Brokerages Set IBEX Limited (NASDAQ:IBEX) Target Price at $19.80

Shares of IBEX Limited (NASDAQ:IBEX) have received an average recommendation of “Hold” from the five ratings firms that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $19.20.

Several equities research analysts have weighed in on the company. Truist Financial cut their target price on IBEX from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, February 9th. Piper Sandler reiterated a “neutral” rating and issued a $17.00 price target on shares of IBEX in a research note on Friday, February 9th. Robert W. Baird dropped their price target on IBEX from $21.00 to $20.00 and set an “outperform” rating for the company in a research note on Friday, April 19th. Finally, TheStreet cut IBEX from a “b-” rating to a “c+” rating in a research note on Wednesday, March 6th.

Insiders Place Their Bets

In other news, insider Jeffrey Hays Cox sold 9,383 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $16.05, for a total transaction of $150,597.15. Following the transaction, the insider now owns 385,251 shares of the company’s stock, valued at approximately $6,183,278.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 20.80% of the company’s stock.

Hedge Funds Weigh In On IBEX

Institutional investors and hedge funds have recently made changes to their positions in the stock. Resource Group International Ltd bought a new position in shares of IBEX during the 4th quarter worth about $103,964,000. Wellington Management Group LLP boosted its position in shares of IBEX by 16.6% during the 3rd quarter. Wellington Management Group LLP now owns 719,196 shares of the company’s stock worth $11,112,000 after purchasing an additional 102,500 shares in the last quarter. American Century Companies Inc. boosted its position in shares of 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. AQR Capital Management LLC boosted its position in shares of IBEX by 60.0% during the 3rd quarter. AQR Capital Management LLC now owns 343,663 shares of the company’s stock worth $5,310,000 after purchasing an additional 128,850 shares in the last quarter. Finally, Barclays PLC lifted its position in IBEX by 15.9% in the 3rd quarter. Barclays PLC now owns 9,932 shares of the company’s stock valued at $154,000 after acquiring an additional 1,363 shares in the last quarter. Institutional investors own 81.24% of the company’s stock.

IBEX Trading Down 0.8 %

Shares of IBEX stock opened at $13.31 on Thursday. The stock has a market cap of $233.86 million, a P/E ratio of 8.48 and a beta of 0.62. The stock has a 50 day simple moving average of $14.76 and a 200 day simple moving average of $16.57. IBEX has a 1 year low of $11.45 and a 1 year high of $23.49.

IBEX (NASDAQ:IBEX) last released its earnings results 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 business had revenue of $132.63 million for the quarter, compared to the consensus estimate of $137.38 million. Analysts forecast that IBEX will post 1.95 EPS for the current year.

About IBEX

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.