IBEX (NASDAQ:IBEX) Hits New 12-Month High - Should You Buy?

Key Points

• IBEX shares reached a new 52-week high of $47.32, with the stock trading near $45.82 and well above its 50-day and 200-day moving averages.
• Analysts remain cautious: the consensus rating is Hold with a $42.00 price target, despite Robert W. Baird raising its target to $44.00.
• IBEX slightly beat quarterly expectations, reporting $0.85 in EPS and $164.27 million in revenue, while insiders sold 97,465 shares worth approximately $3.88 million over the past 90 days.

Shares of IBEX Limited (NASDAQ:IBEX - Get Free Report) reached a new 52-week high during mid-day trading on Monday. The company traded as high as $47.32 and last traded at $45.8150, with a volume of 80,411 shares. The stock had previously closed at $45.65.

Analysts Set New Price Targets

Several analysts have weighed in on IBEX shares. Robert W. Baird lifted their price objective on IBEX from $40.00 to $44.00 and gave the company a "neutral" rating in a research report on Monday, September 28th. Wall Street Zen lowered IBEX from a "strong-buy" rating to a "buy" rating in a research report on Saturday, September 12th. Finally, Weiss Ratings raised IBEX from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, October 12th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $42.00.

IBEX Stock Performance

The company's fifty day moving average is $40.17 and its 200-day moving average is $34.37. The company has a market capitalization of $607.00 million, a PE ratio of 14.52 and a beta of 0.69.

IBEX (NASDAQ:IBEX - Get Free Report) last announced its quarterly earnings results on Friday, September 11th. The company reported $0.85 EPS for the quarter, beating analysts' consensus estimates of $0.84 by $0.01. IBEX had a return on equity of 28.96% and a net margin of 7.19%. The company had revenue of $164.27 million during the quarter, compared to analyst estimates of $160.02 million.

Insider Activity

In other news, insider Christina O'Connor sold 7,500 shares of the stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $40.30, for a total value of $302,250.00. Following the sale, the insider directly owned 29,231 shares in the company, valued at approximately $1,178,009.30. This represents a 20.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Julie Casteel sold 17,474 shares of the firm's stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $40.41, for a total value of $706,124.34. Following the sale, the insider directly owned 100,814 shares of the company's stock, valued at $4,073,893.74. This represents a 14.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 97,465 shares of company stock valued at $3,882,291. 3.40% of the stock is currently owned by corporate insiders.

Institutional Trading of IBEX

Institutional investors and hedge funds have recently modified their holdings of the stock. Bullock Wealth Management Group purchased a new stake in IBEX in the third quarter worth about $36,000. Pinnacle Wealth Management Advisory Group LLC lifted its position in shares of IBEX by 33.0% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 10,576 shares of the company's stock worth $321,000 after purchasing an additional 2,625 shares during the period. Squarepoint Ops LLC lifted its position in shares of IBEX by 6.4% in the 2nd quarter. Squarepoint Ops LLC now owns 84,982 shares of the company's stock worth $2,581,000 after purchasing an additional 5,127 shares during the period. Globeflex Capital L P bought a new position in shares of IBEX during the second quarter valued at approximately $3,112,000. Finally, Tieton Capital Management LLC bought a new position in shares of IBEX during the second quarter valued at approximately $8,353,000. Institutional investors own 81.24% of the company's stock.

IBEX Company Profile

IBEX Limited is a provider of business process outsourcing and customer experience solutions. The company helps brands manage customer interactions across voice, chat, email, social media and other digital channels, combining contact-center operations with technology, analytics and automation.

Its services include customer care, technical support, sales, revenue generation, back-office processing and trust and safety programs. IBEX also offers digital transformation and artificial intelligence-enabled tools intended to improve customer engagement, agent productivity and operational performance.

IBEX serves clients in industries such as communications, health care, retail, logistics, financial services and technology.

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