USA Technologies (USAT) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of USA Technologies (NASDAQ:USAT) from a sell rating to a hold rating in a research note published on Friday, July 27th.

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. “

Several other analysts have also recently issued reports on USAT. BidaskClub upgraded USA Technologies from a hold rating to a buy rating in a research note on Wednesday, May 9th. Barrington Research restated a buy rating on shares of USA Technologies in a research note on Monday, May 7th. Lake Street Capital restated a buy rating and set a $17.00 price objective on shares of USA Technologies in a research note on Wednesday, June 13th. Finally, ValuEngine upgraded USA Technologies from a buy rating to a strong-buy rating in a research note on Wednesday, May 2nd. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of Buy and an average price target of $13.67.

USA Technologies traded up $0.15, hitting $15.65, on Friday, according to MarketBeat. 434,983 shares of the stock traded hands, compared to its average volume of 535,074. USA Technologies has a twelve month low of $4.90 and a twelve month high of $15.79. The stock has a market capitalization of $930.01 million, a P/E ratio of 221.43 and a beta of 0.62. The company has a quick ratio of 1.08, a current ratio of 1.34 and a debt-to-equity ratio of 0.29.

Several large investors have recently bought and sold shares of the company. Geode Capital Management LLC grew its holdings in shares of USA Technologies by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 405,077 shares of the technology company’s stock valued at $3,949,000 after purchasing an additional 7,185 shares during the last quarter. Trellus Management Company LLC grew its holdings in shares of USA Technologies by 9.8% during the second quarter. Trellus Management Company LLC now owns 84,400 shares of the technology company’s stock valued at $1,182,000 after purchasing an additional 7,500 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of USA Technologies by 7.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 110,563 shares of the technology company’s stock valued at $1,548,000 after purchasing an additional 7,900 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of USA Technologies by 19.3% during the second quarter. Rhumbline Advisers now owns 49,759 shares of the technology company’s stock valued at $697,000 after purchasing an additional 8,062 shares during the last quarter. Finally, TIAA CREF Investment Management LLC grew its holdings in shares of USA Technologies by 8.2% during the fourth quarter. TIAA CREF Investment Management LLC now owns 110,151 shares of the technology company’s stock valued at $1,074,000 after purchasing an additional 8,304 shares during the last quarter. 61.11% of the stock is owned by institutional investors.

About USA Technologies

USA Technologies, Inc provides wireless networking, cashless transactions, asset monitoring, and other value-added services in the United States and internationally. It designs and markets systems and solutions that facilitate electronic payment options, as well as telemetry and machine-to-machine (M2M) services.

Featured Article: Leveraged Buyout (LBO)

Get a free copy of the Zacks research report on USA Technologies (USAT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for USA Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for USA Technologies and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply