Zacks Investment Research cut shares of CPI Card Group (NASDAQ:PMTS) (TSE:PNT) from a strong-buy rating to a hold rating in a research report released on Wednesday morning.
According to Zacks, “CPI Card Group Inc. is engaged in financial card production and related services under the VISA, MasterCard, American Express and Discover payment brands. The company offers a single source for cards and other form factors, from financial and prepaid debit to EMV chip and mobile, instant issuance, personalization and fulfillment services. CPI Card Group Inc. is headquartered in Littleton, Colorado. “
Separately, Craig Hallum set a $5.00 price target on shares of CPI Card Group and gave the stock a buy rating in a report on Friday, September 21st. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company has an average rating of Hold and a consensus target price of $4.88.
CPI Card Group (NASDAQ:PMTS) (TSE:PNT) last announced its quarterly earnings results on Thursday, August 9th. The credit services provider reported $0.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.25) by $0.35. The firm had revenue of $61.45 million for the quarter, compared to analysts’ expectations of $64.86 million. On average, research analysts anticipate that CPI Card Group will post -0.45 EPS for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in PMTS. Weber Alan W purchased a new stake in CPI Card Group during the second quarter worth $200,000. CIBC World Markets Inc. boosted its holdings in CPI Card Group by 73.3% during the first quarter. CIBC World Markets Inc. now owns 85,720 shares of the credit services provider’s stock worth $258,000 after buying an additional 36,255 shares in the last quarter. Finally, Thompson Investment Management Inc. boosted its holdings in CPI Card Group by 31.2% during the second quarter. Thompson Investment Management Inc. now owns 151,310 shares of the credit services provider’s stock worth $303,000 after buying an additional 36,000 shares in the last quarter. 8.09% of the stock is currently owned by hedge funds and other institutional investors.
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 U.S. Debit and Credit, U.S. Prepaid Debit, and U.K. Limited segments. The U.S. Debit and Credit segment produces financial payment cards and provides integrated card services to card-issuing banks in the United States.
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