In a report released today, Michael Grondahl from Northland Securities maintained a Buy rating on International Money Express Inc (IMXI), with a price target of $17. The company’s shares closed yesterday at $14.47, close to its 52-week high of $14.60.
Grondahl commented:
“We believe these are on the conservative side and we also highlight that we maintain adj. EBITDA margins flat with 2018 to allow for a little investment. We believe the legacy SE states remain solid and the primary growth drivers remain newer growth states CA, TX, IL, etc, and new agent growth. Reiterate OP and increasing PT to $17.”
According to TipRanks.com, Grondahl is a 5-star analyst with an average return of 20.7% and a 60.5% success rate. Grondahl covers the Financial sector, focusing on stocks such as Front Yard Residential Corporation, Altisource Portfolio Solutions SA, and Thunder Bridge Acquisition Ltd.
International Money Express Inc has an analyst consensus of Moderate Buy, with a price target consensus of $17.
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Based on International Money Express Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $3.16 million. In comparison, last year the company had a GAAP net loss of $29.24K.
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International Money Express, Inc. engages in the provision of electronic money remittance services. It offers wire transfer, money order and check cashing services. The company was founded in 1994 and is headquartered in Miami, FL.