DA Davidson Reaffirms “Buy” Rating for CPI Card Group (NASDAQ:PMTS)

CPI Card Group (NASDAQ:PMTS)‘s stock had its “buy” rating reissued by DA Davidson in a research note issued on Tuesday,Benzinga reports. They presently have a $30.00 price objective on the stock. DA Davidson’s target price points to a potential upside of 53.57% from the company’s previous close.

A number of other equities research analysts have also commented on PMTS. Lake Street Capital restated a “buy” rating and set a $27.00 price objective on shares of CPI Card Group in a report on Wednesday, May 6th. Wall Street Zen lowered shares of CPI Card Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Weiss Ratings upgraded CPI Card Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, June 1st. Roth Capital reissued a “buy” rating and issued a $25.00 price target on shares of CPI Card Group in a research note on Tuesday, May 5th. Finally, Zacks Research upgraded CPI Card Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $27.50.

CPI Card Group Stock Down 4.6%

Shares of PMTS traded down $0.94 on Tuesday, hitting $19.54. The company’s stock had a trading volume of 12,217 shares, compared to its average volume of 52,520. The firm’s fifty day moving average price is $17.73 and its 200-day moving average price is $15.57. CPI Card Group has a fifty-two week low of $10.81 and a fifty-two week high of $24.00. The firm has a market capitalization of $224.18 million, a price-to-earnings ratio of 19.15 and a beta of 1.03.

CPI Card Group (NASDAQ:PMTS) last announced its earnings results on Tuesday, May 5th. The company reported $0.38 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $134.69 million. As a group, equities analysts predict that CPI Card Group will post 2.52 earnings per share for the current fiscal year.

Insider Activity

In related news, Chairman H Sanford Riley purchased 5,400 shares of CPI Card Group stock in a transaction that occurred on Tuesday, May 19th. The stock was purchased at an average cost of $16.00 per share, with a total value of $86,400.00. Following the completion of the transaction, the chairman owned 5,400 shares of the company’s stock, valued at approximately $86,400. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Donna Abbey Carmignani sold 4,870 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were 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 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. Insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On CPI Card Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Jane Street Group LLC acquired a new position in CPI Card Group during the first quarter worth $223,000. Acadian Asset Management LLC acquired a new stake in CPI Card Group in the first quarter valued at $248,000. Geode Capital Management LLC grew its position in shares of CPI Card Group by 12.6% in the 2nd quarter. Geode Capital Management LLC now owns 125,500 shares of the company’s stock valued at $2,977,000 after acquiring an additional 14,039 shares during the period. First Trust Advisors LP grew its position in shares of CPI Card Group by 5.5% in the 2nd quarter. First Trust Advisors LP now owns 14,987 shares of the company’s stock valued at $355,000 after acquiring an additional 782 shares during the period. Finally, Marshall Wace LLP grew its position in shares of CPI Card Group by 11.9% in the 2nd quarter. Marshall Wace LLP now owns 102,834 shares of the company’s stock valued at $2,439,000 after acquiring an additional 10,930 shares during the period. 22.08% of the stock is owned by institutional investors.

CPI Card Group Company Profile

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.