Zacks Investment Research lowered shares of TransAct Technologies (NASDAQ:TACT) from a strong-buy rating to a hold rating in a research note published on Thursday.
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. “
Other analysts also recently issued research reports about the stock. ValuEngine downgraded shares of TransAct Technologies from a buy rating to a hold rating in a research report on Wednesday, November 7th. B. Riley raised their price target on shares of TransAct Technologies from $16.00 to $16.50 and gave the stock a buy rating in a research report on Wednesday, November 7th.
TACT stock opened at $9.58 on Thursday. TransAct Technologies has a twelve month low of $8.40 and a twelve month high of $15.95. The company has a market cap of $69.70 million, a PE ratio of 15.97 and a beta of 0.77.
TransAct Technologies (NASDAQ:TACT) last released its quarterly earnings results on Tuesday, November 6th. The technology company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.09. TransAct Technologies had a net margin of 7.23% and a return on equity of 21.01%. The business had revenue of $15.84 million during the quarter, compared to the consensus estimate of $15.49 million. Research analysts expect that TransAct Technologies will post 0.71 EPS for the current fiscal year.
In other news, Director Graham Y. Tanaka sold 32,385 shares of the firm’s stock in a transaction that occurred on Friday, November 23rd. The shares were sold at an average price of $10.49, for a total transaction of $339,718.65. Following the completion of the sale, the director now owns 131,971 shares of the company’s stock, valued at $1,384,375.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Tracey S. Chernay sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 29th. The stock was sold at an average price of $10.49, for a total transaction of $41,960.00. Following the sale, the senior vice president now directly owns 4,000 shares of the company’s stock, valued at approximately $41,960. The disclosure for this sale can be found here. Insiders have sold 160,379 shares of company stock valued at $1,718,147 in the last three months. Corporate insiders own 12.53% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its stake in TransAct Technologies by 2.6% during the second quarter. Dimensional Fund Advisors LP now owns 295,092 shares of the technology company’s stock worth $3,689,000 after purchasing an additional 7,428 shares during the last quarter. Renaissance Technologies LLC lifted its stake in TransAct Technologies by 3.2% during the third quarter. Renaissance Technologies LLC now owns 401,500 shares of the technology company’s stock worth $5,782,000 after purchasing an additional 12,400 shares during the last quarter. North Star Investment Management Corp. lifted its stake in TransAct Technologies by 13.6% during the fourth quarter. North Star Investment Management Corp. now owns 113,100 shares of the technology company’s stock worth $1,016,000 after purchasing an additional 13,500 shares during the last quarter. Cadence Capital Management LLC lifted its stake in TransAct Technologies by 16.1% during the third quarter. Cadence Capital Management LLC now owns 173,396 shares of the technology company’s stock worth $2,497,000 after purchasing an additional 24,046 shares during the last quarter. Finally, Manatuck Hill Partners LLC lifted its stake in TransAct Technologies by 158.8% during the third quarter. Manatuck Hill Partners LLC now owns 50,853 shares of the technology company’s stock worth $732,000 after purchasing an additional 31,200 shares during the last quarter. Hedge funds and other institutional investors own 40.70% of the company’s stock.
TransAct Technologies Company Profile
TransAct Technologies Incorporated designs, develops, assembles, and markets transaction-based and specialty printers and terminals in the United States and internationally. It offers thermal, inkjet, and impact printers and terminals to generate labels and transaction records, such as receipts, tickets, coupons, register journals, and other documents, as well as printed logging and plotting of data.
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