TransAct Technologies Incorporated (TACT) Rating Increased to Buy at Zacks Investment Research
TransAct Technologies Incorporated (NASDAQ:TACT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Saturday. The brokerage currently has a $13.00 price target on the technology company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 1.56% from the company’s current price.
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. “
Several other equities analysts have also commented on the company. ValuEngine upgraded TransAct Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 4th. B. Riley reiterated a “buy” rating and issued a $11.00 target price on shares of TransAct Technologies in a research note on Friday, October 27th.
Shares of TransAct Technologies (NASDAQ:TACT) opened at $12.80 on Friday. The stock has a market cap of $86.16, a PE ratio of 17.46 and a beta of 0.75.
TransAct Technologies (NASDAQ:TACT) last released its earnings results on Wednesday, November 1st. The technology company reported $0.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.12. The firm had revenue of $15.52 million during the quarter, compared to analyst estimates of $14.58 million. TransAct Technologies had a return on equity of 20.31% and a net margin of 8.78%. equities analysts expect that TransAct Technologies will post 0.53 earnings per share for the current fiscal year.
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In other TransAct Technologies news, Chairman Bart C. Shuldman sold 15,400 shares of the company’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $9.24, for a total transaction of $142,296.00. Following the completion of the sale, the chairman now directly owns 12,494 shares in the company, valued at $115,444.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Bart C. Shuldman sold 4,101 shares of the company’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $9.54, for a total value of $39,123.54. Following the sale, the chairman now owns 13,115 shares of the company’s stock, valued at $125,117.10. The disclosure for this sale can be found here. Insiders have sold 37,360 shares of company stock valued at $352,752 over the last 90 days. 11.57% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the company. Northern Trust Corp grew its stake in shares of TransAct Technologies by 7.0% in the second quarter. Northern Trust Corp now owns 26,419 shares of the technology company’s stock valued at $223,000 after buying an additional 1,730 shares in the last quarter. Algert Global LLC grew its stake in shares of TransAct Technologies by 10.0% in the second quarter. Algert Global LLC now owns 41,354 shares of the technology company’s stock valued at $349,000 after buying an additional 3,765 shares in the last quarter. LSV Asset Management grew its stake in shares of TransAct Technologies by 55.5% in the second quarter. LSV Asset Management now owns 50,600 shares of the technology company’s stock valued at $430,000 after buying an additional 18,070 shares in the last quarter. B. Riley Financial Inc. grew its stake in shares of TransAct Technologies by 23.2% in the second quarter. B. Riley Financial Inc. now owns 73,254 shares of the technology company’s stock valued at $622,000 after buying an additional 13,817 shares in the last quarter. Finally, North Star Investment Management Corp. acquired a new stake in shares of TransAct Technologies in the second quarter valued at about $782,000. Institutional investors and hedge funds own 37.24% 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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