Zacks: Analysts Set $16.00 Price Target for TransAct Technologies Incorporated (TACT)

TransAct Technologies Incorporated (NASDAQ:TACT) has been given an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating.

Brokers have set a one year consensus price objective of $16.00 for the company and are predicting that the company will post $0.24 earnings per share for the current quarter, according to Zacks. Zacks has also given TransAct Technologies an industry rank of 113 out of 255 based on the ratings given to related companies.

TACT has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of TransAct Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, July 7th. B. Riley reissued a “buy” rating on shares of TransAct Technologies in a research note on Friday, August 3rd.



In related news, Chairman Bart C. Shuldman sold 5,823 shares of the company’s stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $14.53, for a total value of $84,608.19. Following the completion of the sale, the chairman now directly owns 22,028 shares of the company’s stock, valued at $320,066.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Thomas R. Schwarz sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $14.72, for a total transaction of $73,600.00. Following the completion of the sale, the director now directly owns 39,034 shares of the company’s stock, valued at $574,580.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,557 shares of company stock valued at $299,164. 12.53% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Manatuck Hill Partners LLC purchased a new stake in TransAct Technologies in the 2nd quarter worth approximately $246,000. Acadian Asset Management LLC lifted its position in shares of TransAct Technologies by 23.8% during the 2nd quarter. Acadian Asset Management LLC now owns 73,585 shares of the technology company’s stock valued at $920,000 after buying an additional 14,156 shares in the last quarter. Cadence Capital Management LLC lifted its position in shares of TransAct Technologies by 20.4% during the 2nd quarter. Cadence Capital Management LLC now owns 149,350 shares of the technology company’s stock valued at $1,867,000 after buying an additional 25,330 shares in the last quarter. Cowen Prime Services LLC lifted its position in shares of TransAct Technologies by 5.4% during the 2nd quarter. Cowen Prime Services LLC now owns 163,291 shares of the technology company’s stock valued at $2,041,000 after buying an additional 8,299 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of TransAct Technologies by 2.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 295,092 shares of the technology company’s stock valued at $3,689,000 after buying an additional 7,428 shares in the last quarter. 41.42% of the stock is owned by institutional investors.

TACT stock traded up $0.07 during mid-day trading on Friday, reaching $15.14. 9,906 shares of the stock traded hands, compared to its average volume of 17,543. TransAct Technologies has a one year low of $9.20 and a one year high of $15.95. The stock has a market capitalization of $111.70 million, a price-to-earnings ratio of 24.82 and a beta of 0.79.

TransAct Technologies (NASDAQ:TACT) last posted its quarterly earnings data on Thursday, August 2nd. The technology company reported $0.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.07. The business had revenue of $14.75 million for the quarter, compared to analysts’ expectations of $12.64 million. TransAct Technologies had a net margin of 5.91% and a return on equity of 18.19%. Equities research analysts forecast that TransAct Technologies will post 0.65 earnings per share for the current fiscal year.

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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