Zacks Investment Research cut shares of Control4 Corporation (NASDAQ:CTRL) from a buy rating to a hold rating in a research note published on Monday 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. “
Several other brokerages also recently weighed in on CTRL. Needham & Company LLC reaffirmed a buy rating and issued a $27.00 target price (up previously from $25.00) on shares of Control4 Corporation in a research report on Monday, September 11th. Cowen and Company raised Control4 Corporation from a market perform rating to an outperform rating and upped their target price for the stock from $22.00 to $30.00 in a research report on Friday, September 8th. Finally, BidaskClub downgraded Control4 Corporation from a strong-buy rating to a buy rating in a research report on Tuesday, August 22nd. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $21.88.
Shares of Control4 Corporation (NASDAQ CTRL) traded up 0.43% during trading on Monday, hitting $30.62. The stock had a trading volume of 20,689 shares. The firm has a market cap of $761.06 million, a price-to-earnings ratio of 74.68 and a beta of -0.57. The stock has a 50-day moving average of $27.57 and a 200 day moving average of $21.55. Control4 Corporation has a 12-month low of $9.97 and a 12-month high of $30.83.
Control4 Corporation (NASDAQ:CTRL) last issued its earnings results on Thursday, August 3rd. The electronics maker reported $0.32 earnings per share for the quarter, topping the Thomson Reuters’ 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 company had revenue of $61.40 million during the quarter, compared to the consensus estimate of $60.70 million. During the same quarter in the prior year, the business earned $0.23 earnings per share. The company’s revenue was up 15.4% compared to the same quarter last year. On average, analysts predict that Control4 Corporation will post $1.04 earnings per share for the current fiscal year.
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In other Control4 Corporation news, CFO Mark Novakovich sold 2,168 shares of the 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 transaction, the chief financial officer now owns 18,495 shares of the company’s stock, valued at approximately $422,980.65. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Susan Cashen sold 1,768 shares of the stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $22.87, for a total value of $40,434.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,546 shares of company stock worth $194,603. 6.10% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the business. Legal & General Group Plc lifted its holdings in 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 buying an additional 577 shares during the last quarter. UBS Group AG lifted its holdings in 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 buying an additional 458 shares during the last quarter. American International Group Inc. lifted its holdings in 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 buying an additional 822 shares during the last quarter. AXA bought a new position in Control4 Corporation during the 1st quarter worth approximately $204,000. Finally, Voya Investment Management LLC bought a new position in Control4 Corporation during the 2nd quarter worth approximately $213,000. 74.27% of the stock is currently owned by institutional investors.
Control4 Corporation 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.
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