Cimpress N.V (NASDAQ:CMPR) was upgraded by Zacks Investment Research from a hold rating to a buy rating in a research report issued to clients and investors on Tuesday, October 24th. The brokerage currently has a $121.00 price objective on the business services providers stock. Zacks Investment Researchs price target would suggest a potential upside of 10.87% from the companys current price.
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. 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. 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. However, headwinds in currency translation could add to the woes as almost half of its revenues are generated outside the United States.
Other research analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Cimpress N.V from a strong-buy rating to a buy rating in a research report on Monday, July 24th. ValuEngine raised shares of Cimpress N.V from a sell rating to a hold rating in a research report on Friday, September 1st. SunTrust Banks, Inc. reissued a hold rating and set a $85.00 target price on shares of Cimpress N.V in a research report on Wednesday, August 16th. Cantor Fitzgerald reissued a hold rating on shares of Cimpress N.V in a research report on Monday, June 26th. Finally, Barrington Research raised shares of Cimpress N.V from a market perform rating to an outperform rating and set a $110.00 target price on the stock in a research report on Monday, September 18th. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $96.17.
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In related news, CFO Sean Edward Quinn sold 1,659 shares of Cimpress N.V stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $100.00, for a total value of $165,900.00. Following the completion of the sale, the chief financial officer now directly owns 1,526 shares in the company, valued at approximately $152,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Katryn Blake sold 20,842 shares of Cimpress N.V 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 $2,084,200.00. The disclosure for this sale can be found here. Insiders sold a total of 24,475 shares of company stock worth $2,435,265 over the last 90 days. Company insiders own 11.80% of the companys stock.
Hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio boosted its stake in Cimpress N.V by 57.1% in the 2nd quarter. Strs Ohio now owns 1,100 shares of the business services providers stock worth $103,000 after purchasing an additional 400 shares in the last quarter. Legato Capital Management LLC acquired a new stake in Cimpress N.V during the 2nd quarter valued at approximately $217,000. Oppenheimer Asset Management Inc. acquired a new stake in Cimpress N.V during the 1st quarter valued at approximately $218,000. Ameritas Investment Partners Inc. lifted its stake in Cimpress N.V by 20.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,620 shares of the business services providers stock valued at $247,000 after acquiring an additional 453 shares during the period. Finally, D.A. Davidson & CO. lifted its stake in Cimpress N.V by 1.7% during the 2nd quarter. D.A. Davidson & CO. now owns 3,109 shares of the business services providers stock valued at $293,000 after acquiring an additional 52 shares during the period. Institutional investors own 89.15% of the companys stock.
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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