Cimpress (CMPR) Lifted to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Cimpress (NASDAQ:CMPR) from a hold rating to a buy rating in a research note issued to investors on Tuesday. The brokerage currently has $137.00 price target on the business services provider’s stock.
According to Zacks, “Cimpress has outperformed the industry year to date. It is making steady progress with investments in new markets and the business strategy is now focused on quality products and delivery, increased customer service and more transparent pricing. Management has also decided to implement a radical change in the organizational structure by decentralizing operations in order to improve accountability for customer satisfaction and capital returns, simplify decision-making and improve the speed of execution. In addition, Cimpress has been acquiring firms with complementary product offerings and expects to ramp up its revenues with operating synergies through economies of scale and technological collaboration to serve a wide spectrum of customers across the globe. However, headwinds in currency translation could add to the woes as almost half of its revenues are generated outside the United States.”
Other equities research analysts have also recently issued reports about the stock. SunTrust Banks reaffirmed a hold rating and issued a $85.00 target price on shares of Cimpress in a report on Wednesday, August 16th. Barrington Research reissued a buy rating and issued a $125.00 price target (up from $110.00) on shares of Cimpress in a report on Tuesday, November 14th. Finally, ValuEngine raised shares of Cimpress from a sell rating to a hold rating in a report on Friday, September 1st. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $109.40.
Shares of Cimpress (NASDAQ:CMPR) traded up $0.37 during mid-day trading on Tuesday, hitting $121.80. 200,600 shares of the stock were exchanged, compared to its average volume of 219,312. The company has a current ratio of 0.52, a quick ratio of 0.39 and a debt-to-equity ratio of 10.73. Cimpress has a 12 month low of $78.80 and a 12 month high of $123.76.
In other news, EVP Donald Leblanc sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $119.00, for a total transaction of $238,000.00. Following the transaction, the executive vice president now directly owns 23,984 shares of the company’s stock, valued at $2,854,096. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sean Edward Quinn sold 1,659 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $100.00, for a total transaction of $165,900.00. Following the transaction, the chief financial officer now directly owns 1,526 shares in the company, valued at $152,600. The disclosure for this sale can be found here. Over the last three months, insiders sold 42,553 shares of company stock worth $4,609,185. Insiders own 11.80% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Amussen Hunsaker Associates LLC increased its holdings in shares of Cimpress by 12.1% during the third quarter. Amussen Hunsaker Associates LLC now owns 76,566 shares of the business services provider’s stock worth $7,477,000 after purchasing an additional 8,253 shares during the period. California Public Employees Retirement System increased its holdings in shares of Cimpress by 7.0% during the third quarter. California Public Employees Retirement System now owns 66,990 shares of the business services provider’s stock worth $6,542,000 after purchasing an additional 4,390 shares during the period. Janus Henderson Group PLC bought a new position in shares of Cimpress during the third quarter worth approximately $398,436,000. PEAK6 Investments L.P. bought a new position in shares of Cimpress during the third quarter worth approximately $1,131,000. Finally, Oppenheimer Asset Management Inc. increased its holdings in shares of Cimpress by 32.6% during the third quarter. Oppenheimer Asset Management Inc. now owns 3,161 shares of the business services provider’s stock worth $309,000 after purchasing an additional 778 shares during the period.
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Cimpress N.V., formerly Vistaprint N.V., is a technology driven company, which aggregates through the Internet, large volumes of small, individually customized orders for a spectrum of print, signage, apparel and similar products. The Company operates through segments, which include Vistaprint business unit, Upload and Print business units and All Other business units.
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