Wall Street Zen Downgrades CPI Card Group (NASDAQ:PMTS) to Buy

CPI Card Group (NASDAQ:PMTS) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.

Other research analysts have also recently issued reports about the company. DA Davidson restated a “buy” rating and set a $30.00 price target on shares of CPI Card Group in a research note on Thursday, June 25th. Zacks Research raised CPI Card Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 2nd. Weiss Ratings upgraded CPI Card Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, June 1st. Lake Street Capital reissued a “buy” rating and set a $27.00 target price on shares of CPI Card Group in a research note on Wednesday, May 6th. Finally, Roth Mkm restated a “buy” rating and set a $25.00 target price on shares of CPI Card Group in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $27.50.

CPI Card Group Stock Performance

CPI Card Group stock opened at $20.38 on Friday. The company’s 50 day simple moving average is $17.67 and its 200-day simple moving average is $15.55. The company has a market capitalization of $233.96 million, a price-to-earnings ratio of 19.98 and a beta of 1.03. CPI Card Group has a 1 year low of $10.81 and a 1 year high of $25.50.

CPI Card Group (NASDAQ:PMTS) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.06. CPI Card Group had a net margin of 2.15% and a negative return on equity of 92.16%. The firm had revenue of $147.11 million during the quarter, compared to analysts’ expectations of $134.69 million. Equities analysts expect that CPI Card Group will post 2.52 earnings per share for the current year.

Insider Buying and Selling

In other news, Chairman H Sanford Riley purchased 5,400 shares of the stock in a transaction on Tuesday, May 19th. The stock was bought at an average price of $16.00 per share, for a total transaction of $86,400.00. Following the acquisition, the chairman directly owned 5,400 shares of the company’s stock, valued at approximately $86,400. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Donna Abbey Carmignani sold 4,870 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $15.32, for a total transaction of $74,608.40. Following the completion of the sale, the insider directly owned 5,478 shares in the company, valued at approximately $83,922.96. This represents a 47.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 5.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Kestra Advisory Services LLC acquired a new stake in shares of CPI Card Group during the 4th quarter worth about $29,000. Los Angeles Capital Management LLC purchased a new position in CPI Card Group in the fourth quarter valued at approximately $52,000. Lazard Asset Management LLC increased its stake in CPI Card Group by 100.4% in the second quarter. Lazard Asset Management LLC now owns 2,928 shares of the company’s stock valued at $69,000 after purchasing an additional 1,467 shares during the last quarter. IFP Advisors Inc raised its holdings in CPI Card Group by 37.0% during the third quarter. IFP Advisors Inc now owns 5,949 shares of the company’s stock worth $91,000 after purchasing an additional 1,607 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of CPI Card Group by 73.1% during the 4th quarter. Wells Fargo & Company MN now owns 6,769 shares of the company’s stock worth $99,000 after buying an additional 2,859 shares during the last quarter. 22.08% of the stock is owned by institutional investors and hedge funds.

About CPI Card Group

CPI Card Group, Inc (NASDAQ: PMTS) is a leading provider of payment, identification and related credential solutions for financial institutions, governments and private enterprises. The company specializes in the design, manufacturing and personalization of secure plastic and metal cards, including EMV chip, magnetic-stripe and contactless cards. CPI Card Group also offers digital credentialing services and cloud-based card management tools that enable real-time controls, mobile wallet integration, fraud monitoring and analytics.

With a focus on security and innovation, CPI Card Group integrates advanced features such as holograms, microprinting, RFID/NFC technology and laser-engraved artwork into its card products.