USA Technologies (USAT) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of USA Technologies (NASDAQ:USAT) from a buy rating to a hold rating in a research report report published on Saturday morning.

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. “

USAT has been the subject of several other reports. Craig Hallum decreased their target price on shares of USA Technologies from $16.00 to $11.00 and set a buy rating for the company in a research note on Tuesday, January 15th. BidaskClub upgraded shares of USA Technologies from a sell rating to a hold rating in a research note on Wednesday, January 30th. ValuEngine raised shares of USA Technologies from a sell rating to a hold rating in a report on Tuesday, November 27th. Lake Street Capital reaffirmed a buy rating on shares of USA Technologies in a report on Tuesday, January 15th. Finally, Northland Securities cut shares of USA Technologies from an outperform rating to a market perform rating in a report on Thursday, February 7th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. USA Technologies presently has a consensus rating of Hold and a consensus price target of $6.58.

Shares of USAT stock opened at $3.95 on Friday. The firm has a market capitalization of $233.40 million, a PE ratio of 59.14 and a beta of 1.75. USA Technologies has a twelve month low of $3.19 and a twelve month high of $16.83.

A number of institutional investors and hedge funds have recently bought and sold shares of USAT. Morgan Stanley raised its holdings in USA Technologies by 168.2% in the third quarter. Morgan Stanley now owns 1,992,684 shares of the technology company’s stock valued at $14,348,000 after acquiring an additional 1,249,662 shares in the last quarter. Sargent Investment Group LLC acquired a new stake in USA Technologies in the fourth quarter valued at $3,695,000. Capital International Investors acquired a new stake in USA Technologies in the third quarter valued at $6,588,000. Two Sigma Investments LP acquired a new stake in USA Technologies in the fourth quarter valued at $2,060,000. Finally, Southside Capital LLC acquired a new stake in USA Technologies in the fourth quarter valued at $1,881,000. 68.98% of the stock is currently owned by hedge funds and other institutional investors.

USA Technologies Company Profile

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.

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