Zacks Investment Research upgraded shares of TransAct Technologies (NASDAQ:TACT) from a hold rating to a buy rating in a research report sent to investors on Friday morning. The firm currently has $11.00 target price 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 research analysts have also recently commented on the company. ValuEngine cut TransAct Technologies from a hold rating to a sell rating in a research note on Friday, November 16th. B. Riley increased their price target on TransAct Technologies from $16.00 to $16.50 and gave the company a buy rating in a research note on Wednesday, November 7th.
NASDAQ TACT traded up $0.03 on Friday, hitting $9.58. 6,168 shares of the company’s stock were exchanged, compared to its average volume of 33,683. TransAct Technologies has a 52 week low of $8.40 and a 52 week high of $15.95. The stock has a market capitalization of $69.70 million, a PE ratio of 15.97 and a beta of 0.77.
TransAct Technologies (NASDAQ:TACT) last released its earnings results on Tuesday, November 6th. The technology company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.09. TransAct Technologies had a return on equity of 21.01% and a net margin of 7.23%. The firm had revenue of $15.84 million during the quarter, compared to analysts’ expectations of $15.49 million. On average, equities research analysts expect that TransAct Technologies will post 0.71 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 14th. Stockholders of record on Tuesday, November 20th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date of this dividend was Monday, November 19th. TransAct Technologies’s payout ratio is 60.00%.
In related news, Director Graham Y. Tanaka sold 3,956 shares of the stock in a transaction on Friday, November 9th. The stock was sold at an average price of $12.30, for a total value of $48,658.80. Following the completion of the sale, the director now directly owns 175,400 shares in the company, valued at $2,157,420. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Graham Y. Tanaka sold 7,552 shares of the stock in a transaction on Monday, December 10th. The shares were sold at an average price of $9.50, for a total value of $71,744.00. Following the completion of the sale, the director now owns 77,174 shares of the company’s stock, valued at $733,153. The disclosure for this sale can be found here. Insiders sold a total of 160,379 shares of company stock valued at $1,718,147 over the last quarter. 12.53% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of TACT. Renaissance Technologies LLC grew its holdings in TransAct Technologies by 3.2% during the 3rd quarter. Renaissance Technologies LLC now owns 401,500 shares of the technology company’s stock worth $5,782,000 after acquiring an additional 12,400 shares during the period. Dimensional Fund Advisors LP grew its holdings in TransAct Technologies by 2.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 295,092 shares of the technology company’s stock worth $3,689,000 after acquiring an additional 7,428 shares during the period. Cadence Capital Management LLC grew its holdings in TransAct Technologies by 16.1% during the 3rd quarter. Cadence Capital Management LLC now owns 173,396 shares of the technology company’s stock worth $2,497,000 after acquiring an additional 24,046 shares during the period. North Star Investment Management Corp. grew its holdings in TransAct Technologies by 13.6% during the 4th quarter. North Star Investment Management Corp. now owns 113,100 shares of the technology company’s stock worth $1,016,000 after acquiring an additional 13,500 shares during the period. Finally, Manatuck Hill Partners LLC grew its holdings in TransAct Technologies by 158.8% during the 3rd quarter. Manatuck Hill Partners LLC now owns 50,853 shares of the technology company’s stock worth $732,000 after acquiring an additional 31,200 shares during the period. Institutional investors and hedge funds own 40.70% of the company’s stock.
About TransAct Technologies
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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