Imperial Capital Raises Price Target on Control4 (CTRL) to $11 Following 2Q Report

August 12, 2016 7:32 AM EDT
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Price: $11.39 --0%

Rating Summary:
    2 Buy, 5 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 18 | Down: 13 | New: 9
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Imperial Capital reiterated an In-Line rating on Control4 Corporation (NASDAQ: CTRL), and raised the price target to $11.00 (from $8.50), following the company's 2Q earnings report. CTRL reported revenue of $53mn, above estimates of $51mn. EPS of $0.23 beat estimates by $0.04.

Analyst Jeff Kessler commented, "On 7/4/16, Control4 reported 2Q16 results with revenue of $53mn, up 19% year-over-year (yoy) from $45mn, and above our estimate of $51mn. Diluted EPS of $0.23 was up from $0.16 during the same period last year, and above our estimate of $0.19. Management improved gross margin to 48.9%, up sequentially from 47.6%, and above our estimate of 47.0%. This is the second quarter in a row that company earnings have exceeded our estimates."

For an analyst ratings summary and ratings history on Control4 Corporation click here. For more ratings news on Control4 Corporation click here.

Shares of Control4 Corporation closed at $10.92 yesterday.

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