Cardtronics Inc. (CATM) Cut to Hold at Zacks Investment Research
Cardtronics Inc. (NASDAQ:CATM) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Friday.
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. “
Several other research firms have also recently weighed in on CATM. JPMorgan Chase & Co. cut shares of Cardtronics from an “overweight” rating to a “neutral” rating and increased their price target for the company from $45.00 to $50.00 in a report on Friday, August 19th. Barrington Research cut shares of Cardtronics from an “outperform” rating to a “market perform” rating in a report on Friday, July 29th. Jefferies Group increased their price target on shares of Cardtronics from $46.00 to $52.00 and gave the company a “buy” rating in a report on Monday, August 1st. Finally, Feltl & Co. assumed coverage on shares of Cardtronics in a report on Thursday, September 22nd. They issued a “buy” rating and a $48.00 price target on the stock. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $47.00.
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Shares of Cardtronics (NASDAQ:CATM) traded down 0.04% on Friday, hitting $48.76. The stock had a trading volume of 329,274 shares. Cardtronics has a 12-month low of $28.01 and a 12-month high of $49.41. The firm has a market capitalization of $2.21 billion, a P/E ratio of 30.72 and a beta of 0.76. The company has a 50 day moving average of $44.67 and a 200-day moving average of $41.01.
Cardtronics (NASDAQ:CATM) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.03. The firm had revenue of $324 million for the quarter, compared to analysts’ expectations of $315.48 million. Cardtronics had a net margin of 5.83% and a return on equity of 33.95%. The business’s revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.71 EPS. Equities analysts predict that Cardtronics will post $3.25 EPS for the current fiscal year.
In related news, insider Patrick Michael Mccarthy sold 3,034 shares of Cardtronics stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $46.02, for a total value of $139,624.68. Following the transaction, the insider now directly owns 26,831 shares of the company’s stock, valued at $1,234,762.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director J Tim Arnoult sold 5,000 shares of Cardtronics stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $45.71, for a total transaction of $228,550.00. Following the completion of the transaction, the director now directly owns 6,648 shares in the company, valued at $303,880.08. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Arrowgrass Capital Partners US LP boosted its position in shares of Cardtronics by 0.8% in the first quarter. Arrowgrass Capital Partners US LP now owns 118,612 shares of the company’s stock worth $4,269,000 after buying an additional 891 shares during the period. Hancock Holding Co. boosted its position in shares of Cardtronics by 0.7% in the first quarter. Hancock Holding Co. now owns 262,615 shares of the company’s stock worth $9,452,000 after buying an additional 1,870 shares during the period. Geode Capital Management LLC boosted its position in shares of Cardtronics by 4.4% in the first quarter. Geode Capital Management LLC now owns 381,667 shares of the company’s stock worth $13,736,000 after buying an additional 15,955 shares during the period. State Street Corp boosted its position in shares of Cardtronics by 2.5% in the first quarter. State Street Corp now owns 874,745 shares of the company’s stock worth $31,485,000 after buying an additional 20,933 shares during the period. Finally, Huntington Asset Advisors Inc. purchased a new position in shares of Cardtronics during the first quarter worth about $720,000.
Cardtronics Company Profile
Cardtronics PLC, formerly Cardtronics, Inc, is a provider of automated consumer financial services. The Company provides these services through its network of automated teller machines (ATMs) and multi-function financial services kiosks. The Company’s operations consisted of its North America and Europe segments.
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