TransAct Technologies Incorporated (TACT) Cut to Hold at Zacks Investment Research
TransAct Technologies Incorporated (NASDAQ:TACT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “TransAct Technologies, Incorporated, designs, develops, manufactures and markets transaction-based printers and related products under the ITHACA and MAGNETEC and TRANSACT.COM brand names. The company focuses on five vertical markets: point-of-sale(POS), gaming and lottery, financial services, kiosk and Internet. The company’s printers are trusted world-wide to provide crisp, clean transaction records from receipts, tickets and coupons, register journal and other documents. “
A number of other research analysts have also recently commented on TACT. ValuEngine upgraded TransAct Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. B. Riley reiterated a “buy” rating and issued a $11.00 price target on shares of TransAct Technologies in a research note on Wednesday, August 2nd.
TransAct Technologies (TACT) traded down 3.40% during midday trading on Wednesday, hitting $9.95. The stock had a trading volume of 4,960 shares. The stock has a market cap of $73.26 million, a price-to-earnings ratio of 18.70 and a beta of 0.73. The company has a 50-day moving average of $9.81 and a 200-day moving average of $8.97. TransAct Technologies has a 1-year low of $5.89 and a 1-year high of $10.60.
TransAct Technologies (NASDAQ:TACT) last released its earnings results on Thursday, August 3rd. The technology company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.06. TransAct Technologies had a return on equity of 16.68% and a net margin of 7.27%. The firm had revenue of $13.60 million during the quarter, compared to analysts’ expectations of $14.35 million. Equities research analysts forecast that TransAct Technologies will post $0.53 EPS for the current year.
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In other news, CFO Steven A. Demartino sold 2,583 shares of the stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $9.75, for a total value of $25,184.25. Following the completion of the transaction, the chief financial officer now directly owns 47,419 shares in the company, valued at approximately $462,335.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Bart C. Shuldman sold 15,400 shares of the stock in a transaction on Friday, September 15th. The shares were sold at an average price of $9.24, for a total value of $142,296.00. Following the completion of the transaction, the chairman now owns 12,494 shares of the company’s stock, valued at $115,444.56. The disclosure for this sale can be found here. Insiders sold a total of 37,360 shares of company stock valued at $352,752 over the last quarter. 11.57% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. M&T Bank Corp bought a new position in shares of TransAct Technologies in the 1st quarter valued at $162,000. Northern Trust Corp lifted its stake in shares of TransAct Technologies by 7.0% in the 2nd quarter. Northern Trust Corp now owns 26,419 shares of the technology company’s stock valued at $223,000 after acquiring an additional 1,730 shares during the last quarter. Algert Global LLC lifted its stake in shares of TransAct Technologies by 10.0% in the 2nd quarter. Algert Global LLC now owns 41,354 shares of the technology company’s stock valued at $349,000 after acquiring an additional 3,765 shares during the last quarter. LSV Asset Management lifted its stake in shares of TransAct Technologies by 55.5% in the 2nd quarter. LSV Asset Management now owns 50,600 shares of the technology company’s stock valued at $430,000 after acquiring an additional 18,070 shares during the last quarter. Finally, B. Riley Financial Inc. lifted its stake in shares of TransAct Technologies by 23.2% in the 2nd quarter. B. Riley Financial Inc. now owns 73,254 shares of the technology company’s stock valued at $622,000 after acquiring an additional 13,817 shares during the last quarter. Institutional investors own 37.23% of the company’s stock.
About TransAct Technologies
TransAct Technologies Incorporated (TransAct) designs, develops and sells market-specific solutions, including printers, terminals, software and other products for transaction-based and other industries. The Company operates through the segment, which includes design, development, assembly and marketing of transaction printers and terminals, and providing printer and terminal related software, services, supplies and spare parts.
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