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

IBEX (NASDAQ:IBEX) had its price target reduced by Robert W. Baird from $21.00 to $20.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price target would indicate a potential upside of 51.98% from the company’s previous close.

Several other analysts have also recently commented on IBEX. Truist Financial dropped their target price on shares of IBEX from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, February 9th. TheStreet cut shares of IBEX from a “b-” rating to a “c+” rating in a research report on Wednesday, March 6th. Finally, Piper Sandler reiterated a “neutral” rating and set a $17.00 target price on shares of IBEX in a research report on Friday, February 9th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, IBEX presently has an average rating of “Hold” and an average target price of $19.20.

IBEX Trading Up 1.0 %

NASDAQ:IBEX opened at $13.16 on Friday. IBEX has a 1 year low of $11.45 and a 1 year high of $23.52. The firm has a 50 day moving average of $14.92 and a 200-day moving average of $16.62. The stock has a market capitalization of $231.22 million, a P/E ratio of 8.38 and a beta of 0.62.

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

Insider Activity

In other news, insider Jeffrey Hays Cox sold 7,331 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $16.06, for a total value of $117,735.86. Following the completion of the transaction, the insider now owns 402,920 shares of the company’s stock, valued at approximately $6,470,895.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 20.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On IBEX

Several institutional investors and hedge funds have recently made changes to their positions in the company. Resource Group International Ltd acquired a new position in IBEX in the 4th quarter worth $103,964,000. Circumference Group LLC bought a new position in IBEX during the 4th quarter worth about $7,842,000. American Century Companies Inc. increased its holdings in IBEX by 20.9% during the 3rd quarter. American Century Companies Inc. now owns 1,238,785 shares of the company’s stock worth $19,139,000 after purchasing an additional 214,484 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in IBEX by 225.9% during the 1st quarter. JPMorgan Chase & Co. now owns 188,432 shares of the company’s stock worth $4,598,000 after purchasing an additional 130,609 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in IBEX by 28.6% during the 2nd quarter. BlackRock Inc. now owns 581,454 shares of the company’s stock worth $12,344,000 after purchasing an additional 129,234 shares in the last quarter. Institutional investors and hedge funds own 81.24% of the company’s stock.

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.