Zacks Investment Research Downgrades CPI Card Group (NASDAQ:PMTS) to Sell

Zacks Investment Research lowered shares of CPI Card Group (NASDAQ:PMTS) (TSE:PNT) from a hold rating to a sell rating in a research note issued to investors on Saturday, March 17th.

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. “

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Several other equities analysts have also commented on PMTS. Robert W. Baird reissued a hold rating and set a $5.00 price target on shares of CPI Card Group in a research report on Thursday, December 21st. ValuEngine raised CPI Card Group from a sell rating to a hold rating in a research report on Wednesday, December 20th. Three analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The company has a consensus rating of Hold and an average target price of $5.75.

Shares of NASDAQ:PMTS traded down $0.13 during trading on Friday, reaching $2.55. 32,631 shares of the stock were exchanged, compared to its average volume of 35,550. The company has a debt-to-equity ratio of -2.54, a quick ratio of 2.12 and a current ratio of 2.59. CPI Card Group has a 12-month low of $2.45 and a 12-month high of $21.00. The stock has a market capitalization of $28.39, a P/E ratio of -8.23 and a beta of -0.56.

CPI Card Group (NASDAQ:PMTS) (TSE:PNT) last issued its earnings results on Monday, March 12th. The credit services provider reported ($0.07) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.22) by $0.15. The firm had revenue of $64.96 million for the quarter, compared to analysts’ expectations of $60.44 million. analysts predict that CPI Card Group will post -0.82 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in PMTS. State Street Corp raised its position in shares of CPI Card Group by 37.0% during the 2nd quarter. State Street Corp now owns 372,496 shares of the credit services provider’s stock valued at $1,062,000 after acquiring an additional 100,594 shares in the last quarter. Commonwealth Equity Services Inc raised its position in shares of CPI Card Group by 108.4% during the 3rd quarter. Commonwealth Equity Services Inc now owns 203,869 shares of the credit services provider’s stock valued at $240,000 after acquiring an additional 106,064 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of CPI Card Group during the 4th quarter valued at approximately $442,000. MUFG Americas Holdings Corp acquired a new stake in shares of CPI Card Group during the 3rd quarter valued at approximately $118,000. Finally, Dimensional Fund Advisors LP raised its position in shares of CPI Card Group by 181.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 61,110 shares of the credit services provider’s stock valued at $174,000 after acquiring an additional 39,359 shares in the last quarter. 11.55% of the stock is currently owned by institutional investors.

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About CPI Card Group

CPI Card Group Inc, formerly CPI Holdings I, Inc, provides Financial Payment Card solutions in North America. The Company is engaged in the design, production, data personalization, packaging and fulfillment of Financial Payment Cards, which it defines as credit cards, debit cards and prepaid debit cards issued on the networks of the Payment Card Brands in the United States, Europe and Canada.

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