DA Davidson Forecasts Strong Price Appreciation for CPI Card Group (NASDAQ:PMTS) Stock

CPI Card Group (NASDAQ:PMTS) had its price objective increased by equities researchers at DA Davidson from $36.00 to $38.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. DA Davidson’s price objective would indicate a potential upside of 34.18% from the company’s previous close.

A number of other research firms have also weighed in on PMTS. Lake Street Capital increased their target price on shares of CPI Card Group from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. B. Riley increased their price objective on CPI Card Group from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Roth Mkm reiterated a “buy” rating and issued a $40.00 price objective on shares of CPI Card Group in a research report on Wednesday. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, CPI Card Group currently has an average rating of “Buy” and an average target price of $37.25.

CPI Card Group Stock Down 2.4 %

NASDAQ:PMTS opened at $28.32 on Wednesday. The firm has a market capitalization of $316.02 million, a P/E ratio of 21.62 and a beta of 1.43. The company has a fifty day moving average of $30.11 and a 200 day moving average of $28.44. CPI Card Group has a 52 week low of $15.00 and a 52 week high of $35.19.

Institutional Trading of CPI Card Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Vector Capital Management L.P. lifted its stake in shares of CPI Card Group by 38.4% in the fourth quarter. Vector Capital Management L.P. now owns 360,318 shares of the company’s stock worth $10,770,000 after buying an additional 100,000 shares in the last quarter. Wasatch Advisors LP purchased a new position in CPI Card Group in the 4th quarter worth approximately $10,175,000. Pacific Ridge Capital Partners LLC bought a new position in CPI Card Group in the 4th quarter valued at approximately $4,401,000. Geode Capital Management LLC boosted its stake in CPI Card Group by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 110,582 shares of the company’s stock valued at $3,306,000 after purchasing an additional 1,953 shares during the last quarter. Finally, Hillsdale Investment Management Inc. bought a new stake in shares of CPI Card Group in the 4th quarter worth $3,240,000. 22.08% of the stock is currently owned by 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.