In a report released today, Saliq Khan from Imperial Capital downgraded Control4 Corp (NASDAQ: CTRL) to Hold, with a price target of $32. The company’s shares closed yesterday at $36.51, close to its 52-week high of $37.30.
Khan noted:
“We are lowering our rating on CTRL shares to and maintaining our one- year price target of $32, about 12% below the recent share price. We continue to remain confident in management’s ability to improve margin and revenue growth and pursue strategic acquisitions. However, based on the share price as of 8/27/18, the stock is now above our price target. Rationale Growth reflected in recent stock price. On 8/2/18, CTRL reported 2Q18 results with revenue, adjusted EPS, and adjusted gross margin all above our estimates. In our report dated 8/3/18, we raised our price target to $32 from $30 (about 22% above the then share price of $26.26). The stock has now surpassed our valuation and fully reflects the company’s growth potential over the next twelve months, we believe.”
Khan has an average return of 16.3% when recommending Control4 Corp.
According to TipRanks.com, Khan is ranked #3638 out of 4866 analysts.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Control4 Corp with a $33.25 average price target.
See today’s analyst top recommended stocks >>
The company has a one-year high of $37.30 and a one-year low of $20.50. Currently, Control4 Corp has an average volume of 354.7K.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Control4 Corp. engages in the provision of automation and control solutions. It offers networking systems to control lighting, entertainment, security, energy and other connected devices. The firm builds secure infrastructure to provide cloud-base services which includes remote customer system access.
