Piper Sandler Lowers IBEX (NASDAQ:IBEX) Price Target to $22.00

IBEX (NASDAQ:IBEX) had its price objective decreased by research analysts at Piper Sandler from $25.00 to $22.00 in a research report issued to clients and investors on Wednesday, The Fly reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price target indicates a potential upside of 23.25% from the stock’s previous close.

IBEX has been the topic of a number of other reports. Zacks Investment Research downgraded IBEX from a “buy” rating to a “hold” rating in a research note on Wednesday, July 21st. Robert W. Baird reissued a “buy” rating and set a $28.00 price objective on shares of IBEX in a report on Monday, September 6th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $21.83.

IBEX stock opened at $17.85 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.40 and a current ratio of 1.40. IBEX has a 52 week low of $9.27 and a 52 week high of $25.50. The stock has a market capitalization of $328.23 million and a P/E ratio of -46.97. The stock has a fifty day moving average of $19.73 and a 200-day moving average of $20.86.

IBEX (NASDAQ:IBEX) last issued its quarterly earnings data on Monday, September 13th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.15. IBEX had a positive return on equity of 33.09% and a negative net margin of 1.14%. During the same quarter last year, the company posted $0.14 EPS. On average, research analysts forecast that IBEX will post 1.1 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of IBEX. American International Group Inc. lifted its stake in IBEX by 19.4% in the 1st quarter. American International Group Inc. now owns 3,467 shares of the company’s stock worth $76,000 after purchasing an additional 563 shares in the last quarter. Manchester Capital Management LLC purchased a new stake in IBEX in the 1st quarter worth about $122,000. California State Teachers Retirement System grew its stake in IBEX by 23.4% in the 1st quarter. California State Teachers Retirement System now owns 8,973 shares of the company’s stock worth $197,000 after acquiring an additional 1,699 shares in the last quarter. Bank of New York Mellon Corp grew its stake in IBEX by 23.5% in the 1st quarter. Bank of New York Mellon Corp now owns 12,876 shares of the company’s stock worth $283,000 after acquiring an additional 2,449 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of IBEX during the first quarter valued at approximately $292,000. 24.26% of the stock is owned by institutional investors.

About IBEX

IBEX Limited provides end-to-end technology-enabled customer lifecycle experience solutions in the United States and internationally. The company provides ibex Connect, a customer engagement solution comprises customer service, technical support, and other value-added outsourced back office services through voice, email, chat, SMS, social media and other communication applications; ibex Digital, a customer acquisition solution that offers search, social, and display advertising capabilities; and ibex CX, a customer experience solution, which provides a comprehensive suite of proprietary software tools to measure, monitor and manage its clients' customer experience.

Further Reading: What is Considered a Good Return on Equity (ROE)?

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