Zacks Investment Research upgraded shares of Control4 (NASDAQ:CTRL) from a strong sell rating to a hold rating in a research report sent to investors on Wednesday morning.
According to Zacks, “Control4 Corporation is engaged in providing automation and control solutions for the connected home. The Company offers home operating system that interacts with various music, video, lighting, temperature, security, and communications. It also provides 4Sight subscription services, which allow consumers to control and monitor their homes remotely from their smartphone, tablet, or laptop. Control4 Corporation is headquartered in Salt Lake City, Utah. “
Other equities analysts have also issued research reports about the stock. Maxim Group upgraded shares of Control4 from a hold rating to a buy rating and increased their price target for the company from $33.00 to $36.00 in a research report on Friday, February 9th. Cowen restated a buy rating on shares of Control4 in a research report on Tuesday, January 9th. Needham & Company LLC restated a buy rating and set a $30.00 price target on shares of Control4 in a research report on Friday, November 3rd. BidaskClub upgraded shares of Control4 from a hold rating to a buy rating in a research report on Wednesday, December 20th. Finally, Imperial Capital increased their price target on shares of Control4 from $28.00 to $30.00 and gave the company an in-line rating in a research report on Tuesday, January 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. Control4 currently has a consensus rating of Hold and an average target price of $30.67.
Control4 (NASDAQ:CTRL) last posted its earnings results on Thursday, February 8th. The electronics maker reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.05. Control4 had a net margin of 6.53% and a return on equity of 12.74%. The firm had revenue of $68.34 million during the quarter, compared to analyst estimates of $67.21 million. During the same quarter in the prior year, the business posted $0.31 EPS. The business’s revenue was up 19.1% compared to the same quarter last year. equities analysts expect that Control4 will post 0.79 earnings per share for the current year.
Control4 declared that its board has authorized a stock buyback plan on Thursday, February 8th that authorizes the company to buyback $20.00 million in shares. This buyback authorization authorizes the electronics maker to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.
In other Control4 news, CEO Martin Plaehn sold 5,304 shares of the stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $33.27, for a total transaction of $176,464.08. Following the completion of the transaction, the chief executive officer now owns 52,120 shares in the company, valued at $1,734,032.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Greg Bishop sold 2,178 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $25.58, for a total transaction of $55,713.24. Following the transaction, the insider now owns 15,962 shares of the company’s stock, valued at approximately $408,307.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,314 shares of company stock valued at $2,588,722. 6.10% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of CTRL. Stifel Financial Corp bought a new position in Control4 during the third quarter worth about $12,680,000. Dimensional Fund Advisors LP boosted its position in Control4 by 100.4% during the second quarter. Dimensional Fund Advisors LP now owns 802,857 shares of the electronics maker’s stock worth $15,744,000 after purchasing an additional 402,208 shares during the period. Bank of New York Mellon Corp boosted its position in Control4 by 37.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,355,094 shares of the electronics maker’s stock worth $40,328,000 after purchasing an additional 369,236 shares during the period. Allianz Asset Management GmbH boosted its position in Control4 by 1,275.0% during the fourth quarter. Allianz Asset Management GmbH now owns 314,865 shares of the electronics maker’s stock worth $9,370,000 after purchasing an additional 291,965 shares during the period. Finally, Penserra Capital Management LLC boosted its position in Control4 by 258.5% during the fourth quarter. Penserra Capital Management LLC now owns 309,644 shares of the electronics maker’s stock worth $9,215,000 after purchasing an additional 223,267 shares during the period. Hedge funds and other institutional investors own 75.53% of the company’s stock.
Control4 Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Control4 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Control4 and related companies with MarketBeat.com's FREE daily email newsletter.