EVO Payments (NASDAQ:EVOP) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of EVO Payments (NASDAQ:EVOP) from a hold rating to a sell rating in a research report released on Wednesday morning, Zacks.com reports.

According to Zacks, “EVO Payments International LLC is a payments service provider of merchant acquiring and processing solutions for merchants, independent software vendors, financial institutions, independent sales organizations, government organizations and multinational corporations. It operates primarily in North America and Europe. EVO Payments International LLC is located in Atlanta, Georgia. “

Several other research firms also recently commented on EVOP. Compass Point began coverage on shares of EVO Payments in a report on Thursday, December 5th. They set a neutral rating and a $28.00 price objective for the company. Wells Fargo & Co began coverage on shares of EVO Payments in a report on Monday, October 21st. They set an outperform rating and a $32.00 price objective for the company. Finally, BTIG Research raised shares of EVO Payments from a neutral rating to a buy rating and set a $32.00 price objective for the company in a report on Sunday, January 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $30.01.

Shares of EVOP stock opened at $28.12 on Wednesday. The company has a market cap of $2.34 billion, a price-to-earnings ratio of -70.30, a PEG ratio of 2.79 and a beta of 0.54. The firm has a fifty day moving average price of $27.04 and a 200-day moving average price of $28.33. EVO Payments has a 1 year low of $23.96 and a 1 year high of $31.93.

EVO Payments (NASDAQ:EVOP) last issued its earnings results on Thursday, November 7th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.03. The company had revenue of $152.60 million during the quarter, compared to the consensus estimate of $146.83 million. EVO Payments had a negative net margin of 2.11% and a negative return on equity of 5.02%. EVO Payments’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.17 EPS. As a group, sell-side analysts expect that EVO Payments will post 0.54 earnings per share for the current fiscal year.

In other EVO Payments news, insider Darren Wilson sold 4,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $27.58, for a total transaction of $110,320.00. Also, EVP Michael L. Reidenbach sold 2,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $27.58, for a total transaction of $55,160.00. Insiders have sold a total of 18,000 shares of company stock valued at $495,240 in the last three months. Insiders own 61.16% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. US Bancorp DE raised its position in shares of EVO Payments by 22.3% during the 2nd quarter. US Bancorp DE now owns 2,321 shares of the company’s stock valued at $73,000 after buying an additional 423 shares in the last quarter. LPL Financial LLC raised its position in shares of EVO Payments by 25.2% during the 2nd quarter. LPL Financial LLC now owns 9,935 shares of the company’s stock valued at $299,000 after buying an additional 2,001 shares in the last quarter. Great Lakes Advisors LLC raised its position in shares of EVO Payments by 1.4% during the 3rd quarter. Great Lakes Advisors LLC now owns 154,510 shares of the company’s stock valued at $4,345,000 after buying an additional 2,169 shares in the last quarter. Metropolitan Life Insurance Co NY raised its position in shares of EVO Payments by 27.1% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 10,689 shares of the company’s stock valued at $301,000 after buying an additional 2,277 shares in the last quarter. Finally, Bank of Montreal Can purchased a new stake in shares of EVO Payments during the 2nd quarter valued at about $82,000. Hedge funds and other institutional investors own 48.22% of the company’s stock.

About EVO Payments

EVO Payments, Inc operates as an integrated merchant acquirer and payment processor servicing approximately 550,000 merchants. The company processes approximately 950 million transactions in North America and approximately 2.1 billion transactions in Europe. Its payment and commerce solutions consist of gateway solutions, online fraud prevention and management reporting, online hosted payments page capabilities, security tokenization, and encryption solutions at the point-of-sale and online; dynamic currency conversion; loyalty offers; and other ancillary solutions.

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