Buckingham Research assumed coverage on shares of Deluxe (NYSE:DLX) in a research note issued to investors on Friday, Marketbeat reports. The brokerage issued a neutral rating and a $56.00 price target on the business services provider’s stock.
Separately, TheStreet lowered Deluxe from a b- rating to a c+ rating in a research report on Tuesday, August 21st.
Shares of NYSE:DLX traded down $1.00 during trading on Friday, reaching $50.95. 774,461 shares of the stock were exchanged, compared to its average volume of 331,989. The company has a quick ratio of 1.04, a current ratio of 1.16 and a debt-to-equity ratio of 0.71. Deluxe has a 1-year low of $50.35 and a 1-year high of $78.87. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of 9.67 and a beta of 0.90.
Deluxe (NYSE:DLX) last issued its earnings results on Thursday, July 26th. The business services provider reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.09. The company had revenue of $488.20 million for the quarter, compared to analyst estimates of $493.65 million. Deluxe had a return on equity of 26.05% and a net margin of 12.01%. Deluxe’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.29 earnings per share. Equities research analysts anticipate that Deluxe will post 5.74 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lingohr & Partner Asset Management GmbH purchased a new stake in shares of Deluxe during the 2nd quarter valued at $1,395,000. Voya Investment Management LLC increased its position in shares of Deluxe by 17.9% during the 2nd quarter. Voya Investment Management LLC now owns 91,608 shares of the business services provider’s stock valued at $6,065,000 after purchasing an additional 13,886 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Deluxe during the 2nd quarter valued at $1,119,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Deluxe during the 2nd quarter valued at $855,000. Finally, New York State Teachers Retirement System increased its position in shares of Deluxe by 4.1% during the 2nd quarter. New York State Teachers Retirement System now owns 87,340 shares of the business services provider’s stock valued at $5,783,000 after purchasing an additional 3,400 shares during the last quarter. 93.00% of the stock is owned by institutional investors and hedge funds.
Deluxe Corporation provides checks, forms, marketing solutions, accessories, and other products and services for small businesses and financial institutions. It operates through three segments: Small Business Services, Financial Services, and Direct Checks. The company provides checks; printed forms, such as deposit tickets, billing forms, work orders, job proposals, purchase orders, invoices, and personnel forms, as well as computer forms and check registers; and accessories and other products comprising envelopes, office supplies, ink stamps, and labels, as well as checkbook covers.
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