Imperial Capital upgraded shares of Control4 (NASDAQ:CTRL) from an in-line rating to an outperform rating in a research report released on Thursday, MarketBeat Ratings reports. Imperial Capital currently has $30.00 price objective on the electronics maker’s stock, up from their prior price objective of $24.65.
Other research analysts also recently issued reports about the company. Zacks Investment Research upgraded Control4 from a hold rating to a buy rating and set a $37.00 price objective for the company in a report on Wednesday, November 8th. Maxim Group upgraded Control4 from a hold rating to a buy rating and increased their price objective for the stock from $33.00 to $36.00 in a report on Friday, February 9th. BidaskClub upgraded Control4 from a hold rating to a buy rating in a report on Wednesday, December 20th. Cowen restated a buy rating on shares of Control4 in a research note on Tuesday, January 9th. Finally, Dougherty & Co restated a neutral rating on shares of Control4 in a research note on Monday, February 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $30.67.
Control4 (CTRL) opened at $25.46 on Thursday. The stock has a market capitalization of $657.72, a PE ratio of 34.40, a P/E/G ratio of 2.15 and a beta of -0.42. Control4 has a fifty-two week low of $14.39 and a fifty-two week high of $35.99.
Control4 declared that its board has authorized a share buyback plan on Thursday, February 8th that authorizes the company to repurchase $20.00 million in shares. This repurchase authorization authorizes the electronics maker to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
In other news, insider Greg Bishop sold 6,072 shares of the firm’s stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $25.22, for a total value of $153,135.84. Following the completion of the sale, the insider now directly owns 12,558 shares of the company’s stock, valued at $316,712.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Eric Anderson sold 14,384 shares of the firm’s stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $30.54, for a total value of $439,287.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 186,103 shares of company stock valued at $4,760,985. Corporate insiders own 6.10% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of Control4 in the third quarter valued at approximately $1,834,000. Schwab Charles Investment Management Inc. lifted its holdings in Control4 by 39.1% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 101,652 shares of the electronics maker’s stock worth $2,995,000 after purchasing an additional 28,565 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Control4 by 58.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 95,657 shares of the electronics maker’s stock worth $2,818,000 after purchasing an additional 35,365 shares during the last quarter. American International Group Inc. lifted its holdings in Control4 by 23.6% during the 3rd quarter. American International Group Inc. now owns 18,720 shares of the electronics maker’s stock worth $551,000 after purchasing an additional 3,577 shares during the last quarter. Finally, PEAK6 Investments L.P. lifted its holdings in Control4 by 386.0% during the 3rd quarter. PEAK6 Investments L.P. now owns 93,172 shares of the electronics maker’s stock worth $2,745,000 after purchasing an additional 74,000 shares during the last quarter. 77.64% of the stock is owned by institutional investors.
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Control4 Company Profile
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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