TransAct Technologies Incorporated (TACT) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of TransAct Technologies Incorporated (NASDAQ:TACT) from a hold rating to a buy rating in a research report released on Saturday. They currently have $13.00 price target 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. “
Several other equities research analysts have also recently weighed in on TACT. B. Riley reiterated a buy rating and set a $11.00 price target on shares of TransAct Technologies in a research report on Wednesday, August 2nd. ValuEngine upgraded shares of TransAct Technologies from a hold rating to a buy rating in a research report on Thursday, November 2nd.
Shares of TransAct Technologies (NASDAQ TACT) opened at $12.90 on Friday. The company has a market cap of $94.26, a price-to-earnings ratio of 19.10 and a beta of 0.75. TransAct Technologies has a one year low of $5.89 and a one year high of $12.95.
TransAct Technologies (NASDAQ:TACT) last issued its quarterly earnings results 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. The company had revenue of $15.52 million for 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 20.31%. equities analysts forecast that TransAct Technologies will post 0.62 earnings per share for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Monday, November 20th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date is Friday, November 17th. TransAct Technologies’s payout ratio is currently 53.73%.
In other news, 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 transaction of $31,942.10. Following the completion of the sale, the chief financial officer now owns 47,419 shares of the company’s stock, valued at $459,964.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Steven A. Demartino sold 2,583 shares of the stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $9.75, for a total value of $25,184.25. Following the sale, the chief financial officer now directly owns 47,419 shares of the company’s stock, valued at approximately $462,335.25. The disclosure for this sale can be found here. Insiders have sold 37,360 shares of company stock worth $352,752 over the last quarter. Company insiders own 13.22% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. 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 during the period. 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 during the period. 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 during the period. 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 during the period. Finally, North Star Investment Management Corp. purchased a new stake in shares of TransAct Technologies during the second quarter valued at approximately $782,000. 37.24% of the stock is owned by hedge funds and other institutional investors.
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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