B. Riley reaffirmed their buy rating on shares of TransAct Technologies Incorporated (NASDAQ:TACT) in a research report sent to investors on Friday morning. B. Riley currently has a $11.00 price objective on the technology company’s stock.
“We model Q3 revenue of $14.6 million, adjusted EBITDA at $1.8 million and EPS at $0.12 (we are the only current estimates included in consensus). Management does not provide guidance and revenues can fluctuate due to large roll outs, installations, and project-based engagements, making quarterly projections particularly challenging. We expect commentary around contributions from higher margin products (restaurant, spare parts, labels, service, and casino bonusing products) to be a key focus for investors.”,” the firm’s analyst commented.
A number of other research analysts also recently commented on TACT. ValuEngine raised TransAct Technologies from a hold rating to a buy rating in a report on Friday, August 4th. Zacks Investment Research raised TransAct Technologies from a hold rating to a buy rating and set a $11.00 price target for the company in a report on Saturday, August 26th.
Shares of TransAct Technologies (NASDAQ:TACT) traded down 0.52% during midday trading on Friday, hitting $9.60. The stock had a trading volume of 15,738 shares. The stock has a 50 day moving average of $9.69 and a 200-day moving average of $9.09. TransAct Technologies has a one year low of $5.90 and a one year high of $10.60. The company has a market cap of $70.68 million, a P/E ratio of 18.05 and a beta of 0.73.
TransAct Technologies (NASDAQ:TACT) last issued its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. The firm had revenue of $13.60 million during the quarter, compared to the consensus estimate of $14.35 million. TransAct Technologies had a return on equity of 16.68% and a net margin of 7.27%. Analysts forecast that TransAct Technologies will post $0.53 EPS for the current fiscal year.
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In other TransAct Technologies news, CFO Steven A. Demartino sold 2,583 shares of the stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $9.75, for a total transaction of $25,184.25. Following the transaction, the chief financial officer now owns 47,419 shares of the company’s stock, valued at approximately $462,335.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Steven A. Demartino sold 3,293 shares of the stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $9.70, for a total value of $31,942.10. Following the transaction, the chief financial officer now directly owns 47,419 shares in the company, valued at approximately $459,964.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,360 shares of company stock worth $352,752. 11.57% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the business. Northern Trust Corp lifted its holdings in TransAct Technologies by 7.0% during the 2nd quarter. Northern Trust Corp now owns 26,419 shares of the technology company’s stock worth $223,000 after buying an additional 1,730 shares during the last quarter. Algert Global LLC lifted its holdings in TransAct Technologies by 10.0% during the 2nd quarter. Algert Global LLC now owns 41,354 shares of the technology company’s stock worth $349,000 after buying an additional 3,765 shares during the last quarter. LSV Asset Management lifted its holdings in TransAct Technologies by 55.5% during the 2nd quarter. LSV Asset Management now owns 50,600 shares of the technology company’s stock worth $430,000 after buying an additional 18,070 shares during the last quarter. B. Riley Financial Inc. lifted its holdings in TransAct Technologies by 23.2% during the 2nd quarter. B. Riley Financial Inc. now owns 73,254 shares of the technology company’s stock worth $622,000 after buying an additional 13,817 shares during the last quarter. Finally, North Star Investment Management Corp. bought a new position in TransAct Technologies during the 2nd quarter worth approximately $782,000. 37.24% of the stock is currently owned by institutional investors.
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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