Lake Street Capital Cuts CPI Card Group (NASDAQ:PMTS) Price Target to $30.00

Key Points

• Lake Street Capital has reduced its price target for CPI Card Group from $35.00 to $30.00, while maintaining a "buy" rating, indicating a potential upside of 112.39% from the stock's previous close.
• CPI Card Group's stock has experienced a 12-month trading range with a low of $12.52 and a high of $35.19, currently trading at $14.13.
• Recent earnings reports indicated that CPI Card Group missed analyst estimates for earnings per share and revenue, reporting $0.04 EPS against a consensus of $0.56.

CPI Card Group (NASDAQ:PMTS - Get Free Report) had its price target lowered by analysts at Lake Street Capital from $35.00 to $30.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Lake Street Capital's price target suggests a potential upside of 112.39% from the stock's previous close.

Separately, Wall Street Zen raised CPI Card Group from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, CPI Card Group currently has an average rating of "Buy" and an average target price of $35.50.

CPI Card Group Price Performance

NASDAQ:PMTS traded up $0.88 during mid-day trading on Monday, reaching $14.13. The company's stock had a trading volume of 138,642 shares, compared to its average volume of 45,603. The company's fifty day simple moving average is $21.81 and its two-hundred day simple moving average is $25.04. CPI Card Group has a twelve month low of $12.52 and a twelve month high of $35.19. The stock has a market cap of $159.34 million, a P/E ratio of 12.61 and a beta of 1.31.

CPI Card Group (NASDAQ:PMTS - Get Free Report) last released its quarterly earnings data on Friday, August 8th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.52). The firm had revenue of $129.75 million during the quarter, compared to analyst estimates of $132.96 million. CPI Card Group had a net margin of 2.66% and a negative return on equity of 55.18%. Sell-side analysts expect that CPI Card Group will post 1.63 EPS for the current fiscal year.

Hedge Funds Weigh In On CPI Card Group

A number of hedge funds have recently modified their holdings of the stock. Vector Capital Management L.P. raised its holdings in shares of CPI Card Group by 38.4% in the 4th quarter. Vector Capital Management L.P. now owns 360,318 shares of the company's stock worth $10,770,000 after buying an additional 100,000 shares in the last quarter. Wasatch Advisors LP bought a new position in CPI Card Group in the fourth quarter valued at about $10,175,000. Geode Capital Management LLC boosted its holdings 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 during the last quarter. Marshall Wace LLP boosted its holdings 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 during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of CPI Card Group during the first quarter worth $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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