CPI Card Group (NASDAQ:PMTS) Raised to Strong-Buy at Zacks Research

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

PMTS has been the subject of a number of other reports. Weiss Ratings raised CPI Card Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday. Wall Street Zen cut CPI Card Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. DA Davidson reissued a “buy” rating and issued a $30.00 price target on shares of CPI Card Group in a report on Wednesday, March 11th. Lake Street Capital reissued a “buy” rating and issued a $27.00 price target on shares of CPI Card Group in a report on Wednesday, May 6th. Finally, Roth Mkm reissued a “buy” rating and issued a $25.00 price target on shares of CPI Card Group in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, CPI Card Group currently has a consensus rating of “Buy” and a consensus price target of $27.50.

CPI Card Group Stock Down 3.2%

NASDAQ PMTS opened at $16.21 on Tuesday. CPI Card Group has a fifty-two week low of $10.81 and a fifty-two week high of $25.50. The stock has a market cap of $186.09 million, a price-to-earnings ratio of 15.89 and a beta of 1.07. The business has a fifty day moving average of $16.52 and a 200-day moving average of $14.84.

CPI Card Group (NASDAQ:PMTS) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $134.69 million. As a group, analysts anticipate that CPI Card Group will post 2.52 EPS for the current year.

Insiders Place Their Bets

In other news, insider Donna Abbey Carmignani sold 4,870 shares of CPI Card Group stock in a transaction on 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman H Sanford Riley acquired 5,400 shares of the stock in a transaction dated Tuesday, May 19th. The stock was acquired at an average cost of $16.00 per share, with a total value of $86,400.00. Following 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 ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 5.80% of the stock is owned by insiders.

Institutional Investors Weigh In On CPI Card Group

A number of hedge funds and other institutional investors have recently made changes to their positions in PMTS. Kestra Advisory Services LLC purchased a new stake in shares of CPI Card Group in the fourth quarter valued at $29,000. Los Angeles Capital Management LLC purchased a new stake in shares of CPI Card Group in the fourth quarter valued at $52,000. Lazard Asset Management LLC grew its position in shares of CPI Card Group by 100.4% in the second quarter. Lazard Asset Management LLC now owns 2,928 shares of the company’s stock valued at $69,000 after purchasing an additional 1,467 shares during the period. IFP Advisors Inc grew its position in shares of CPI Card Group by 37.0% in the third quarter. IFP Advisors Inc now owns 5,949 shares of the company’s stock valued at $91,000 after purchasing an additional 1,607 shares during the period. Finally, Wells Fargo & Company MN grew its position in shares of CPI Card Group by 73.1% in the fourth quarter. Wells Fargo & Company MN now owns 6,769 shares of the company’s stock valued at $99,000 after purchasing an additional 2,859 shares during the period. Hedge funds and other institutional investors 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.