USA Technologies (NASDAQ:USAT) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday. The brokerage currently has a $11.00 price objective on the technology company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 17.02% from the company’s previous close.
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. “
Separately, Northland Securities set a $12.00 price target on USA Technologies and gave the stock a “buy” rating in a research note on Monday, December 18th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $11.50.
USA Technologies (USAT) opened at $9.40 on Friday. The stock has a market capitalization of $504.03, a P/E ratio of 940.94 and a beta of 1.02. 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 has a 12 month low of $3.80 and a 12 month high of $10.10.
USA Technologies (NASDAQ:USAT) last released 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 return on equity of 1.20% and a net margin of 0.37%. analysts expect that USA Technologies will post 0.07 earnings per share for the current fiscal year.
In related news, Director Albin F. Moschner sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 12th. The stock was sold at an average price of $9.15, for a total transaction of $54,900.00. Following the transaction, the director now owns 352,926 shares in the company, valued at approximately $3,229,272.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Albin F. Moschner sold 9,478 shares of USA Technologies stock in a transaction that occurred on Wednesday, December 26th. The shares were sold at an average price of $9.61, for a total value of $91,083.58. Following the completion of the transaction, the director now owns 352,926 shares in the company, valued at $3,391,618.86. The disclosure for this sale can be found here. Insiders have sold a total of 120,901 shares of company stock worth $1,080,337 in the last 90 days. 4.38% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in USAT. Prudential Financial Inc. purchased a new position in shares of USA Technologies in the 3rd quarter valued at approximately $121,000. Alliancebernstein L.P. purchased a new position in shares of USA Technologies in the 2nd quarter valued at approximately $130,000. New York State Common Retirement Fund grew 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 grew 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 purchased a new position in shares of USA Technologies in the 3rd quarter valued at approximately $188,000. Institutional investors own 51.17% of the company’s stock.
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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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