Cimpress (NASDAQ:CMPR) Price Target Cut to $108.00 by Analysts at Truist Financial

Cimpress (NASDAQ:CMPR) had its target price cut by Truist Financial from $110.00 to $108.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the business services provider’s stock. Truist Financial’s price objective suggests a potential upside of 14.04% from the company’s previous close.

CMPR has been the subject of several other reports. Barrington Research boosted their price target on Cimpress from $95.00 to $113.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Wall Street Zen raised shares of Cimpress from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cimpress in a research report on Friday, July 24th. Finally, Zacks Research upgraded shares of Cimpress from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Cimpress currently has a consensus rating of “Buy” and an average target price of $110.50.

Cimpress Stock Down 3.0%

CMPR opened at $94.70 on Friday. The company has a market cap of $2.29 billion, a price-to-earnings ratio of 25.12 and a beta of 1.79. The firm’s fifty day simple moving average is $96.07 and its two-hundred day simple moving average is $84.55. Cimpress has a 52-week low of $48.51 and a 52-week high of $106.57.

Cimpress (NASDAQ:CMPR) last posted its quarterly earnings data on Wednesday, July 29th. The business services provider reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.25). Cimpress had a negative return on equity of 18.24% and a net margin of 2.57%.The firm had revenue of $944.96 million during the quarter, compared to analyst estimates of $945.53 million. On average, research analysts forecast that Cimpress will post 4.51 EPS for the current year.

Insider Activity

In related news, EVP Maarten Wensveen sold 19,251 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $92.96, for a total value of $1,789,572.96. Following the completion of the sale, the executive vice president owned 19,674 shares of the company’s stock, valued at approximately $1,828,895.04. This represents a 49.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Sean Edward Quinn sold 22,980 shares of Cimpress stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $104.61, for a total transaction of $2,403,937.80. Following the transaction, the executive vice president directly owned 28,937 shares in the company, valued at $3,027,099.57. This trade represents a 44.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 47,240 shares of company stock worth $4,715,549. Corporate insiders own 10.20% of the company’s stock.

Hedge Funds Weigh In On Cimpress

A number of hedge funds have recently modified their holdings of CMPR. KBC Group NV purchased a new stake in Cimpress in the 1st quarter valued at about $30,000. Financial Management Professionals Inc. purchased a new stake in shares of Cimpress in the 2nd quarter valued at approximately $33,000. Allworth Financial LP lifted its holdings in shares of Cimpress by 250.0% in the 3rd quarter. Allworth Financial LP now owns 518 shares of the business services provider’s stock worth $33,000 after acquiring an additional 370 shares during the last quarter. Headlands Technologies LLC boosted its position in shares of Cimpress by 32.3% during the 2nd quarter. Headlands Technologies LLC now owns 986 shares of the business services provider’s stock worth $46,000 after purchasing an additional 241 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Cimpress in the second quarter valued at approximately $51,000. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Cimpress Company Profile

Cimpress NV is a global leader in mass customization and web-to-print services, offering businesses and consumers an online platform to design, order and personalize printed marketing materials and promotional products. As the parent company of Vistaprint and a portfolio of regional print service providers, Cimpress leverages proprietary technology to connect millions of small- and medium-sized customers with a network of manufacturing facilities around the world. Its product range spans business cards, brochures, signage, labels, apparel, packaging and a variety of bespoke merchandise.

The company traces its roots to Vistaprint, founded in 1995 by Robert W.