Control4 Corporation (NASDAQ:CTRL) Raised to Buy at Zacks Investment Research

Control4 Corporation (NASDAQ:CTRL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, November 8th. The brokerage currently has a $37.00 target price on the electronics maker’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 6.72% from the stock’s current price.

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 research firms have also recently issued reports on CTRL. Maxim Group reiterated a “hold” rating and issued a $33.00 price objective on shares of Control4 in a report on Friday, November 3rd. Needham & Company LLC restated a “buy” rating and set a $30.00 target price on shares of Control4 in a report on Friday, November 3rd. Cowen Inc set a $22.00 target price on Control4 and gave the stock a “hold” rating in a report on Friday, August 4th. BidaskClub cut Control4 from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 22nd. Finally, UBS AG cut Control4 from an “outperform” rating to a “market perform” rating in a report on Friday, November 3rd. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $25.50.

Control4 (NASDAQ:CTRL) traded down $1.09 during mid-day trading on Wednesday, reaching $34.67. The company had a trading volume of 564,617 shares, compared to its average volume of 492,032. Control4 has a 12 month low of $10.08 and a 12 month high of $35.99. The firm has a market cap of $903.55, a PE ratio of 55.02, a price-to-earnings-growth ratio of 3.49 and a beta of -0.57.

Control4 (NASDAQ:CTRL) last posted its quarterly earnings data on Thursday, November 2nd. The electronics maker reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.20. Control4 had a return on equity of 11.63% and a net margin of 5.96%. The company had revenue of $64.70 million for the quarter, compared to analysts’ expectations of $63.59 million. During the same period in the previous year, the firm posted $0.26 EPS. Control4’s revenue was up 17.2% compared to the same quarter last year. equities research analysts expect that Control4 will post 0.68 EPS for the current year.

In other news, insider Greg Bishop sold 2,254 shares of Control4 stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $32.90, for a total transaction of $74,156.60. Following the sale, the insider now owns 15,961 shares of the company’s stock, valued at approximately $525,116.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Martin Plaehn sold 117,137 shares of Control4 stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $33.02, for a total transaction of $3,867,863.74. Following the sale, the chief executive officer now directly owns 169,257 shares in the company, valued at approximately $5,588,866.14. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 347,965 shares of company stock worth $11,319,882. Corporate insiders own 6.10% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Gerber Kawasaki Wealth & Investment Management purchased a new stake in Control4 in the second quarter valued at approximately $2,463,000. Vanguard Group Inc. raised its position in Control4 by 7.9% in the first quarter. Vanguard Group Inc. now owns 800,032 shares of the electronics maker’s stock valued at $12,633,000 after purchasing an additional 58,738 shares during the period. Lord Abbett & CO. LLC raised its position in Control4 by 11.3% in the second quarter. Lord Abbett & CO. LLC now owns 800,964 shares of the electronics maker’s stock valued at $15,707,000 after purchasing an additional 81,180 shares during the period. Renaissance Technologies LLC raised its position in Control4 by 38.3% in the second quarter. Renaissance Technologies LLC now owns 850,400 shares of the electronics maker’s stock valued at $16,676,000 after purchasing an additional 235,700 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Control4 by 12.3% in the first quarter. Bank of New York Mellon Corp now owns 98,864 shares of the electronics maker’s stock valued at $1,561,000 after purchasing an additional 10,814 shares during the period. 74.75% of the stock is currently owned by hedge funds and other institutional investors.

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About Control4

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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