USA Technologies (USAT) Raised to “Buy” at Zacks Investment Research

Share on StockTwits

Zacks Investment Research upgraded shares of USA Technologies (NASDAQ:USAT) from a hold rating to a buy rating in a research report report published on Tuesday, Zacks.com reports. Zacks Investment Research currently has $6.00 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 equities research analysts also recently issued reports about the stock. Northland Securities downgraded shares of USA Technologies from an outperform rating to a market perform rating in a research note on Thursday, February 7th. BidaskClub raised shares of USA Technologies from a buy rating to a strong-buy rating in a research note on Saturday, April 13th. Craig Hallum decreased their price target on shares of USA Technologies from $16.00 to $11.00 and set a buy rating on the stock in a research note on Tuesday, January 15th. Lake Street Capital downgraded shares of USA Technologies from a buy rating to a hold rating and decreased their price target for the stock from $7.50 to $4.50 in a research note on Monday, February 11th. Finally, ValuEngine raised shares of USA Technologies from a sell rating to a hold rating in a research note on Wednesday, January 2nd. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $7.17.

Shares of USAT opened at $5.66 on Tuesday. The company has a market capitalization of $337.20 million, a P/E ratio of 81.00 and a beta of 1.89. USA Technologies has a 1-year low of $3.19 and a 1-year high of $16.83.

Several hedge funds and other institutional investors have recently modified their holdings of USAT. BlackRock Inc. increased its stake in shares of USA Technologies by 7.9% in the third quarter. BlackRock Inc. now owns 3,727,553 shares of the technology company’s stock worth $26,839,000 after buying an additional 271,740 shares during the period. Credit Suisse AG increased its stake in shares of USA Technologies by 152.6% in the third quarter. Credit Suisse AG now owns 34,800 shares of the technology company’s stock worth $251,000 after buying an additional 21,022 shares during the period. Dimensional Fund Advisors LP purchased a new position in shares of USA Technologies in the third quarter worth $552,000. Jane Street Group LLC purchased a new position in shares of USA Technologies in the third quarter worth $281,000. Finally, MetLife Investment Advisors LLC increased its stake in shares of USA Technologies by 53.8% in the third quarter. MetLife Investment Advisors LLC now owns 36,797 shares of the technology company’s stock worth $265,000 after buying an additional 12,873 shares during the period. 69.41% of the stock is currently 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: What is insider trading?

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.