Cardtronics (NASDAQ:CATM) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Cardtronics (NASDAQ:CATM) from a buy rating to a hold rating in a report released on Wednesday morning, Zacks.com reports.

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 analysts also recently commented on the stock. SunTrust Banks raised their price objective on shares of Cardtronics from $29.00 to $35.00 and gave the stock a buy rating in a report on Friday, May 22nd. BidaskClub raised shares of Cardtronics from a sell rating to a hold rating in a report on Tuesday. DA Davidson cut their price target on shares of Cardtronics from $51.00 to $40.00 in a report on Tuesday, April 21st. Gabelli initiated coverage on shares of Cardtronics in a report on Friday, May 22nd. They issued a buy rating for the company. Finally, William Blair reissued a market perform rating on shares of Cardtronics in a report on Friday, August 7th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $37.50.

NASDAQ:CATM traded down $0.12 on Wednesday, hitting $22.68. The stock had a trading volume of 274,053 shares, compared to its average volume of 621,957. The firm’s fifty day simple moving average is $22.62 and its two-hundred day simple moving average is $26.87. The stock has a market cap of $992.72 million, a P/E ratio of 27.33 and a beta of 1.61. Cardtronics has a 1 year low of $15.71 and a 1 year high of $47.41. The company has a debt-to-equity ratio of 2.70, a quick ratio of 0.88 and a current ratio of 0.90.

Cardtronics (NASDAQ:CATM) last released its quarterly earnings data on Thursday, August 6th. The business services provider reported $0.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.19. The company had revenue of $233.20 million during the quarter, compared to the consensus estimate of $231.52 million. Cardtronics had a net margin of 3.03% and a return on equity of 22.33%. Cardtronics’s revenue for the quarter was down 31.6% on a year-over-year basis. During the same period last year, the firm earned $0.69 EPS. Equities research analysts predict that Cardtronics will post 0.54 EPS for the current year.

In related news, Director Hudson Executive Capital Lp acquired 100,000 shares of the stock in a transaction dated Thursday, June 25th. The shares were purchased at an average price of $24.10 per share, for a total transaction of $2,410,000.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Paul A. Gullo acquired 1,100 shares of the stock in a transaction dated Monday, May 18th. The shares were bought at an average price of $25.13 per share, for a total transaction of $27,643.00. In the last 90 days, insiders have bought 179,950 shares of company stock worth $4,358,357. Corporate insiders own 19.80% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. State of Tennessee Treasury Department raised its position in Cardtronics by 3.0% in the 1st quarter. State of Tennessee Treasury Department now owns 19,034 shares of the business services provider’s stock worth $398,000 after purchasing an additional 554 shares during the period. Point72 Hong Kong Ltd raised its position in Cardtronics by 236.3% in the 2nd quarter. Point72 Hong Kong Ltd now owns 1,066 shares of the business services provider’s stock worth $26,000 after purchasing an additional 749 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Cardtronics by 31.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,648 shares of the business services provider’s stock worth $87,000 after purchasing an additional 882 shares during the period. Comerica Bank raised its position in Cardtronics by 3.0% in the 1st quarter. Comerica Bank now owns 35,227 shares of the business services provider’s stock worth $694,000 after purchasing an additional 1,030 shares during the period. Finally, IFP Advisors Inc raised its position in Cardtronics by 42.5% in the 2nd quarter. IFP Advisors Inc now owns 4,594 shares of the business services provider’s stock worth $110,000 after purchasing an additional 1,371 shares during the period.

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.

See Also: Equal Weight Rating

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