Control4 (CTRL) Board Authorizes Stock Buyback Plan

Control4 (NASDAQ:CTRL) announced that its board has approved a stock buyback plan, which permits the company to repurchase $20.00 million in outstanding shares on Thursday, February 8th, EventVestor reports. This repurchase authorization permits the electronics maker to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Several equities research analysts have commented on the company. Maxim Group restated a “hold” rating and issued a $33.00 target price on shares of Control4 in a research note on Friday, November 3rd. UBS Group cut Control4 from an “outperform” rating to a “market perform” rating in a research note on Friday, November 3rd. Imperial Capital upped their price objective on Control4 from $28.00 to $30.00 and gave the stock an “in-line” rating in a research note on Tuesday, January 23rd. Zacks Investment Research upgraded Control4 from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research note on Wednesday, November 8th. Finally, BidaskClub upgraded Control4 from a “hold” rating to a “buy” rating in a research note on Wednesday, December 20th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. Control4 presently has a consensus rating of “Hold” and a consensus target price of $27.25.

Shares of Control4 (CTRL) traded down $0.20 during trading on Friday, hitting $25.00. The stock had a trading volume of 393,708 shares, compared to its average volume of 608,417. Control4 has a one year low of $13.25 and a one year high of $35.99. The company has a market cap of $626.36, a PE ratio of 47.55, a P/E/G ratio of 2.25 and a beta of -0.60.

Control4 (NASDAQ:CTRL) last announced its quarterly earnings data on Thursday, February 8th. The electronics maker reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. Control4 had a return on equity of 11.63% and a net margin of 5.96%. The company had revenue of $68.34 million for the quarter, compared to analysts’ expectations of $67.21 million. During the same quarter in the prior year, the business posted $0.31 EPS. The business’s revenue was up 19.1% compared to the same quarter last year. sell-side analysts expect that Control4 will post 0.68 earnings per share for the current year.

In related news, SVP Eric Anderson sold 14,384 shares of the stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $30.54, for a total value of $439,287.36. Following the sale, the senior vice president now owns 17,388 shares in the company, valued at approximately $531,029.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Martin Plaehn sold 5,304 shares of the stock in a transaction on Monday, November 20th. The shares were sold at an average price of $33.27, for a total value of $176,464.08. Following the completion of the sale, the chief executive officer now owns 52,120 shares in the company, valued at approximately $1,734,032.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,397 shares of company stock worth $1,612,471. 6.10% of the stock is owned by company insiders.

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Control4 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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