Lake Street Capital Issues Pessimistic Forecast for CPI Card Group (NASDAQ:PMTS) Stock Price

CPI Card Group (NASDAQ:PMTS) had its price objective trimmed by Lake Street Capital from $35.00 to $30.00 in a research note released on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Separately, Wall Street Zen upgraded shares of CPI Card Group from a “hold” rating to a “buy” rating in a report on Friday, July 18th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, CPI Card Group has a consensus rating of “Buy” and a consensus price target of $35.50.

CPI Card Group Stock Up 3.7%

NASDAQ PMTS opened at $13.74 on Monday. The company has a 50-day simple moving average of $21.64 and a two-hundred day simple moving average of $24.94. CPI Card Group has a 12-month low of $12.52 and a 12-month high of $35.19. The firm has a market cap of $154.99 million, a price-to-earnings ratio of 12.27 and a beta of 1.31.

CPI Card Group (NASDAQ:PMTS) last posted its earnings results on Friday, August 8th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.52). The firm 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 55.18% and a net margin of 2.66%. Equities analysts expect that CPI Card Group will post 1.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. US Bancorp DE purchased a new stake in CPI Card Group in the first quarter worth about $33,000. Russell Investments Group Ltd. lifted 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 worth $49,000 after buying an additional 1,554 shares during the period. Wells Fargo & Company MN lifted 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 worth $75,000 after buying an additional 776 shares during the period. Tower Research Capital LLC TRC lifted its holdings in CPI Card Group by 355.6% in the fourth 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 period. Finally, Virtus Investment Advisers Inc. purchased a new stake in CPI Card Group in the fourth quarter worth about $84,000. 22.08% of the stock is 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 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.