Zacks Investment Research upgraded shares of USA Technologies, Inc. (NASDAQ:USAT) from a hold rating to a strong-buy rating in a report published on Saturday morning. They currently have $7.75 price objective 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. “
Other research analysts have also recently issued research reports about the company. William Blair began coverage on USA Technologies in a research note on Thursday, August 24th. They issued an outperform rating on the stock. BidaskClub cut USA Technologies from a buy rating to a hold rating in a research note on Saturday, August 12th. Northland Securities restated a buy rating and set a $7.25 price objective on shares of USA Technologies in a research note on Tuesday, September 5th. Finally, ValuEngine upgraded USA Technologies from a sell rating to a hold rating in a research note on Thursday, July 27th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $7.50.
USA Technologies (NASDAQ USAT) opened at $7.80 on Friday. The company has a quick ratio of 2.38, a current ratio of 2.67 and a debt-to-equity ratio of 0.01. USA Technologies has a one year low of $3.60 and a one year high of $7.80. The company has a market capitalization of $378.98, a PE ratio of 352.50 and a beta of 0.87.
USA Technologies (NASDAQ:USAT) last released its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.00 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.01. USA Technologies had a return on equity of 1.20% and a net margin of 0.37%. The business had revenue of $25.62 million for the quarter, compared to analysts’ expectations of $25.87 million. analysts forecast that USA Technologies will post 0.06 EPS for the current year.
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Hedge funds and other institutional investors have recently made changes to their positions in the business. Prudential Financial Inc. acquired a new stake in USA Technologies during the third quarter valued at approximately $121,000. Alliancebernstein L.P. acquired a new stake in USA Technologies during the second quarter valued at approximately $130,000. New York State Common Retirement Fund raised its stake in USA Technologies by 75.7% during the second quarter. New York State Common Retirement Fund now owns 29,700 shares of the technology company’s stock valued at $154,000 after buying an additional 12,799 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in USA Technologies by 17.8% during the second quarter. The Manufacturers Life Insurance Company now owns 34,782 shares of the technology company’s stock valued at $181,000 after buying an additional 5,263 shares in the last quarter. Finally, Archon Capital Management LLC acquired a new stake in USA Technologies during the third quarter valued at approximately $188,000. Hedge funds and other institutional investors own 39.27% of the company’s stock.
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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