Zacks Research Downgrades Cimpress (NASDAQ:CMPR) to Hold

Key Points

• Zacks Research downgraded Cimpress from “strong buy” to “hold,” although the broader analyst consensus remains “Moderate Buy” with a $114.50 price target.
• Cimpress shares opened at $94.46 after falling 3.0%; the company recently reported quarterly EPS of $0.97, missing the $1.22 consensus estimate, while revenue was roughly in line with expectations.
• Insiders sold 34,489 shares worth approximately $3.55 million over the past 90 days, while institutional investors own 77.64% of the company.

Cimpress (NASDAQ:CMPR - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report released on Thursday,Zacks.com reports.

A number of other research firms have also recently weighed in on CMPR. Truist Financial lowered their price objective on Cimpress from $110.00 to $108.00 and set a "buy" rating on the stock in a research report on Friday, July 31st. Weiss Ratings raised shares of Cimpress from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday. Barrington Research set a $121.00 target price on shares of Cimpress in a research note on Tuesday. Finally, Wall Street Zen downgraded shares of Cimpress from a "buy" rating to a "hold" rating in a report on Saturday. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $114.50.

Cimpress Trading Down 3.0%

CMPR opened at $94.46 on Thursday. The firm's 50 day simple moving average is $95.63 and its two-hundred day simple moving average is $85.95. The company has a market capitalization of $2.30 billion, a PE ratio of 25.06 and a beta of 1.80. Cimpress has a 1-year low of $56.34 and a 1-year high of $106.57.

Cimpress (NASDAQ:CMPR - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The business services provider reported $0.97 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.22 by ($0.25). Cimpress had a net margin of 2.57% and a negative return on equity of 18.83%. The business had revenue of $944.96 million for the quarter, compared to the consensus estimate of $945.53 million. Equities analysts forecast that Cimpress will post 4.45 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Sean Edward Quinn sold 22,980 shares of the company's stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $104.61, for a total value of $2,403,937.80. Following the completion of the transaction, the executive vice president owned 28,937 shares of the company's stock, valued at $3,027,099.57. This represents a 44.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Robert S. Keane sold 6,500 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $96.09, for a total value of $624,585.00. Following the sale, the chief executive officer owned 76,177 shares of the company's stock, valued at $7,319,847.93. This represents a 7.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 34,489 shares of company stock worth $3,550,561 over the last 90 days. Company insiders own 10.20% of the company's stock.

Institutional Investors Weigh In On Cimpress

Institutional investors and hedge funds have recently modified their holdings of the stock. Amundi lifted its holdings in shares of Cimpress by 73.5% in the first quarter. Amundi now owns 7,385 shares of the business services provider's stock worth $328,000 after buying an additional 3,129 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Cimpress by 2.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,992 shares of the business services provider's stock valued at $452,000 after acquiring an additional 282 shares during the last quarter. Legal & General Group Plc increased its holdings in Cimpress by 4.2% in the 2nd quarter. Legal & General Group Plc now owns 18,483 shares of the business services provider's stock valued at $869,000 after acquiring an additional 751 shares during the last quarter. Prudential Financial Inc. purchased a new stake in Cimpress in the 2nd quarter worth $211,000. Finally, Hsbc Holdings PLC lifted its stake in Cimpress by 15.3% in the 2nd quarter. Hsbc Holdings PLC now owns 11,218 shares of the business services provider's stock worth $520,000 after purchasing an additional 1,492 shares in the last quarter. Institutional investors own 77.64% of the company's stock.

About Cimpress

Cimpress NV is a global leader in mass customization and web-to-print services, offering businesses and consumers an online platform to design, order and personalize printed marketing materials and promotional products. As the parent company of Vistaprint and a portfolio of regional print service providers, Cimpress leverages proprietary technology to connect millions of small- and medium-sized customers with a network of manufacturing facilities around the world. Its product range spans business cards, brochures, signage, labels, apparel, packaging and a variety of bespoke merchandise.

The company traces its roots to Vistaprint, founded in 1995 by Robert W.

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