Express by 36.0% during the 4th quarter. Federated Hermes Inc. now owns 2,834,830 shares of the company’s stock valued at $43,997,000 after purchasing an additional 749,925 shares in the last quarter. BlackRock Inc. boosted its position in shares of International Money Express by 7.7% during the 4th quarter. BlackRock Inc. now owns 2,286,855 shares of the company’s stock valued at $35,492,000 after purchasing an additional 163,314 shares in the last quarter. Royce & Associates LP boosted its position in shares of International Money Express by 279.0% during the 4th quarter. Royce & Associates LP now owns 2,175,182 shares of the company’s stock valued at $33,759,000 after purchasing an additional 1,601,269 shares in the last quarter. Pembroke Management LTD boosted its position in shares of International Money Express by 157.7% during the 4th quarter. Pembroke Management LTD now owns 822,303 shares of the company’s stock valued at $12,762,000 after purchasing an additional 503,253 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its position in shares of International Money Express by 10.1% during the 4th quarter. Lord Abbett & CO. LLC now owns 540,307 shares of the company’s stock valued at $8,386,000 after purchasing an additional 49,500 shares in the last quarter. Institutional investors own 65.82% of the company’s stock.

About International Money Express

International Money Express, Inc, through its subsidiary, operates as a money remittance services company in the United States, Latin America, Mexico, Africa, Central and South America, and the Caribbean. 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.

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