DA Davidson Has Lowered Expectations for CPI Card Group (NASDAQ:PMTS) Stock Price

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 - Free Report) had its target price trimmed by DA Davidson from $38.00 to $32.00 in a report issued on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other research analysts also recently issued reports about the stock. Lake Street Capital decreased their price target on shares of CPI Card Group from $35.00 to $30.00 and set a "buy" rating on the stock in a research note on Monday, August 11th. Wall Street Zen upgraded shares of CPI Card Group from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, CPI Card Group currently has an average rating of "Moderate Buy" and a consensus price target of $34.00.

CPI Card Group Trading Down 0.7%

NASDAQ PMTS traded down $0.11 on Tuesday, hitting $15.61. 82,098 shares of the company were exchanged, compared to its average volume of 80,747. The stock has a fifty day moving average of $21.16 and a 200-day moving average of $24.57. CPI Card Group has a 12 month low of $12.52 and a 12 month high of $35.19. The company has a market cap of $177.02 million, a PE ratio of 13.94 and a beta of 1.31.

CPI Card Group (NASDAQ:PMTS - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $129.75 million for the quarter, compared to analysts' expectations of $132.96 million. CPI Card Group had a negative return on equity of 58.00% and a net margin of 2.66%. On average, analysts expect that CPI Card Group will post 1.63 earnings per share for the current year.

Insider Transactions at CPI Card Group

In other CPI Card Group news, Chairman H Sanford Riley purchased 10,000 shares of the stock in a transaction dated Tuesday, August 12th. The stock was acquired at an average cost of $15.75 per share, for a total transaction of $157,500.00. Following the acquisition, the chairman owned 31,033 shares in the company, valued at $488,769.75. This trade represents a 47.54% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of PMTS. US Bancorp DE acquired a new position in CPI Card Group in the first quarter valued at $33,000. Russell Investments Group Ltd. boosted its holdings in CPI Card Group by 1,635.8% in the fourth quarter. Russell Investments Group Ltd. now owns 1,649 shares of the company's stock valued at $49,000 after purchasing an additional 1,554 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in CPI Card Group by 44.9% in the fourth quarter. Wells Fargo & Company MN now owns 2,503 shares of the company's stock valued at $75,000 after purchasing an additional 776 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in CPI Card Group by 355.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,665 shares of the company's stock worth $80,000 after buying an additional 2,080 shares during the last quarter. Finally, Virtus Investment Advisers Inc. bought a new position in CPI Card Group during the 4th quarter worth approximately $84,000. Institutional investors and hedge funds own 22.08% of the company's stock.

About CPI Card Group

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.