TransAct Technologies Incorporated (TACT) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of TransAct Technologies Incorporated (NASDAQ:TACT) from a hold rating to a buy rating in a research note issued to investors on Saturday 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. “
TACT has been the topic of several other reports. ValuEngine raised shares of TransAct Technologies from a hold rating to a buy rating in a research report on Friday, August 4th. B. Riley reissued a buy rating and issued a $11.00 target price on shares of TransAct Technologies in a research report on Monday, August 7th.
Shares of TransAct Technologies (TACT) opened at 9.70 on Friday. The stock has a market capitalization of $71.42 million, a PE ratio of 18.23 and a beta of 0.74. TransAct Technologies has a 12 month low of $5.89 and a 12 month high of $10.50. The stock’s 50 day moving average is $9.28 and its 200 day moving average is $8.45.
TransAct Technologies (NASDAQ:TACT) last released its earnings results on Thursday, August 3rd. The technology company reported $0.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.06. TransAct Technologies had a net margin of 7.27% and a return on equity of 16.68%. The business had revenue of $13.60 million for the quarter, compared to analysts’ expectations of $14.35 million. Analysts anticipate that TransAct Technologies will post $0.53 earnings per share for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Monday, August 21st will be given a $0.09 dividend. The ex-dividend date is Thursday, August 17th. This represents a $0.36 annualized dividend and a dividend yield of 3.71%. TransAct Technologies’s dividend payout ratio is presently 65.45%.
Several large investors have recently added to or reduced their stakes in TACT. M&T Bank Corp bought a new stake in TransAct Technologies during the first quarter valued at about $162,000. Algert Global LLC raised its position in TransAct Technologies by 24.1% in the first quarter. Algert Global LLC now owns 37,589 shares of the technology company’s stock valued at $304,000 after buying an additional 7,301 shares during the last quarter. B. Riley Financial Inc. raised its position in TransAct Technologies by 45.6% in the first quarter. B. Riley Financial Inc. now owns 59,437 shares of the technology company’s stock valued at $481,000 after buying an additional 18,606 shares during the last quarter. North Star Investment Management Corp. acquired a new position in TransAct Technologies during the second quarter valued at approximately $782,000. Finally, Renaissance Technologies LLC raised its position in TransAct Technologies by 1.1% in the first quarter. Renaissance Technologies LLC now owns 391,371 shares of the technology company’s stock valued at $3,170,000 after buying an additional 4,370 shares during the last quarter. 37.23% of the stock is currently owned by institutional investors and hedge funds.
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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