International Money Express (NASDAQ:IMXI) Upgraded by Zacks Investment Research to “Buy”

International Money Express (NASDAQ:IMXI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, Zacks.com reports. The firm currently has a $16.00 price objective on the stock. Zacks Investment Research‘s price target indicates a potential upside of 21.49% 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. “

A number of other equities research analysts have also recently issued reports on the stock. KeyCorp assumed coverage on shares of International Money Express in a research report on Friday, October 18th. They issued a “sector weight” rating for the company. ValuEngine raised shares of International Money Express from a “sell” rating to a “hold” rating in a research report on Wednesday. Northland Securities reissued a “buy” rating and issued a $17.00 target price on shares of International Money Express in a research report on Tuesday. BTIG Research reissued a “buy” rating and issued a $20.00 target price on shares of International Money Express in a research report on Monday, August 12th. Finally, Cantor Fitzgerald upped their price objective on shares of International Money Express from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Tuesday. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. International Money Express has an average rating of “Buy” and an average price target of $17.50.

Shares of International Money Express stock opened at $13.17 on Thursday. The firm has a 50-day moving average of $14.32 and a 200-day moving average of $13.83. The stock has a market cap of $530.62 million, a PE ratio of 19.40 and a beta of -0.20. International Money Express has a 52-week low of $10.31 and a 52-week high of $16.10. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.71 and a current ratio of 1.57.

In related news, insider Solomon Cohen sold 16,508 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $12.75, for a total transaction of $210,477.00. Also, Director John Rincon sold 100,000 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $11.96, for a total transaction of $1,196,000.00. Insiders have sold 124,508 shares of company stock valued at $1,502,157 in the last ninety days. 43.10% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of IMXI. Hennessy Advisors Inc. bought a new stake in International Money Express during the second quarter worth about $494,000. Strs Ohio bought a new stake in International Money Express during the second quarter worth about $49,000. Anchor Capital Advisors LLC bought a new stake in International Money Express during the second quarter worth about $1,273,000. Wells Fargo & Company MN lifted its position in International Money Express by 12.2% during the second quarter. Wells Fargo & Company MN now owns 13,640 shares of the company’s stock worth $192,000 after purchasing an additional 1,484 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in International Money Express during the second quarter worth about $677,000. 39.35% of the stock is owned by institutional investors and hedge funds.

International Money Express Company Profile

International Money Express, Inc, through its subsidiary, 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.

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Analyst Recommendations for International Money Express (NASDAQ:IMXI)

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