CPI Card Group (NASDAQ:PMTS) (TSE:PNT) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday, Zacks.com reports. The brokerage presently has a $3.00 price target on the credit services provider’s stock. Zacks Investment Research‘s target price suggests a potential downside of 7.69% from the company’s previous close.
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. “
Several other brokerages have also weighed in on PMTS. Barrington Research reiterated a “hold” rating on shares of CPI Card Group in a research report on Wednesday, July 3rd. ValuEngine lowered CPI Card Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th.
CPI Card Group (NASDAQ:PMTS) (TSE:PNT) last issued its quarterly earnings data on Wednesday, August 7th. The credit services provider reported $0.14 earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.31. The business had revenue of $66.90 million during the quarter, compared to analysts’ expectations of $67.05 million. Equities research analysts predict that CPI Card Group will post -0.5 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in PMTS. Wells Fargo & Company MN boosted its position in shares of CPI Card Group by 90,909.1% during the second quarter. Wells Fargo & Company MN now owns 10,011 shares of the credit services provider’s stock worth $25,000 after buying an additional 10,000 shares during the period. Emerald Mutual Fund Advisers Trust purchased a new position in shares of CPI Card Group during the first quarter worth $119,000. Finally, Balter Liquid Alternatives LLC boosted its position in shares of CPI Card Group by 11.9% during the second quarter. Balter Liquid Alternatives LLC now owns 66,201 shares of the credit services provider’s stock worth $170,000 after buying an additional 7,047 shares during the period. Institutional investors and hedge funds own 8.37% of the company’s stock.
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 Other 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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