Zacks Investment Research Upgrades TransAct Technologies Inc. (TACT) to Hold
TransAct Technologies Inc. (NASDAQ:TACT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.
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. “
Separately, B. Riley reiterated a “buy” rating and set a $12.00 price target on shares of TransAct Technologies in a research note on Wednesday, August 3rd.
Shares of TransAct Technologies (NASDAQ:TACT) opened at 7.31 on Thursday. The firm has a 50-day moving average of $7.44 and a 200-day moving average of $7.75. TransAct Technologies has a 12-month low of $6.43 and a 12-month high of $10.30. The firm has a market cap of $54.53 million, a P/E ratio of 19.76 and a beta of 0.68.
TransAct Technologies (NASDAQ:TACT) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by $0.01. The business earned $14.80 million during the quarter, compared to analyst estimates of $14.89 million. TransAct Technologies had a net margin of 5.30% and a return on equity of 11.66%. On average, equities analysts forecast that TransAct Technologies will post $0.47 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Friday, August 19th were paid a dividend of $0.08 per share. The ex-dividend date was Wednesday, August 17th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.38%. TransAct Technologies’s dividend payout ratio (DPR) is 84.21%.
In other news, Chairman Bart C. Shuldman sold 6,000 shares of the business’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $7.33, for a total transaction of $43,980.00. Following the transaction, the chairman now directly owns 7,914 shares in the company, valued at $58,009.62. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 11.57% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC increased its stake in TransAct Technologies by 462.5% in the second quarter. O Shaughnessy Asset Management LLC now owns 15,406 shares of the company’s stock worth $124,000 after buying an additional 12,667 shares in the last quarter. Spark Investment Management LLC bought a new stake in TransAct Technologies during the second quarter worth approximately $163,000. Algert Global LLC increased its stake in TransAct Technologies by 13.6% in the first quarter. Algert Global LLC now owns 23,232 shares of the company’s stock worth $189,000 after buying an additional 2,781 shares in the last quarter. TIAA CREF Trust Co. FSB MO bought a new stake in TransAct Technologies during the second quarter worth approximately $200,000. Finally, B. Riley Financial Inc. increased its stake in TransAct Technologies by 14.4% in the second quarter. B. Riley Financial Inc. now owns 28,118 shares of the company’s stock worth $226,000 after buying an additional 3,540 shares in the last quarter. 35.59% of the stock is currently 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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