Zacks Investment Research upgraded shares of USA Technologies, Inc. (NASDAQ:USAT) from a hold rating to a strong-buy rating in a research report sent to investors on Saturday morning. Zacks Investment Research currently has $7.75 price target on the technology company’s stock.

According to Zacks, “USA Technologies is a leader in the networking of distributed assets, wireless non-cash transactions, associated financial/network services and energy management. USA Technologies provides networked credit card and other non-cash systems in the vending, commercial laundry, hospitality and digital imaging industries. USA Technologies is an IBM Business Partner. The Company has marketing agreements with Cingular Wireless, Honeywell, MEI, Unilever and ZiLOG Corporation. “

A number of other equities research analysts have also issued reports on the stock. Northland Securities reissued a buy rating and set a $7.25 target price on shares of USA Technologies in a research note on Tuesday, September 5th. William Blair initiated coverage on shares of USA Technologies in a research note on Thursday, August 24th. They set an outperform rating for the company. ValuEngine raised shares of USA Technologies from a sell rating to a hold rating in a research note on Thursday, July 27th. Finally, BidaskClub lowered shares of USA Technologies from a buy rating to a hold rating in a research note on Saturday, August 12th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $7.50.

Shares of USA Technologies (USAT) opened at $7.55 on Friday. The stock has a market cap of $353.89, a price-to-earnings ratio of 352.50 and a beta of 0.87. USA Technologies has a 52 week low of $3.55 and a 52 week high of $7.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.38 and a current ratio of 2.67.

USA Technologies (NASDAQ:USAT) last issued its earnings results on Wednesday, November 8th. The technology company reported $0.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.01. The company had revenue of $25.62 million during the quarter, compared to analyst estimates of $25.87 million. USA Technologies had a net margin of 0.37% and a return on equity of 1.20%. equities research analysts expect that USA Technologies will post 0.06 earnings per share for the current fiscal year.

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Several hedge funds have recently added to or reduced their stakes in USAT. Prudential Financial Inc. acquired a new stake in shares of USA Technologies in the 3rd quarter valued at $121,000. Alliancebernstein L.P. acquired a new stake in shares of USA Technologies in the 2nd quarter valued at $130,000. New York State Common Retirement Fund lifted its stake in shares of USA Technologies by 75.7% in the 2nd quarter. New York State Common Retirement Fund now owns 29,700 shares of the technology company’s stock valued at $154,000 after purchasing an additional 12,799 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of USA Technologies by 17.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 34,782 shares of the technology company’s stock valued at $181,000 after purchasing an additional 5,263 shares during the last quarter. Finally, Archon Capital Management LLC acquired a new stake in shares of USA Technologies in the 3rd quarter valued at $188,000. 39.27% of the stock is owned by institutional investors and hedge funds.

USA Technologies Company Profile

USA Technologies, Inc provides technology-enabled solutions and value-added services that facilitate electronic payment transactions within the unattended point of sale (POS) market. The Company is a provider in the small ticket, beverage and food vending industry and is also engaged in offering solutions and services to other unattended market segments, such as amusement, commercial laundry, kiosk and others.

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