TransAct Technologies Incorporated (NASDAQ:TACT) Upgraded 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 research report issued on Saturday, November 4th. The brokerage currently has a $13.00 price objective on the technology company’s stock. Zacks Investment Research‘s price objective suggests a potential downside of 10.03% 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. “

A number of other analysts have also weighed in on TACT. B. Riley reissued a “buy” rating and issued a $11.00 price objective on shares of TransAct Technologies in a research report on Wednesday, August 2nd. ValuEngine raised shares of TransAct Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 4th.

TransAct Technologies (NASDAQ TACT) remained flat at $$14.45 during trading on Friday. The stock had a trading volume of 43,500 shares, compared to its average volume of 16,611. TransAct Technologies has a 1 year low of $6.00 and a 1 year high of $15.55. The company has a market capitalization of $106.44, a PE ratio of 21.57 and a beta of 0.75.

TransAct Technologies (NASDAQ:TACT) last posted its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.12. TransAct Technologies had a net margin of 8.78% and a return on equity of 19.99%. The company had revenue of $15.52 million for the quarter, compared to analyst estimates of $14.58 million. equities research analysts anticipate that TransAct Technologies will post 0.62 earnings per share for the current fiscal year.

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In other news, SVP Tracey S. Chernay sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $13.70, for a total transaction of $41,100.00. Following the transaction, the senior vice president now directly owns 3,000 shares of the company’s stock, valued at $41,100. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Bart C. Shuldman sold 15,400 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $9.24, for a total transaction of $142,296.00. Following the transaction, the chairman now directly owns 12,494 shares in the company, valued at $115,444.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 117,312 shares of company stock worth $1,410,044. Corporate insiders own 11.57% of the company’s stock.

Several large investors have recently modified their holdings of the company. Macquarie Group Ltd. bought a new position in shares of TransAct Technologies during the third quarter valued at approximately $123,000. Northern Trust Corp boosted its stake in shares of TransAct Technologies by 7.0% during the second quarter. Northern Trust Corp now owns 26,419 shares of the technology company’s stock valued at $223,000 after purchasing an additional 1,730 shares in the last quarter. Algert Global LLC boosted its stake in shares of TransAct Technologies by 10.0% during the second quarter. Algert Global LLC now owns 41,354 shares of the technology company’s stock valued at $349,000 after purchasing an additional 3,765 shares in the last quarter. LSV Asset Management boosted its stake in shares of TransAct Technologies by 55.5% during the second quarter. LSV Asset Management now owns 50,600 shares of the technology company’s stock valued at $430,000 after purchasing an additional 18,070 shares in the last quarter. Finally, B. Riley Financial Inc. boosted its stake in shares of TransAct Technologies by 23.2% during the second quarter. B. Riley Financial Inc. now owns 73,254 shares of the technology company’s stock valued at $622,000 after purchasing an additional 13,817 shares in the last quarter. 38.28% of the stock is currently owned by institutional investors and hedge funds.

TransAct Technologies Company Profile

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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