Robert W. Baird Cuts IBEX (NASDAQ:IBEX) Price Target to $20.00

IBEX (NASDAQ:IBEX) had its target price lowered by Robert W. Baird from $21.00 to $20.00 in a report released on Friday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

IBEX has been the topic of a number of other research reports. Piper Sandler reissued a neutral rating and set a $17.00 price objective on shares of IBEX in a research note on Friday, February 9th. Truist Financial dropped their price objective on shares of IBEX from $25.00 to $22.00 and set a buy rating for the company in a report on Friday, February 9th. Finally, TheStreet cut shares of IBEX from a b- rating to a c+ rating in a research report on Wednesday, March 6th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $19.20.

IBEX Stock Up 1.5 %

IBEX stock opened at $13.36 on Friday. The company has a fifty day simple moving average of $14.87 and a 200-day simple moving average of $16.62. The firm has a market capitalization of $234.74 million, a price-to-earnings ratio of 8.51 and a beta of 0.62. IBEX has a 52-week low of $11.45 and a 52-week high of $23.49.

IBEX (NASDAQ:IBEX) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.10). IBEX had a net margin of 5.79% and a return on equity of 20.10%. The business had revenue of $132.63 million for the quarter, compared to analysts’ expectations of $137.38 million. On average, research analysts anticipate that IBEX will post 1.95 EPS for the current fiscal year.

Insider Activity at IBEX

In other IBEX news, insider Jeffrey Hays Cox sold 7,331 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $16.06, for a total transaction of $117,735.86. Following the completion of the transaction, the insider now owns 402,920 shares of the company’s stock, valued at $6,470,895.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. 20.80% of the stock is owned by insiders.

Hedge Funds Weigh In On IBEX

Several large investors have recently made changes to their positions in IBEX. Legal & General Group Plc raised its position in IBEX by 82.7% in the fourth quarter. Legal & General Group Plc now owns 1,047 shares of the company’s stock valued at $26,000 after purchasing an additional 474 shares during the period. Amalgamated Bank grew its position in IBEX by 80.7% in the 4th quarter. Amalgamated Bank now owns 1,635 shares of the company’s stock valued at $41,000 after acquiring an additional 730 shares in the last quarter. Point72 Middle East FZE purchased a new stake in IBEX during the second quarter worth about $43,000. Castleview Partners LLC acquired a new stake in shares of IBEX during the first quarter worth about $59,000. Finally, Citigroup Inc. boosted its stake in shares of IBEX by 325,600.0% in the second quarter. Citigroup Inc. now owns 3,257 shares of the company’s stock valued at $69,000 after purchasing an additional 3,256 shares during the period. 81.24% of the stock is currently owned by institutional investors and hedge funds.

IBEX Company Profile

IBEX Limited provides end-to-end technology-enabled customer lifecycle experience solutions in the United States and internationally. The company products and services portfolio includes ibex Connect, that offers customer service, technical support, revenue generation, and other revenue generation outsourced back-office services through the CX model, which integrates voice, email, chat, SMS, social media, and other communication applications; ibex Digital, a customer acquisition solution that comprises digital marketing, e-commerce technology, and platform solutions; and ibex CX, a customer experience solution, which provides a suite of proprietary software tools to measure, monitor, and manage its clients' customer experience.