Zacks Investment Research Downgrades TransAct Technologies (TACT) to Hold

TransAct Technologies (NASDAQ:TACT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and 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. “

Several other brokerages have also recently issued reports on TACT. B. Riley raised their target price on TransAct Technologies from $16.00 to $16.50 and gave the stock a “buy” rating in a research report on Wednesday, November 7th. ValuEngine cut TransAct Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, November 7th.

Shares of NASDAQ TACT traded up $0.29 during mid-day trading on Thursday, reaching $10.69. 51,787 shares of the company traded hands, compared to its average volume of 40,376. TransAct Technologies has a fifty-two week low of $8.40 and a fifty-two week high of $15.95. The firm has a market capitalization of $76.87 million, a PE ratio of 17.82 and a beta of 0.77.

TransAct Technologies (NASDAQ:TACT) last issued its earnings results on Tuesday, November 6th. The technology company reported $0.33 earnings per share (EPS) 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 company had revenue of $15.84 million during the quarter, compared to analyst estimates of $15.49 million. Analysts forecast that TransAct Technologies will post 0.71 EPS for the current year.

In other TransAct Technologies news, Director Graham Y. Tanaka sold 7,552 shares of TransAct Technologies stock in a transaction that occurred on Monday, December 10th. The stock was sold at an average price of $9.50, for a total value of $71,744.00. Following the sale, the director now owns 77,174 shares of the company’s stock, valued at approximately $733,153. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Graham Y. Tanaka sold 3,956 shares of TransAct Technologies stock in a transaction that occurred 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 approximately $2,157,420. The disclosure for this sale can be found here. Over the last three months, insiders sold 160,379 shares of company stock worth $1,718,147. 12.53% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in TACT. Dimensional Fund Advisors LP increased its stake in TransAct Technologies by 2.6% in 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 last quarter. Cadence Capital Management LLC increased its position in shares of TransAct Technologies by 16.1% during the 3rd quarter. Cadence Capital Management LLC now owns 173,396 shares of the technology company’s stock valued at $2,497,000 after purchasing an additional 24,046 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of TransAct Technologies by 3.2% during the 3rd quarter. Renaissance Technologies LLC now owns 401,500 shares of the technology company’s stock valued at $5,782,000 after purchasing an additional 12,400 shares during the last quarter. Manatuck Hill Partners LLC increased its position in shares of TransAct Technologies by 158.8% during the 3rd quarter. Manatuck Hill Partners LLC now owns 50,853 shares of the technology company’s stock valued at $732,000 after purchasing an additional 31,200 shares during the last quarter. Finally, North Star Investment Management Corp. increased its position in shares of 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 valued at $1,016,000 after purchasing an additional 13,500 shares during the last quarter. 40.88% of the stock is currently owned by institutional investors and hedge funds.

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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