Truist Financial Increases IBEX (NASDAQ:IBEX) Price Target to $27.00

IBEX (NASDAQ:IBEXGet Rating) had its price objective hoisted by Truist Financial from $22.00 to $27.00 in a research note released on Wednesday morning, The Fly reports. Truist Financial currently has a buy rating on the stock.

Several other research firms also recently issued reports on IBEX. Piper Sandler lifted their price target on shares of IBEX from $20.00 to $27.00 and gave the company an overweight rating in a research report on Wednesday. Royal Bank of Canada decreased their target price on shares of IBEX from $22.00 to $20.00 and set an outperform rating for the company in a research report on Friday, September 23rd. Citigroup dropped their price target on shares of IBEX from $20.00 to $18.00 and set a neutral rating on the stock in a research report on Monday, September 26th. Finally, TheStreet raised IBEX from a c rating to a b- rating in a report on Thursday, November 10th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $26.50.

IBEX Trading Up 1.4 %

Shares of NASDAQ IBEX opened at $24.85 on Wednesday. The firm’s 50-day moving average price is $18.91 and its 200-day moving average price is $17.83. The firm has a market capitalization of $453.51 million, a P/E ratio of 19.26 and a beta of 0.48. IBEX has a 1-year low of $10.77 and a 1-year high of $25.20.

IBEX (NASDAQ:IBEXGet Rating) last posted its quarterly earnings results on Thursday, September 22nd. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. IBEX had a return on equity of 28.36% and a net margin of 4.73%. The business had revenue of $123.71 million for the quarter, compared to the consensus estimate of $124.18 million. Equities research analysts forecast that IBEX will post 1.19 EPS for the current year.

Institutional Investors Weigh In On IBEX

Institutional investors have recently added to or reduced their stakes in the company. Castleview Partners LLC purchased a new position in shares of IBEX in the 2nd quarter worth approximately $4,392,000. Royce & Associates LP grew its position in IBEX by 15.8% during the first quarter. Royce & Associates LP now owns 184,165 shares of the company’s stock valued at $2,936,000 after buying an additional 25,136 shares during the period. Anchor Capital Advisors LLC purchased a new position in IBEX in the first quarter valued at about $348,000. Wellington Management Group LLP boosted its stake in IBEX by 5.0% in the first quarter. Wellington Management Group LLP now owns 385,755 shares of the company’s stock valued at $6,149,000 after acquiring an additional 18,455 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in shares of IBEX by 15.6% in the 1st quarter. Sei Investments Co. now owns 108,091 shares of the company’s stock worth $1,723,000 after purchasing an additional 14,605 shares during the period. 26.21% of the stock is owned by institutional investors.

About IBEX

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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 value-added 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.

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