Control4 Corporation (CTRL) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Control4 Corporation (NASDAQ:CTRL) have received an average rating of “Buy” from the eleven ratings firms that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $21.88.
Several equities research analysts have commented on the company. Zacks Investment Research lowered Control4 Corporation from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 10th. BidaskClub lowered Control4 Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Cowen and Company set a $22.00 price objective on Control4 Corporation and gave the company a “hold” rating in a research note on Friday, August 4th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $25.00 target price (up previously from $22.00) on shares of Control4 Corporation in a report on Wednesday, August 9th.
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Control4 Corporation (NASDAQ:CTRL) traded down 1.86% during midday trading on Wednesday, hitting $29.55. 299,034 shares of the stock were exchanged. The stock has a market cap of $734.47 million, a price-to-earnings ratio of 72.07 and a beta of -0.57. Control4 Corporation has a 12-month low of $9.97 and a 12-month high of $30.83. The firm has a 50 day moving average of $26.25 and a 200-day moving average of $20.88.
Control4 Corporation (NASDAQ:CTRL) last issued its earnings results on Thursday, August 3rd. The electronics maker reported $0.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.09. Control4 Corporation had a return on equity of 10.77% and a net margin of 4.70%. The firm had revenue of $61.40 million for the quarter, compared to analysts’ expectations of $60.70 million. During the same quarter last year, the firm earned $0.23 earnings per share. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. On average, equities analysts expect that Control4 Corporation will post $1.04 earnings per share for the current year.
In other news, Director Robert Born sold 2,356 shares of Control4 Corporation stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $22.55, for a total transaction of $53,127.80. Following the sale, the director now owns 15,433 shares in the company, valued at $348,014.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Greg Bishop sold 2,254 shares of Control4 Corporation stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $22.83, for a total transaction of $51,458.82. Following the sale, the insider now owns 14,295 shares in the company, valued at approximately $326,354.85. The disclosure for this sale can be found here. Insiders have sold a total of 8,546 shares of company stock worth $194,603 over the last three months. 6.10% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC boosted its stake in shares of Control4 Corporation by 38.3% in the second quarter. Renaissance Technologies LLC now owns 850,400 shares of the electronics maker’s stock valued at $16,676,000 after purchasing an additional 235,700 shares during the period. Vanguard Group Inc. grew its holdings in Control4 Corporation by 6.2% during the 2nd quarter. Vanguard Group Inc. now owns 849,627 shares of the electronics maker’s stock valued at $16,661,000 after purchasing an additional 49,595 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Control4 Corporation by 100.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 802,857 shares of the electronics maker’s stock valued at $15,744,000 after purchasing an additional 402,208 shares in the last quarter. Lord Abbett & CO. LLC grew its holdings in Control4 Corporation by 11.3% during the 2nd quarter. Lord Abbett & CO. LLC now owns 800,964 shares of the electronics maker’s stock valued at $15,707,000 after purchasing an additional 81,180 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Control4 Corporation by 638.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 729,785 shares of the electronics maker’s stock valued at $14,311,000 after purchasing an additional 630,921 shares in the last quarter. 74.27% of the stock is currently owned by institutional investors and hedge funds.
Control4 Corporation Company Profile
Control4 Corporation (Control4) is a provider of smart home and business solutions. The Company’s smart home and small business solutions provide consumers with the ability to integrate audio, video, lighting, temperature, security, communications, network management and other functionalities into a unified automation solution, customized to match their lifestyles and business needs.
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