Cardtronics Inc. (CATM) Upgraded to Strong-Buy by Zacks Investment Research
Cardtronics Inc. (NASDAQ:CATM) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday. The brokerage presently has a $55.00 price target on the stock. Zacks Investment Research’s price objective points to a potential upside of 14.20% from the company’s previous close.
According to Zacks, “Cardtronics plc provides ATM services primarily in North America and Europe. The company is at the convergence of retailers, financial institutions, prepaid card programs and the customers they share. Cardtronics, Inc., formerly known as Cardtronics plc, is headquartered in Houston, Texas. “
A number of other brokerages have also weighed in on CATM. Feltl & Co. assumed coverage on shares of Cardtronics in a report on Thursday, September 22nd. They issued a “buy” rating and a $48.00 price objective for the company. Jefferies Group lifted their target price on shares of Cardtronics from $46.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, August 1st. JPMorgan Chase & Co. downgraded shares of Cardtronics from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $45.00 to $50.00 in a research report on Friday, August 19th. Finally, Barrington Research downgraded shares of Cardtronics from an “outperform” rating to a “market perform” rating in a research report on Friday, July 29th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $47.00.
Cardtronics (NASDAQ:CATM) traded up 1.29% during midday trading on Thursday, hitting $48.78. The company’s stock had a trading volume of 433,857 shares. Cardtronics has a 12 month low of $28.01 and a 12 month high of $49.41. The company’s 50 day moving average price is $44.63 and its 200 day moving average price is $40.95. The firm has a market cap of $2.21 billion, a P/E ratio of 30.74 and a beta of 0.76.
Cardtronics (NASDAQ:CATM) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. Cardtronics had a net margin of 5.83% and a return on equity of 33.95%. The company earned $324 million during the quarter, compared to analyst estimates of $315.48 million. During the same period in the previous year, the business earned $0.71 EPS. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. Analysts expect that Cardtronics will post $3.25 EPS for the current year.
In related news, insider Patrick Michael Mccarthy sold 3,034 shares of the company’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $46.02, for a total value of $139,624.68. Following the completion of the transaction, the insider now owns 26,831 shares of the company’s stock, valued at approximately $1,234,762.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Rick Updyke sold 9,182 shares of the company’s stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $47.15, for a total transaction of $432,931.30. Following the completion of the transaction, the executive vice president now directly owns 67,050 shares of the company’s stock, valued at approximately $3,161,407.50. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank purchased a new position in shares of Cardtronics during the fourth quarter valued at $9,339,000. Virginia Retirement System purchased a new position in shares of Cardtronics during the first quarter valued at $752,000. Pacad Investment Ltd. increased its position in shares of Cardtronics by 29.1% in the first quarter. Pacad Investment Ltd. now owns 10,200 shares of the company’s stock valued at $367,000 after buying an additional 2,300 shares in the last quarter. Prudential Financial Inc. increased its position in shares of Cardtronics by 10.7% in the first quarter. Prudential Financial Inc. now owns 115,543 shares of the company’s stock valued at $4,158,000 after buying an additional 11,171 shares in the last quarter. Finally, BlackRock Inc. increased its position in shares of Cardtronics by 138.9% in the first quarter. BlackRock Inc. now owns 3,435 shares of the company’s stock valued at $123,000 after buying an additional 1,997 shares in the last quarter.
Cardtronics PLC, formerly Cardtronics, Inc, is a provider of automated consumer financial services. The Company provides these services through its network of automated teller machines (ATMs) and multi-function financial services kiosks. The Company’s operations consisted of its North America and Europe segments.
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