Zacks Research Upgrades CPI Card Group (NASDAQ:PMTS) to “Strong-Buy”

CPI Card Group (NASDAQ:PMTS) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

Several other research analysts have also issued reports on PMTS. DA Davidson reaffirmed a “buy” rating and set a $30.00 target price on shares of CPI Card Group in a research report on Wednesday, March 11th. Roth Mkm reaffirmed a “buy” rating and set a $25.00 target price on shares of CPI Card Group in a research report on Tuesday, May 5th. Wall Street Zen lowered CPI Card Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings raised CPI Card Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. Finally, Lake Street Capital reaffirmed a “buy” rating and set a $27.00 target price on shares of CPI Card Group in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $27.50.

CPI Card Group Price Performance

Shares of NASDAQ:PMTS opened at $16.21 on Tuesday. The business’s 50-day moving average is $16.52 and its 200 day moving average is $14.84. CPI Card Group has a 1 year low of $10.81 and a 1 year high of $25.50. The firm has a market capitalization of $186.09 million, a P/E ratio of 15.89 and a beta of 1.07.

CPI Card Group (NASDAQ:PMTS) last announced its earnings results on Tuesday, May 5th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.06. CPI Card Group had a negative return on equity of 92.16% and a net margin of 2.15%.The company had revenue of $147.11 million for the quarter, compared to analyst estimates of $134.69 million. On average, analysts expect that CPI Card Group will post 2.52 EPS for the current year.

Insider Activity

In other news, insider Donna Abbey Carmignani sold 4,870 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $15.32, for a total value of $74,608.40. Following the completion of the transaction, the insider owned 5,478 shares of the company’s stock, valued at $83,922.96. The trade was a 47.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman H Sanford Riley acquired 6,500 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The stock was bought at an average cost of $16.00 per share, with a total value of $104,000.00. Following the acquisition, the chairman owned 259,938 shares in the company, valued at approximately $4,159,008. This trade represents a 2.56% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On CPI Card Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. First Trust Advisors LP raised its holdings in CPI Card Group by 5.5% in the 2nd quarter. First Trust Advisors LP now owns 14,987 shares of the company’s stock worth $355,000 after purchasing an additional 782 shares during the period. Man Group plc raised its holdings in CPI Card Group by 8.3% in the 3rd quarter. Man Group plc now owns 13,134 shares of the company’s stock worth $199,000 after purchasing an additional 1,006 shares during the period. Janney Montgomery Scott LLC raised its holdings in CPI Card Group by 10.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 14,736 shares of the company’s stock worth $214,000 after purchasing an additional 1,346 shares during the period. Lazard Asset Management LLC raised its holdings in CPI Card Group by 100.4% in the 2nd quarter. Lazard Asset Management LLC now owns 2,928 shares of the company’s stock worth $69,000 after purchasing an additional 1,467 shares during the period. Finally, IFP Advisors Inc raised its holdings in CPI Card Group by 37.0% in the 3rd quarter. IFP Advisors Inc now owns 5,949 shares of the company’s stock worth $91,000 after purchasing an additional 1,607 shares during the period. Institutional investors and hedge funds own 22.08% of the company’s stock.

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.