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 to investors on Tuesday,Zacks.com reports.

Several other analysts have also recently commented on PMTS. 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. Wall Street Zen cut CPI Card Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. Weiss Ratings raised CPI Card Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday. 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. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, CPI Card Group currently has an average rating of “Buy” and a consensus target price of $27.50.

CPI Card Group Trading Down 3.2%

Shares of PMTS stock opened at $16.21 on Tuesday. The business’s 50 day moving average is $16.52 and its two-hundred day moving average is $14.84. CPI Card Group has a twelve month low of $10.81 and a twelve month high of $25.50. The company has a market capitalization of $186.09 million, a P/E ratio of 15.89 and a beta of 1.07.

CPI Card Group (NASDAQ:PMTS) last announced its earnings results on Tuesday, May 5th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.06. The company had revenue of $147.11 million for the quarter, compared to the consensus estimate of $134.69 million. CPI Card Group had a negative return on equity of 92.16% and a net margin of 2.15%. As a group, equities analysts predict that CPI Card Group will post 2.52 earnings per share for the current fiscal year.

Insider Buying and Selling at CPI Card Group

In related 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 transaction of $74,608.40. Following the completion of the transaction, the insider directly owned 5,478 shares of the company’s stock, valued at approximately $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 SEC, which can be accessed through this link. Also, Chairman H Sanford Riley acquired 6,500 shares of CPI Card Group stock in a transaction that occurred on Tuesday, May 19th. The shares were purchased at an average cost of $16.00 per share, with a total value of $104,000.00. Following the completion of the acquisition, the chairman owned 259,938 shares of the company’s stock, valued at $4,159,008. The trade was a 2.56% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On CPI Card Group

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Lazard Asset Management LLC acquired a new position in CPI Card Group during the first quarter worth $157,000. Walleye Capital LLC acquired a new position in CPI Card Group during the first quarter worth $358,000. Janney Montgomery Scott LLC raised its holdings in CPI Card Group by 10.1% during the first quarter. Janney Montgomery Scott LLC now owns 14,736 shares of the company’s stock worth $214,000 after purchasing an additional 1,346 shares during the last quarter. Creek Drive Management Group LLC acquired a new position in CPI Card Group during the fourth quarter worth $440,000. Finally, Aristeia Capital L.L.C. acquired a new position in CPI Card Group during the fourth quarter worth $597,000. 22.08% of the stock is owned by institutional investors and hedge funds.

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.