Cimpress (NASDAQ:CMPR) Sets New 1-Year High After Better-Than-Expected Earnings

Cimpress plc (NASDAQ:CMPR)’s share price hit a new 52-week high on Thursday following a better than expected earnings announcement. The stock traded as high as $82.10 and last traded at $80.9940, with a volume of 42081 shares traded. The stock had previously closed at $77.91.

The business services provider reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.34. Cimpress had a negative return on equity of 6.21% and a net margin of 1.02%.The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $993.64 million.

Analysts Set New Price Targets

Several brokerages have recently commented on CMPR. Citigroup restated an “outperform” rating on shares of Cimpress in a research report on Wednesday, October 1st. Weiss Ratings restated a “hold (c-)” rating on shares of Cimpress in a research note on Monday, December 29th. Barrington Research reaffirmed an “outperform” rating and set a $83.00 price objective on shares of Cimpress in a research note on Tuesday. Finally, Wall Street Zen upgraded shares of Cimpress from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.50.

Insiders Place Their Bets

In related news, EVP Maarten Wensveen sold 22,830 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $68.36, for a total value of $1,560,658.80. Following the sale, the executive vice president owned 20,587 shares of the company’s stock, valued at approximately $1,407,327.32. This trade represents a 52.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Sean Edward Quinn purchased 4,000 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The stock was bought at an average cost of $62.79 per share, for a total transaction of $251,160.00. Following the purchase, the executive vice president directly owned 36,484 shares in the company, valued at $2,290,830.36. This represents a 12.31% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 10.20% of the company’s stock.

Institutional Investors Weigh In On Cimpress

Institutional investors and hedge funds have recently modified their holdings of the company. First Horizon Corp acquired a new stake in shares of Cimpress in the third quarter valued at approximately $27,000. Allworth Financial LP increased its holdings in shares of Cimpress by 250.0% in the third quarter. Allworth Financial LP now owns 518 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 370 shares during the last quarter. Headlands Technologies LLC increased its stake in shares of Cimpress by 32.3% during the second quarter. Headlands Technologies LLC now owns 986 shares of the business services provider’s stock worth $46,000 after purchasing an additional 241 shares during the period. Raymond James Financial Inc. acquired a new stake in Cimpress during the 2nd quarter worth approximately $51,000. Finally, Quarry LP acquired a new position in Cimpress in the 3rd quarter valued at $55,000. 77.64% of the stock is owned by institutional investors.

Cimpress Trading Up 4.1%

The stock has a market cap of $2.00 billion, a P/E ratio of 61.94 and a beta of 1.73. The firm has a 50-day simple moving average of $72.80 and a two-hundred day simple moving average of $64.73.

About Cimpress

Cimpress NV is a global leader in mass customization and web-to-print services, offering businesses and consumers an online platform to design, order and personalize printed marketing materials and promotional products. As the parent company of Vistaprint and a portfolio of regional print service providers, Cimpress leverages proprietary technology to connect millions of small- and medium-sized customers with a network of manufacturing facilities around the world. Its product range spans business cards, brochures, signage, labels, apparel, packaging and a variety of bespoke merchandise.

The company traces its roots to Vistaprint, founded in 1995 by Robert W.