Zacks Investment Research Upgrades Cardtronics (NASDAQ:CATM) to Buy

Cardtronics (NASDAQ:CATM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, Zacks.com reports. The brokerage currently has a $34.00 price objective on the business services provider’s stock. Zacks Investment Research‘s target price suggests a potential upside of 9.50% from the company’s current price.

According to Zacks, “Cardtronics plc provides ATM services primarily in North America and Europe. The company is at the convergence of retailers, financial institutions, prepaid card programs and the customers they share. Cardtronics, Inc., formerly known as Cardtronics plc, is headquartered in Houston, Texas. “

Other research analysts have also recently issued reports about the company. Barrington Research reiterated a “buy” rating and set a $40.00 price target on shares of Cardtronics in a research report on Friday, August 2nd. BidaskClub upgraded Cardtronics from a “sell” rating to a “hold” rating in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Cardtronics currently has an average rating of “Buy” and an average target price of $38.75.

Shares of CATM stock opened at $31.05 on Thursday. The stock has a 50 day moving average of $29.91 and a 200 day moving average of $31.10. The company has a current ratio of 0.73, a quick ratio of 0.71 and a debt-to-equity ratio of 2.35. The stock has a market cap of $1.36 billion, a P/E ratio of 16.72, a P/E/G ratio of 3.74 and a beta of 1.32. Cardtronics has a twelve month low of $23.57 and a twelve month high of $37.41.

Cardtronics (NASDAQ:CATM) last announced its quarterly earnings results on Thursday, August 1st. The business services provider reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.25. The company had revenue of $340.80 million during the quarter, compared to analysts’ expectations of $331.84 million. Cardtronics had a return on equity of 21.88% and a net margin of 1.32%. Cardtronics’s quarterly revenue was down .1% on a year-over-year basis. During the same period last year, the business earned $0.61 earnings per share. On average, research analysts predict that Cardtronics will post 2 earnings per share for the current fiscal year.

In other news, CAO Paul A. Gullo sold 1,200 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $33.40, for a total value of $40,080.00. Following the completion of the sale, the chief accounting officer now directly owns 974 shares in the company, valued at $32,531.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stuart Mackinnon sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $33.43, for a total value of $334,300.00. The disclosure for this sale can be found here. Insiders sold 14,200 shares of company stock valued at $471,850 over the last 90 days. Company insiders own 18.30% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Everence Capital Management Inc. purchased a new stake in shares of Cardtronics in the third quarter valued at approximately $202,000. State of Alaska Department of Revenue increased its position in shares of Cardtronics by 121.1% in the third quarter. State of Alaska Department of Revenue now owns 28,191 shares of the business services provider’s stock valued at $852,000 after buying an additional 15,439 shares in the last quarter. Magnetar Financial LLC increased its position in shares of Cardtronics by 20.4% in the second quarter. Magnetar Financial LLC now owns 10,800 shares of the business services provider’s stock valued at $295,000 after buying an additional 1,827 shares in the last quarter. Royal Bank of Canada increased its position in shares of Cardtronics by 0.6% in the second quarter. Royal Bank of Canada now owns 486,722 shares of the business services provider’s stock valued at $13,297,000 after buying an additional 2,835 shares in the last quarter. Finally, United Services Automobile Association increased its position in shares of Cardtronics by 15.0% in the second quarter. United Services Automobile Association now owns 63,294 shares of the business services provider’s stock valued at $1,729,000 after buying an additional 8,270 shares in the last quarter.

Cardtronics Company Profile

Cardtronics plc provides automated consumer financial services through its network of automated teller machines (ATMs) and multi-function financial services kiosks. The company offers cash dispensing and balance inquiries; and financial related services to cardholders, as well as ATM management and ATM equipment-related services to large retail merchants, smaller retailers, financial institutions, and operators of facilities, such as shopping malls, airports, and train stations.

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