Cimpress (NASDAQ:CMPR) Shares Gap Down Following Weak Earnings

Cimpress plc (NASDAQ:CMPR) gapped down before the market opened on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $74.23, but opened at $61.49. Cimpress shares last traded at $66.14, with a volume of 64,293 shares trading hands.

The business services provider reported $2.36 EPS for the quarter, missing the consensus estimate of $2.52 by ($0.16). Cimpress had a negative return on equity of 27.15% and a net margin of 4.69%.

Analysts Set New Price Targets

CMPR has been the subject of a number of recent analyst reports. Truist Financial reduced their target price on Cimpress from $120.00 to $110.00 and set a “buy” rating for the company in a report on Friday, November 1st. StockNews.com upgraded Cimpress from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 23rd. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $119.00 price target on shares of Cimpress in a report on Wednesday.

Institutional Investors Weigh In On Cimpress

A number of hedge funds have recently made changes to their positions in CMPR. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Cimpress by 54.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 26,420 shares of the business services provider’s stock worth $2,164,000 after purchasing an additional 9,324 shares during the period. Sequoia Financial Advisors LLC bought a new stake in shares of Cimpress in the 3rd quarter worth approximately $7,582,000. Diamond Hill Capital Management Inc. increased its stake in shares of Cimpress by 6.3% during the third quarter. Diamond Hill Capital Management Inc. now owns 450,253 shares of the business services provider’s stock valued at $36,885,000 after buying an additional 26,727 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Cimpress by 1.0% during the third quarter. JPMorgan Chase & Co. now owns 21,937 shares of the business services provider’s stock valued at $1,797,000 after acquiring an additional 215 shares in the last quarter. Finally, Hennessy Advisors Inc. lifted its stake in Cimpress by 6.9% in the fourth quarter. Hennessy Advisors Inc. now owns 110,400 shares of the business services provider’s stock worth $7,918,000 after acquiring an additional 7,100 shares during the period. 77.64% of the stock is currently owned by institutional investors.

Cimpress Stock Down 9.2 %

The firm has a market cap of $1.70 billion, a P/E ratio of 11.50, a PEG ratio of 0.66 and a beta of 2.09. The firm’s fifty day moving average is $75.75 and its two-hundred day moving average is $81.54.

About Cimpress

Cimpress plc provides various mass customization of printing and related products in North America, Europe, and internationally. The company operates through five segments: Vista, PrintBrothers, The Print Group, National Pen, and All Other Businesses. It offers printed and digital marketing products; internet-based canvas-print wall décor, business signage, and other printed products; business cards; and marketing materials, such as flyers and postcards, digital and marketing services, writing instruments, decorated apparel, promotional products and gifts, packaging, design services, textiles, and magazines and catalogs.