CPI Card Group (NASDAQ:PMTS) Rating Lowered to “Strong Sell” at Zacks Research

CPI Card Group (NASDAQ:PMTS) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other equities research analysts have also issued reports on the company. Roth Capital set a $30.00 price target on CPI Card Group in a research report on Tuesday. Wall Street Zen lowered CPI Card Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 16th. Weiss Ratings downgraded CPI Card Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, October 8th. Lake Street Capital set a $25.00 price target on CPI Card Group in a report on Wednesday. Finally, DA Davidson dropped their price objective on shares of CPI Card Group from $32.00 to $30.00 and set a “buy” rating for the company in a report on Wednesday. Four analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $31.80.

CPI Card Group Stock Up 0.1%

Shares of PMTS opened at $14.22 on Wednesday. CPI Card Group has a 52-week low of $12.52 and a 52-week high of $35.19. The stock has a market cap of $161.21 million, a PE ratio of 12.70 and a beta of 1.49. The firm’s fifty day moving average is $15.41 and its two-hundred day moving average is $19.29.

CPI Card Group (NASDAQ:PMTS) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.16). CPI Card Group had a negative return on equity of 58.00% and a net margin of 2.66%.The business had revenue of $137.97 million during the quarter, compared to analysts’ expectations of $140.62 million. As a group, research analysts anticipate that CPI Card Group will post 1.63 earnings per share for the current year.

Insider Buying and Selling at CPI Card Group

In other CPI Card Group news, Chairman H Sanford Riley purchased 10,000 shares of the stock in a transaction dated Tuesday, August 12th. The stock was acquired at an average cost of $15.75 per share, for a total transaction of $157,500.00. Following the acquisition, the chairman owned 31,033 shares in the company, valued at $488,769.75. This trade represents a 47.54% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of PMTS. SummerHaven Investment Management LLC purchased a new position in CPI Card Group during the third quarter worth about $564,000. Pembroke Management LTD lifted its holdings in shares of CPI Card Group by 87.9% in the 3rd quarter. Pembroke Management LTD now owns 99,567 shares of the company’s stock worth $1,507,000 after acquiring an additional 46,575 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in shares of CPI Card Group by 67.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 17,669 shares of the company’s stock worth $268,000 after purchasing an additional 7,133 shares during the period. State of Tennessee Department of Treasury acquired a new stake in CPI Card Group in the 2nd quarter valued at approximately $255,000. Finally, Wasatch Advisors LP increased its holdings in CPI Card Group by 56.3% in the 2nd quarter. Wasatch Advisors LP now owns 357,754 shares of the company’s stock valued at $8,486,000 after purchasing an additional 128,808 shares during the last quarter. Institutional investors and hedge funds own 22.08% of the company’s stock.

About CPI Card Group

CPI Card Group Inc, together with its subsidiaries, engages in the design, production, data personalization, packaging, and fulfillment of financial payment cards. It operates through Debit and Credit, and Prepaid Debit segments. The Debit and Credit segment produces financial payment cards and provides integrated card services to card-issuing financial institutions.