TransAct Technologies (NASDAQ:TACT) Upgraded at Wall Street Zen

TransAct Technologies (NASDAQ:TACT) was upgraded by analysts at Wall Street Zen to a “hold” rating in a report released on Saturday.

A number of other brokerages have also commented on TACT. Zacks Research upgraded TransAct Technologies to a “hold” rating in a report on Wednesday, June 3rd. Weiss Ratings restated a “sell (e+)” rating on shares of TransAct Technologies in a research note on Tuesday, June 9th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce”.

TransAct Technologies Stock Up 1.0%

TransAct Technologies stock opened at $5.23 on Friday. TransAct Technologies has a 52 week low of $3.06 and a 52 week high of $6.02. The company’s 50 day moving average price is $4.74 and its two-hundred day moving average price is $3.97. The stock has a market cap of $53.76 million, a P/E ratio of -104.60 and a beta of 1.21.

TransAct Technologies (NASDAQ:TACT) last announced its earnings results on Tuesday, May 12th. The technology company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.11. The firm had revenue of $14.41 million for the quarter, compared to the consensus estimate of $12.60 million. TransAct Technologies had a negative return on equity of 1.56% and a negative net margin of 0.93%. On average, equities analysts anticipate that TransAct Technologies will post -0.05 EPS for the current year.

TransAct Technologies announced that its board has initiated a share repurchase program on Wednesday, May 13th that authorizes the company to buyback $3.00 million in shares. This buyback authorization authorizes the technology company to reacquire up to 8.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TACT. Coldstream Capital Management Inc. bought a new position in shares of TransAct Technologies during the 3rd quarter valued at approximately $58,000. Goldman Sachs Group Inc. lifted its stake in TransAct Technologies by 33.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 20,464 shares of the technology company’s stock valued at $82,000 after purchasing an additional 5,100 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in TransAct Technologies during the third quarter valued at $151,000. Susquehanna International Group LLP bought a new position in TransAct Technologies during the third quarter valued at $225,000. Finally, Heron Bay Capital Management purchased a new stake in TransAct Technologies in the fourth quarter worth $236,000. 74.46% of the stock is currently owned by hedge funds and other institutional investors.

About TransAct Technologies

TransAct Technologies Inc designs, manufactures and distributes secure card issuance systems and embedded transactional printing solutions for a variety of industries. The company’s portfolio includes high-speed card printers, card personalization and issuance software, as well as embedded printers used in kiosks, point-of-sale terminals, lottery machines and gaming applications. TransAct’s products are built to deliver reliable, on-demand printing and secure card encoding for markets that require rapid, accurate issuance of payment cards, identification badges and tickets.

Within its secure card solutions segment, TransAct offers turnkey systems that integrate card printing, magnetic stripe encoding, smart card personalization and instant card issuance software.