Zacks Investment Research upgraded shares of Control4 Corporation (NASDAQ:CTRL) from a hold rating to a buy rating in a report released on Wednesday. Zacks Investment Research currently has $25.00 price target on the electronics maker’s stock.
According to Zacks, “Control4 Corporation is engaged in providing automation and control solutions for the connected home. The Company offers home operating system that interacts with various music, video, lighting, temperature, security, and communications. It also provides 4Sight subscription services, which allow consumers to control and monitor their homes remotely from their smartphone, tablet, or laptop. Control4 Corporation is headquartered in Salt Lake City, Utah. “
A number of other equities research analysts have also weighed in on the company. Singular Research started coverage on Control4 Corporation in a research note on Monday, April 17th. They issued a buy rating and a $21.00 target price for the company. Maxim Group started coverage on Control4 Corporation in a research note on Thursday, May 11th. They issued a hold rating and a $19.00 target price for the company. Imperial Capital boosted their target price on Control4 Corporation from $16.00 to $19.00 and gave the company an in-line rating in a research note on Monday, May 15th. Needham & Company LLC reaffirmed a buy rating and set a $22.00 price target on shares of Control4 Corporation in a research report on Wednesday, May 31st. Finally, BidaskClub lowered Control4 Corporation from a strong-buy rating to a buy rating in a research report on Tuesday, July 25th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Control4 Corporation has a consensus rating of Buy and an average target price of $20.63.
Control4 Corporation (NASDAQ CTRL) opened at 23.74 on Wednesday. The company has a market capitalization of $590.06 million, a P/E ratio of 57.90 and a beta of -0.60. Control4 Corporation has a 12 month low of $9.97 and a 12 month high of $24.94. The stock’s 50 day moving average price is $22.02 and its 200-day moving average price is $17.58.
Control4 Corporation (NASDAQ:CTRL) last released its earnings results on Thursday, August 3rd. The electronics maker reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.09. Control4 Corporation had a return on equity of 10.77% and a net margin of 4.70%. The company had revenue of $61.40 million during the quarter, compared to analyst estimates of $60.70 million. During the same quarter in the previous year, the company posted $0.23 EPS. Control4 Corporation’s revenue for the quarter was up 15.4% on a year-over-year basis. On average, equities research analysts predict that Control4 Corporation will post $1.04 EPS for the current fiscal year.
In other Control4 Corporation news, Director Robert Born sold 2,356 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $22.55, for a total transaction of $53,127.80. Following the completion of the transaction, the director now owns 15,433 shares of the company’s stock, valued at approximately $348,014.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jefferson Dungan sold 28,044 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $19.98, for a total value of $560,319.12. The disclosure for this sale can be found here. Insiders have sold a total of 36,168 shares of company stock valued at $718,042 in the last ninety days. 6.10% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its position in shares of Control4 Corporation by 638.2% in the second quarter. Bank of New York Mellon Corp now owns 729,785 shares of the electronics maker’s stock valued at $14,311,000 after buying an additional 630,921 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Control4 Corporation by 100.4% in the second quarter. Dimensional Fund Advisors LP now owns 802,857 shares of the electronics maker’s stock valued at $15,744,000 after buying an additional 402,208 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Control4 Corporation by 135.8% in the first quarter. Renaissance Technologies LLC now owns 614,700 shares of the electronics maker’s stock valued at $9,706,000 after buying an additional 354,000 shares in the last quarter. Driehaus Capital Management LLC purchased a new position in shares of Control4 Corporation during the first quarter valued at about $4,147,000. Finally, Acadian Asset Management LLC purchased a new position in shares of Control4 Corporation during the second quarter valued at about $4,519,000. 75.12% of the stock is owned by hedge funds and other institutional investors.
About Control4 Corporation
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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