Zacks: International Money Express Inc (IMXI) Receives Consensus Recommendation of “Strong Buy” from Brokerages

Shares of International Money Express Inc (NASDAQ:IMXI) have received an average broker rating score of 1.00 (Strong Buy) from the three analysts that cover the company, Zacks Investment Research reports. Three equities research analysts have rated the stock with a strong buy rating.

Analysts have set a twelve-month consensus price objective of $15.33 for the company and are predicting that the company will post $0.22 EPS for the current quarter, according to Zacks. Zacks has also given International Money Express an industry rank of 22 out of 257 based on the ratings given to its competitors.

A number of research firms have recently weighed in on IMXI. Cantor Fitzgerald began coverage on International Money Express in a research report on Thursday, October 11th. They set an “overweight” rating on the stock. Zacks Investment Research lowered International Money Express from a “buy” rating to a “hold” rating in a research report on Thursday, October 11th. BTIG Research began coverage on International Money Express in a research report on Wednesday, September 12th. They set a “buy” rating and a $16.00 price objective on the stock. Finally, JMP Securities began coverage on International Money Express in a research report on Monday, July 30th. They set an “outperform” rating on the stock.

Shares of International Money Express stock traded down $0.26 during trading hours on Wednesday, reaching $12.25. 52,778 shares of the company were exchanged, compared to its average volume of 50,747. International Money Express has a 1 year low of $9.06 and a 1 year high of $13.38. The company has a quick ratio of 0.12, a current ratio of 1.56 and a debt-to-equity ratio of 2.75.

Large investors have recently bought and sold shares of the stock. King Luther Capital Management Corp purchased a new position in International Money Express in the third quarter valued at $301,000. Renaissance Technologies LLC purchased a new position in International Money Express in the third quarter valued at $316,000. Monashee Investment Management LLC purchased a new position in International Money Express in the third quarter valued at $2,039,000. Finally, Granite Point Capital Management L.P. purchased a new position in International Money Express in the third quarter valued at $4,808,000. 32.15% of the stock is currently owned by hedge funds and other institutional investors.

International Money Express Company Profile

International Money Express, Inc operates as a processor of money transfer services. The company offers wire transfer, money order, and cash checking services. It uses a proprietary financial technology that enables consumers to send money from the United States to 17 countries in Latin America and the Caribbean, including Mexico and Guatemala.

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