B. Riley Forecasts Strong Price Appreciation for CPI Card Group (NASDAQ:PMTS) Stock

CPI Card Group (NASDAQ:PMTS) had its price objective raised by analysts at B. Riley from $33.00 to $34.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. B. Riley’s target price points to a potential upside of 20.06% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on PMTS. DA Davidson reiterated a “buy” rating and set a $36.00 price objective on shares of CPI Card Group in a research report on Tuesday, February 25th. Lake Street Capital raised their price objective on CPI Card Group from $33.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $40.00 target price on shares of CPI Card Group in a report on Wednesday. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $37.25.

CPI Card Group Stock Down 2.4 %

CPI Card Group stock opened at $28.32 on Wednesday. The stock has a market cap of $316.02 million, a PE ratio of 21.62 and a beta of 1.43. CPI Card Group has a 12-month low of $15.00 and a 12-month high of $35.19. The business’s 50-day moving average price is $30.11 and its two-hundred day moving average price is $28.44.

Hedge Funds Weigh In On CPI Card Group

Hedge funds have recently made changes to their positions in the stock. Wasatch Advisors LP acquired a new stake in CPI Card Group during the 4th quarter valued at approximately $10,175,000. Pacific Ridge Capital Partners LLC acquired a new stake in shares of CPI Card Group during the fourth quarter worth $4,401,000. Hillsdale Investment Management Inc. bought a new position in CPI Card Group during the fourth quarter worth $3,240,000. Vector Capital Management L.P. lifted its holdings in 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 valued at $10,770,000 after buying an additional 100,000 shares during the period. Finally, Manatuck Hill Partners LLC bought a new stake in CPI Card Group during the fourth quarter valued at $1,644,000. 22.08% of the stock is currently owned by institutional investors.

About CPI Card Group

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.