Royal Bank of Canada Lowers IBEX (NASDAQ:IBEX) Price Target to $27.00

IBEX (NASDAQ:IBEXGet Rating) had its price objective dropped by Royal Bank of Canada from $30.00 to $27.00 in a report released on Thursday, The Fly reports. Royal Bank of Canada’s target price would suggest a potential upside of 31.90% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Credit Suisse Group lifted their price target on shares of IBEX from $27.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, February 16th. Robert W. Baird dropped their target price on shares of IBEX from $32.00 to $28.00 in a research report on Thursday. Piper Sandler boosted their target price on shares of IBEX from $29.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday, February 16th. Finally, Citigroup dropped their target price on shares of IBEX from $30.00 to $23.00 in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $26.83.

IBEX Price Performance

IBEX stock opened at $20.47 on Thursday. IBEX has a 12-month low of $14.85 and a 12-month high of $31.40. The company has a market capitalization of $373.58 million, a price-to-earnings ratio of 17.06 and a beta of 0.60. The firm’s fifty day moving average price is $22.99 and its 200 day moving average price is $24.79.

IBEX (NASDAQ:IBEXGet Rating) last released its quarterly earnings results on Wednesday, February 15th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.22. IBEX had a net margin of 4.36% and a return on equity of 32.04%. The firm had revenue of $139.39 million for the quarter, compared to the consensus estimate of $144.94 million. Analysts forecast that IBEX will post 1.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IBEX

A number of institutional investors have recently modified their holdings of the business. Legal & General Group Plc grew its position in shares of IBEX by 82.7% during the 4th quarter. Legal & General Group Plc now owns 1,047 shares of the company’s stock valued at $26,000 after buying an additional 474 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of IBEX by 3.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 20,674 shares of the company’s stock valued at $504,000 after buying an additional 636 shares during the last quarter. Amalgamated Bank grew its position in shares of IBEX by 80.7% during the 4th quarter. Amalgamated Bank now owns 1,635 shares of the company’s stock valued at $41,000 after buying an additional 730 shares during the last quarter. Lazard Asset Management LLC grew its position in shares of IBEX by 20.2% during the 4th quarter. Lazard Asset Management LLC now owns 4,338 shares of the company’s stock valued at $107,000 after buying an additional 730 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of IBEX by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 28,889 shares of the company’s stock valued at $461,000 after buying an additional 904 shares during the last quarter. Institutional investors own 27.03% of the company’s stock.

IBEX Company Profile

(Get Rating)

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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