Deluxe (NYSE:DLX) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research cut shares of Deluxe (NYSE:DLX) from a buy rating to a hold rating in a research note released on Wednesday morning, Zacks.com reports.

According to Zacks, “Deluxe Corporation, through its industry-leading businesses and brands, helps financial institutions and small businesses better manage, promote, and grow their businesses. The Company uses direct marketing, distributors, and a North American sales force to provide a wide range of customized products and services: personalized printed items checks, forms, business cards, stationery, greeting cards, labels, and retail/packaging supplies, promotional products and merchandising materials, fraud prevention services, and customer retention programs. The Company also sells personalized checks and accessories directly to consumers. “

Separately, ValuEngine downgraded shares of Deluxe from a sell rating to a strong sell rating in a research report on Tuesday, December 10th.

DLX traded up $0.90 during trading on Wednesday, hitting $48.95. The company’s stock had a trading volume of 5,249 shares, compared to its average volume of 243,936. The company has a quick ratio of 1.06, a current ratio of 1.18 and a debt-to-equity ratio of 1.82. Deluxe has a one year low of $36.11 and a one year high of $54.15. The firm has a market cap of $2.02 billion, a PE ratio of 8.58 and a beta of 1.33. The business’s 50 day simple moving average is $50.03 and its 200-day simple moving average is $47.18.

Deluxe (NYSE:DLX) last released its quarterly earnings results on Thursday, October 24th. The business services provider reported $1.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.59 by $0.12. The business had revenue of $493.60 million for the quarter, compared to the consensus estimate of $496.20 million. Deluxe had a negative net margin of 9.01% and a positive return on equity of 33.33%. The company’s quarterly revenue was up .1% on a year-over-year basis. During the same period last year, the firm earned $1.36 earnings per share. Equities research analysts expect that Deluxe will post 6.68 EPS for the current fiscal year.

In related news, Director Thomas Reddin sold 1,863 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $52.50, for a total transaction of $97,807.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.20% of the company’s stock.

Several large investors have recently modified their holdings of DLX. AdvisorNet Financial Inc grew its stake in shares of Deluxe by 234.0% in the 3rd quarter. AdvisorNet Financial Inc now owns 541 shares of the business services provider’s stock worth $27,000 after buying an additional 379 shares in the last quarter. North Star Investment Management Corp. purchased a new position in shares of Deluxe in the 3rd quarter worth $34,000. Denali Advisors LLC purchased a new position in shares of Deluxe in the 3rd quarter worth $59,000. Point72 Asset Management L.P. purchased a new position in shares of Deluxe in the 2nd quarter worth $65,000. Finally, Tower Research Capital LLC TRC purchased a new position in shares of Deluxe in the 2nd quarter worth $70,000. 90.82% of the stock is owned by institutional investors and hedge funds.

Deluxe Company Profile

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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