TransAct Technologies (TACT) Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of TransAct Technologies (NASDAQ:TACT) from a strong-buy rating to a hold rating in a research report report published 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. “

A number of other equities research analysts have also recently weighed in on TACT. ValuEngine cut shares of TransAct Technologies from a hold rating to a sell rating in a research note on Friday, November 16th. B. Riley lifted their price objective on shares of TransAct Technologies from $16.00 to $16.50 and gave the company a buy rating in a research note on Wednesday, November 7th.

TACT stock opened at $9.58 on Thursday. The firm has a market capitalization of $69.70 million, a price-to-earnings ratio of 15.97 and a beta of 0.77. TransAct Technologies has a 1 year low of $8.40 and a 1 year high of $15.95.

TransAct Technologies (NASDAQ:TACT) last issued its quarterly earnings data on Tuesday, November 6th. The technology company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.09. TransAct Technologies had a net margin of 7.23% and a return on equity of 21.01%. The business had revenue of $15.84 million for the quarter, compared to analysts’ expectations of $15.49 million. On average, equities research analysts anticipate that TransAct Technologies will post 0.71 EPS for the current fiscal year.

In related news, Director Graham Y. Tanaka sold 32,385 shares of TransAct Technologies stock in a transaction dated Friday, November 23rd. The stock was sold at an average price of $10.49, for a total transaction of $339,718.65. Following the transaction, the director now directly owns 131,971 shares of the company’s stock, valued at $1,384,375.79. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Graham Y. Tanaka sold 3,956 shares of TransAct Technologies stock in a transaction dated Friday, November 9th. The stock was sold at an average price of $12.30, for a total value of $48,658.80. Following the transaction, the director now directly owns 175,400 shares in the company, valued at $2,157,420. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 160,379 shares of company stock worth $1,718,147. Company insiders own 12.53% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in TACT. Manatuck Hill Partners LLC grew its holdings in TransAct Technologies by 158.8% during the third 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. North Star Investment Management Corp. grew its holdings in TransAct Technologies by 13.6% during the fourth 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. Cadence Capital Management LLC grew its holdings in TransAct Technologies by 16.1% during the third 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. Dimensional Fund Advisors LP grew its holdings in TransAct Technologies by 2.6% during the second 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. Finally, Renaissance Technologies LLC grew its holdings in TransAct Technologies by 3.2% during the third 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. 40.70% of the stock is currently owned by hedge funds and other institutional investors.

TransAct Technologies Company Profile

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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