Zacks Investment Research upgraded shares of TransAct Technologies (NASDAQ:TACT) from a hold rating to a buy rating in a report published on Wednesday morning. Zacks Investment Research currently has $17.00 price objective on the technology company’s stock.
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 also recently issued reports on TACT. B. Riley restated a buy rating and set a $11.00 price target on shares of TransAct Technologies in a report on Friday, October 27th. ValuEngine upgraded shares of TransAct Technologies from a hold rating to a buy rating in a report on Thursday, November 2nd.
Shares of TransAct Technologies (TACT) opened at $15.00 on Wednesday. The stock has a market cap of $110.49, a P/E ratio of 22.73 and a beta of 0.91. TransAct Technologies has a 1-year low of $6.80 and a 1-year high of $15.80.
TransAct Technologies (NASDAQ:TACT) last announced its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.12. The business had revenue of $15.52 million during the quarter, compared to the consensus estimate of $14.58 million. TransAct Technologies had a net margin of 8.78% and a return on equity of 19.99%. research analysts forecast that TransAct Technologies will post 0.62 earnings per share for the current year.
In related news, SVP Andrew John Hoffman sold 30,000 shares of TransAct Technologies stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $13.01, for a total value of $390,300.00. Following the completion of the sale, the senior vice president now owns 14,791 shares in the company, valued at approximately $192,430.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Tracey S. Chernay sold 14,250 shares of TransAct Technologies stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $14.02, for a total transaction of $199,785.00. Following the completion of the sale, the senior vice president now owns 3,000 shares of the company’s stock, valued at approximately $42,060. The disclosure for this sale can be found here. Insiders have sold a total of 102,663 shares of company stock valued at $1,360,511 in the last 90 days. Insiders own 13.22% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. B. Riley Financial Inc. increased its holdings in TransAct Technologies by 80.3% in the 3rd quarter. B. Riley Financial Inc. now owns 132,047 shares of the technology company’s stock valued at $1,305,000 after purchasing an additional 58,793 shares during the last quarter. Algert Global LLC increased its holdings in TransAct Technologies by 30.3% in the 3rd quarter. Algert Global LLC now owns 53,883 shares of the technology company’s stock valued at $525,000 after purchasing an additional 12,529 shares during the last quarter. Macquarie Group Ltd. acquired a new stake in TransAct Technologies in the 3rd quarter valued at approximately $123,000. Cowen Prime Services LLC increased its holdings in TransAct Technologies by 4.8% in the 4th quarter. Cowen Prime Services LLC now owns 159,952 shares of the technology company’s stock valued at $2,119,000 after purchasing an additional 7,358 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in TransAct Technologies by 7.0% in the 2nd 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 during the last quarter. Hedge funds and other institutional investors own 38.47% of the company’s stock.
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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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