USA Technologies, Inc. (USAT) Upgraded to Buy at Zacks Investment Research
USA Technologies, Inc. (NASDAQ:USAT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The brokerage presently has a $9.25 price objective on the technology company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 6.32% from the company’s current price.
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 also recently weighed in on the stock. Northland Securities reaffirmed a “buy” rating and issued a $7.25 target price on shares of USA Technologies in a research note on Tuesday, September 5th. William Blair assumed coverage on shares of USA Technologies in a research note on Thursday, August 24th. They issued an “outperform” rating on the stock. BidaskClub downgraded shares of USA Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Finally, ValuEngine raised shares of USA Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $8.25.
Shares of USA Technologies (USAT) opened at $8.70 on Wednesday. USA Technologies has a fifty-two week low of $3.80 and a fifty-two week high of $8.80. The stock has a market cap of $447.73, a PE ratio of 417.50 and a beta of 0.87. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.67 and a quick ratio of 2.38.
USA Technologies (NASDAQ:USAT) last announced its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.01. The firm had revenue of $25.62 million for the quarter, compared to the consensus estimate of $25.87 million. USA Technologies had a net margin of 0.37% and a return on equity of 1.20%. research analysts predict that USA Technologies will post 0.07 EPS for the current year.
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In related news, Director Albin F. Moschner sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $8.25, for a total value of $165,000.00. Following the sale, the director now directly owns 422,926 shares of the company’s stock, valued at $3,489,139.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.38% of the company’s stock.
Several hedge funds have recently bought and sold shares of USAT. RK Capital Management LLC purchased a new position in shares of USA Technologies during the third quarter worth approximately $8,027,000. Russell Investments Group Ltd. purchased a new position in shares of USA Technologies during the third quarter worth approximately $7,163,000. EAM Investors LLC purchased a new position in shares of USA Technologies during the third quarter worth approximately $3,096,000. Ardsley Advisory Partners purchased a new position in shares of USA Technologies during the second quarter worth approximately $2,080,000. Finally, HighTower Advisors LLC purchased a new position in shares of USA Technologies during the second quarter worth approximately $1,668,000. 43.06% of the stock is currently owned by hedge funds and other institutional investors.
About USA Technologies
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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