Cantaloupe (NASDAQ:CTLP) Reaches New 52-Week High After Analyst Upgrade

Cantaloupe, Inc. (NASDAQ:CTLP - Get Free Report) hit a new 52-week high on Wednesday after Barrington Research raised their price target on the stock from $12.00 to $14.00. Barrington Research currently has an outperform rating on the stock. Cantaloupe traded as high as $10.54 and last traded at $10.53, with a volume of 1247242 shares traded. The stock had previously closed at $9.93.

Several other brokerages also recently weighed in on CTLP. Northland Securities upped their target price on Cantaloupe from $10.00 to $12.00 and gave the stock an "outperform" rating in a research report on Monday, November 11th. Benchmark upped their target price on Cantaloupe from $10.00 to $11.00 and gave the stock a "buy" rating in a research report on Friday, November 8th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CTLP. The Manufacturers Life Insurance Company raised its stake in Cantaloupe by 15.4% during the second quarter. The Manufacturers Life Insurance Company now owns 24,079 shares of the technology company's stock valued at $159,000 after buying an additional 3,210 shares in the last quarter. Rhumbline Advisers raised its stake in Cantaloupe by 4.1% during the fourth quarter. Rhumbline Advisers now owns 80,973 shares of the technology company's stock valued at $770,000 after buying an additional 3,221 shares in the last quarter. New York State Common Retirement Fund raised its stake in Cantaloupe by 75.8% during the fourth quarter. New York State Common Retirement Fund now owns 7,884 shares of the technology company's stock valued at $75,000 after buying an additional 3,400 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Cantaloupe by 18.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 22,283 shares of the technology company's stock valued at $212,000 after buying an additional 3,462 shares in the last quarter. Finally, Quarry LP acquired a new stake in Cantaloupe during the third quarter valued at approximately $26,000. Hedge funds and other institutional investors own 75.75% of the company's stock.

Cantaloupe Price Performance

The company has a 50 day simple moving average of $9.10 and a 200-day simple moving average of $8.34. The stock has a market cap of $778.80 million, a price-to-earnings ratio of 53.35 and a beta of 1.64. The company has a quick ratio of 1.03, a current ratio of 1.60 and a debt-to-equity ratio of 0.19.

Cantaloupe (NASDAQ:CTLP - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. Cantaloupe had a return on equity of 8.45% and a net margin of 5.40%. During the same quarter in the previous year, the company earned $0.04 EPS. As a group, research analysts anticipate that Cantaloupe, Inc. will post 0.32 EPS for the current fiscal year.

Cantaloupe Company Profile

Cantaloupe, Inc, a digital payments and software services company, provides technology solutions for self-service commerce market. The company offers integrated solutions for payments processing, logistics, and back-office management. It also provides G11 cashless and pulse kits that are 4G LTE digital payment devices for payment and consumer engagement applications; G11 chip kit, a digital reader that accepts contact EMV and contactless EMV payment methods; Engage series comprising Engage and Engage Combo, which are digital touchscreen devices that offers networking, security, and interactivity payment methods; and card touchscreen card readers, including P66, P100, P100Pro, and P30.