CPI Card Group (NASDAQ:PMTS) Given “Buy” Rating at DA Davidson

CPI Card Group (NASDAQ:PMTS)‘s stock had its “buy” rating reissued by equities researchers at DA Davidson in a research report issued on Thursday,Benzinga reports. They presently have a $30.00 target price on the stock. DA Davidson’s price target suggests a potential upside of 53.57% from the company’s current price.

Several other equities research analysts have also commented on PMTS. Roth Mkm restated a “buy” rating and set a $25.00 target price on shares of CPI Card Group in a research report on Tuesday, May 5th. Lake Street Capital restated a “buy” rating and issued a $27.00 price target on shares of CPI Card Group in a report on Wednesday, May 6th. Zacks Research upgraded shares of CPI Card Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 2nd. Weiss Ratings upgraded CPI Card Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 1st. Finally, Wall Street Zen raised CPI Card Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $27.50.

CPI Card Group Stock Up 3.5%

Shares of NASDAQ PMTS traded up $0.66 during midday trading on Thursday, reaching $19.54. 19,895 shares of the company were exchanged, compared to its average volume of 51,964. The stock’s 50-day moving average price is $17.35 and its 200-day moving average price is $15.39. The stock has a market cap of $224.26 million, a P/E ratio of 19.15 and a beta of 1.07. CPI Card Group has a one year low of $10.81 and a one year high of $25.50.

CPI Card Group (NASDAQ:PMTS) last released its quarterly earnings data 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. 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 for the quarter, compared to the consensus estimate of $134.69 million. On average, equities research analysts anticipate that CPI Card Group will post 2.52 EPS for the current year.

Insider Activity at CPI Card Group

In related news, insider Donna Abbey Carmignani sold 4,870 shares of the stock in a transaction that occurred 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 sale, the insider directly owned 5,478 shares of the company’s stock, valued at approximately $83,922.96. This trade represents a 47.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman H Sanford Riley purchased 6,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were acquired at an average price of $16.00 per share, for a total transaction of $104,000.00. Following the completion of the acquisition, the chairman directly owned 259,938 shares of the company’s stock, valued at $4,159,008. This trade represents a 2.56% increase in their position. The SEC filing for this purchase provides additional information. 5.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On CPI Card Group

Institutional investors have recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC purchased a new position in CPI Card Group in the fourth quarter valued at about $29,000. Lazard Asset Management LLC raised its holdings in shares of CPI Card Group by 100.4% in the 2nd quarter. Lazard Asset Management LLC now owns 2,928 shares of the company’s stock worth $69,000 after purchasing an additional 1,467 shares during the period. Los Angeles Capital Management LLC purchased a new position in CPI Card Group in the fourth quarter valued at approximately $52,000. IFP Advisors Inc grew its holdings in CPI Card Group by 37.0% during 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, Bank of America Corp DE increased its position in CPI Card Group by 98.7% in the third quarter. Bank of America Corp DE now owns 6,707 shares of the company’s stock worth $102,000 after buying an additional 3,331 shares during the last quarter. 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.