International Money Express (NASDAQ:IMXI)‘s stock had its “buy” rating reissued by research analysts at Cantor Fitzgerald in a research note issued on Wednesday. They presently have a $14.00 price objective on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 31.09% from the company’s current price.
The analysts wrote, “: We maintain our Overweight rating and lower our 12-month price target to $14 from $15, due to lower than expected revenue growth, leading to lower EBITDA. Quarterly top-line results were above our expectations. IMXI issued 2019 guidance below consensus. We believe the company’s targeted business model, which we view as a competitive advantage, will help it continue to gain market share in Latin America, the fastest-growing US remittance region. We think Intermex can produce mid-20% revenue growth with steady margins with an upward bias, resulting in significant annual earnings growth and an improving balance sheet.””
Other research analysts also recently issued research reports about the stock. Piper Jaffray Companies began coverage on shares of International Money Express in a research note on Thursday, December 6th. They issued an “overweight” rating on the stock. Zacks Investment Research raised shares of International Money Express from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research report on Wednesday, November 14th. Finally, Craig Hallum began coverage on shares of International Money Express in a research report on Monday, February 4th. They set a “buy” rating on the stock. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $14.67.
A number of hedge funds and other institutional investors have recently bought and sold shares of IMXI. Granite Point Capital Management L.P. purchased a new position in International Money Express during the 3rd quarter valued at about $4,808,000. Monashee Investment Management LLC purchased a new position in International Money Express during the 3rd quarter valued at about $2,039,000. Renaissance Technologies LLC bought a new stake in shares of International Money Express in the 3rd quarter valued at about $316,000. King Luther Capital Management Corp bought a new stake in shares of International Money Express in the 3rd quarter valued at about $301,000. Finally, Vanguard Group Inc. bought a new stake in shares of International Money Express in the 3rd quarter valued at about $923,000. 29.25% of the stock is currently owned by institutional investors and hedge funds.
About International Money Express
International Money Express, Inc operates as a money remittance services company in the United States, Latin America, Mexico, Central and South America, and the Caribbean. The company offers remittance services, including a suite of ancillary financial processing solutions and payment services. It provides sending and paying agents and company-owned stores, as well as online and through Internet-enabled mobile devices.
Featured Story: How is a Moving Average Calculated?
Receive News & Ratings for International Money Express Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Money Express and related companies with MarketBeat.com's FREE daily email newsletter.