DA Davidson Lowers CPI Card Group (NASDAQ:PMTS) Price Target to $32.00

Key Points

• DA Davidson has lowered the price target for CPI Card Group from $38.00 to $32.00, maintaining a "buy" rating, which indicates a potential upside of 99.25% from the current stock price.
• Institutional investors have shown increased interest in CPI Card Group, with significant stakes acquired by firms such as Vector Capital Management and Marshall Wace LLP.
• CPI Card Group's share price recently rose by 16.9%, bringing their stock to $16.06, despite reporting a miss on earnings per share for the latest quarter.

CPI Card Group (NASDAQ:PMTS - Get Free Report) had its target price dropped by DA Davidson from $38.00 to $32.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the stock. DA Davidson's target price suggests a potential upside of 99.25% from the company's current price.

Several other brokerages also recently weighed in on PMTS. Wall Street Zen upgraded shares of CPI Card Group from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Lake Street Capital reduced their price target on shares of CPI Card Group from $35.00 to $30.00 and set a "buy" rating for the company in a research report on Monday. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $34.00.

CPI Card Group Stock Up 16.9%

Shares of PMTS traded up $2.32 during trading on Tuesday, reaching $16.06. 279,172 shares of the company traded hands, compared to its average volume of 47,570. The stock has a market cap of $181.16 million, a PE ratio of 14.34 and a beta of 1.31. The stock has a 50-day simple moving average of $21.64 and a 200-day simple moving average of $24.94. CPI Card Group has a twelve month low of $12.52 and a twelve month high of $35.19.

CPI Card Group (NASDAQ:PMTS - Get Free Report) last issued its quarterly earnings results on Friday, August 8th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.56 by ($0.52). The firm had revenue of $129.75 million during the quarter, compared to analysts' expectations of $132.96 million. CPI Card Group had a negative return on equity of 55.18% and a net margin of 2.66%. On average, equities research analysts predict that CPI Card Group will post 1.63 EPS for the current year.

Hedge Funds Weigh In On CPI Card Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vector Capital Management L.P. lifted its holdings in shares of CPI Card Group by 38.4% during the 4th quarter. Vector Capital Management L.P. now owns 360,318 shares of the company's stock worth $10,770,000 after acquiring an additional 100,000 shares during the period. Wasatch Advisors LP acquired a new stake in CPI Card Group in the fourth quarter valued at approximately $10,175,000. Geode Capital Management LLC grew its position in CPI Card Group by 12.6% in the second quarter. Geode Capital Management LLC now owns 125,500 shares of the company's stock valued at $2,977,000 after acquiring an additional 14,039 shares in the last quarter. Marshall Wace LLP grew its position in CPI Card Group by 112.2% in the fourth quarter. Marshall Wace LLP now owns 82,877 shares of the company's stock valued at $2,477,000 after acquiring an additional 43,814 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of CPI Card Group during the first quarter worth approximately $1,685,000. 22.08% of the stock is owned by institutional investors and hedge funds.

CPI Card Group Company Profile

CPI Card Group Inc, together with its subsidiaries, engages in the design, production, data personalization, packaging, and fulfillment of financial payment cards. It operates through Debit and Credit, and Prepaid Debit segments. The Debit and Credit segment produces financial payment cards and provides integrated card services to card-issuing financial institutions.

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