IBEX (NASDAQ:IBEX) Reaches New 52-Week High - Here's Why

Key Points

• IBEX reached a 52-week high, trading as high as $55.92, up from its previous close of $54.87.
• The company beat quarterly expectations, reporting EPS of $1.10 versus $0.90 expected and revenue of $175.23 million versus $169.31 million forecast.
• Analyst views remain mixed: MarketBeat reports a consensus Hold rating and $44.50 price target, while some firms recently raised targets or upgraded their ratings.

Shares of IBEX Limited (NASDAQ:IBEX - Get Free Report) hit a new 52-week high during trading on Friday. The stock traded as high as $55.92 and last traded at $55.91, with a volume of 14,759 shares trading hands. The stock had previously closed at $54.87.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Weiss Ratings upgraded shares of IBEX from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, October 12th. Royal Bank Of Canada lifted their target price on shares of IBEX from $40.00 to $45.00 and gave the stock a "sector perform" rating in a report on Tuesday. Robert W. Baird upped their target price on shares of IBEX from $40.00 to $44.00 and gave the stock a "neutral" rating in a research note on Monday, September 28th. Finally, Wall Street Zen upgraded shares of IBEX from a "buy" rating to a "strong-buy" rating in a report on Saturday, November 7th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, IBEX has a consensus rating of "Hold" and a consensus target price of $44.50.

IBEX Trading Up 4.3%

The stock has a market cap of $762.72 million, a P/E ratio of 17.31 and a beta of 0.74. The company's 50 day moving average price is $44.18 and its two-hundred day moving average price is $34.80.

IBEX (NASDAQ:IBEX - Get Free Report) last announced its earnings results on Thursday, November 5th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.20. IBEX had a net margin of 7.34% and a return on equity of 29.10%. The company had revenue of $175.23 million during the quarter, compared to analyst estimates of $169.31 million.

Insider Buying and Selling at IBEX

In other news, insider Christina O'Connor sold 7,500 shares of the business's stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $40.30, for a total transaction of $302,250.00. Following the completion of the sale, the insider owned 29,231 shares of the company's stock, valued at $1,178,009.30. The trade was a 20.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Julie Casteel sold 17,474 shares of the company's stock in a transaction 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 completion of the sale, the insider owned 100,814 shares of the company's stock, valued at $4,073,893.74. This trade represents a 14.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 128,686 shares of company stock worth $5,462,196. Insiders own 3.28% of the company's stock.

Institutional Trading of IBEX

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Lazard Asset Management LLC grew its stake in shares of IBEX by 55.2% during the 1st quarter. Lazard Asset Management LLC now owns 89,150 shares of the company's stock valued at $2,391,000 after acquiring an additional 31,697 shares during the period. Globeflex Capital L P purchased a new stake in IBEX in the 2nd quarter worth approximately $3,112,000. Tieton Capital Management LLC bought a new stake in IBEX during the 2nd quarter worth approximately $8,353,000. Watershed Asset Management L.L.C. bought a new stake in IBEX during the 1st quarter worth approximately $453,000. Finally, Dimensional Fund Advisors LP raised its stake in IBEX by 7.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 358,191 shares of the company's stock worth $9,607,000 after acquiring an additional 24,942 shares during the period. Hedge funds and other institutional investors own 81.24% of the company's stock.

IBEX Company Profile

IBEX Limited is a business process outsourcing and customer experience company that helps businesses manage interactions with their customers. Its services include customer acquisition, customer care, technical support, back-office operations and digital solutions. The company serves clients across industries such as technology, telecommunications, retail, healthcare and financial services. IBEX delivers its services through a global network of contact centers and digital operations, supporting customers in multiple markets.

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