Control4 Corporation (CTRL) Earns Buy Rating from Needham & Company LLC
Needham & Company LLC reissued their buy rating on shares of Control4 Corporation (NASDAQ:CTRL) in a research report sent to investors on Monday morning, MarketBeat Ratings reports. The firm currently has a $27.00 price target on the electronics maker’s stock, up from their prior price target of $25.00.
A number of other analysts have also issued reports on CTRL. Imperial Capital raised their target price on Control4 Corporation from $16.00 to $19.00 and gave the company an in-line rating in a report on Monday, May 15th. Zacks Investment Research lowered Control4 Corporation from a strong-buy rating to a hold rating in a report on Monday, July 10th. BidaskClub lowered Control4 Corporation from a strong-buy rating to a buy rating in a report on Tuesday, July 25th. Finally, Cowen and Company set a $22.00 target price on Control4 Corporation and gave the company a hold rating in a report on Friday, August 4th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $21.88.
Control4 Corporation (CTRL) opened at 27.15 on Monday. The stock has a market capitalization of $674.81 million, a PE ratio of 66.22 and a beta of -0.62. Control4 Corporation has a 1-year low of $9.97 and a 1-year high of $27.59. The stock’s 50 day moving average price is $23.85 and its 200 day moving average price is $19.41.
Control4 Corporation (NASDAQ:CTRL) last issued its quarterly earnings data on Thursday, August 3rd. The electronics maker reported $0.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.09. Control4 Corporation had a return on equity of 10.77% and a net margin of 4.70%. The business had revenue of $61.40 million for the quarter, compared to the consensus estimate of $60.70 million. During the same period last year, the business earned $0.23 EPS. The firm’s revenue was up 15.4% compared to the same quarter last year. Equities research analysts forecast that Control4 Corporation will post $1.04 earnings per share for the current year.
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In other news, CFO Mark Novakovich sold 2,168 shares of Control4 Corporation stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $22.87, for a total transaction of $49,582.16. Following the sale, the chief financial officer now owns 18,495 shares of the company’s stock, valued at approximately $422,980.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Greg Bishop sold 2,254 shares of Control4 Corporation stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $22.83, for a total value of $51,458.82. Following the sale, the insider now directly owns 14,295 shares in the company, valued at approximately $326,354.85. The disclosure for this sale can be found here. Insiders sold a total of 8,546 shares of company stock worth $194,603 in the last ninety days. Insiders own 6.10% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Alps Advisors Inc. grew its holdings in shares of Control4 Corporation by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 32,663 shares of the electronics maker’s stock worth $641,000 after purchasing an additional 84 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Control4 Corporation by 0.4% during the 2nd quarter. First Trust Advisors LP now owns 34,166 shares of the electronics maker’s stock worth $670,000 after purchasing an additional 142 shares in the last quarter. UBS Group AG grew its holdings in shares of Control4 Corporation by 6.3% during the 1st quarter. UBS Group AG now owns 7,727 shares of the electronics maker’s stock worth $122,000 after purchasing an additional 458 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Control4 Corporation by 11.7% during the 2nd quarter. Legal & General Group Plc now owns 5,506 shares of the electronics maker’s stock worth $107,000 after purchasing an additional 577 shares in the last quarter. Finally, American International Group Inc. grew its holdings in shares of Control4 Corporation by 7.1% during the 1st quarter. American International Group Inc. now owns 12,377 shares of the electronics maker’s stock worth $195,000 after purchasing an additional 822 shares in the last quarter. 74.27% of the stock is currently owned by institutional investors.
About Control4 Corporation
Control4 Corporation (Control4) is a provider of smart home and business solutions. The Company’s smart home and small business solutions provide consumers with the ability to integrate audio, video, lighting, temperature, security, communications, network management and other functionalities into a unified automation solution, customized to match their lifestyles and business needs.
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