Zacks: TransAct Technologies Incorporated (TACT) Given $13.00 Average Price Target by Brokerages
TransAct Technologies Incorporated (NASDAQ:TACT) has earned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy recommendation.
Analysts have set a 12-month consensus price target of $13.00 for the company and are forecasting that the company will post $0.14 EPS for the current quarter, according to Zacks. Zacks has also given TransAct Technologies an industry rank of 98 out of 265 based on the ratings given to its competitors.
A number of analysts have commented on TACT shares. ValuEngine raised shares of TransAct Technologies from a “hold” rating to a “buy” rating in a report on Thursday, November 2nd. Zacks Investment Research raised shares of TransAct Technologies from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a report on Saturday, November 4th. Finally, B. Riley reissued a “buy” rating and issued a $11.00 price objective on shares of TransAct Technologies in a research note on Friday, October 27th.
Shares of TransAct Technologies (NASDAQ:TACT) traded down $0.05 during mid-day trading on Wednesday, reaching $13.15. 12,043 shares of the company’s stock were exchanged, compared to its average volume of 18,107. TransAct Technologies has a twelve month low of $6.43 and a twelve month high of $15.55. The stock has a market capitalization of $96.49, a PE ratio of 19.63 and a beta of 0.91.
TransAct Technologies (NASDAQ:TACT) last announced its earnings results on Wednesday, November 1st. The technology company reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.12. TransAct Technologies had a net margin of 8.78% and a return on equity of 19.99%. The business had revenue of $15.52 million during the quarter, compared to analysts’ expectations of $14.58 million. analysts predict that TransAct Technologies will post 0.62 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Monday, November 20th were paid a $0.09 dividend. The ex-dividend date was Friday, November 17th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.74%. TransAct Technologies’s dividend payout ratio (DPR) is presently 54.55%.
In other news, Director Graham Y. Tanaka sold 2,095 shares of the stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $13.39, for a total value of $28,052.05. Following the completion of the sale, the director now directly owns 194,153 shares of the company’s stock, valued at $2,599,708.67. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Tracey S. Chernay sold 14,250 shares of the stock in a transaction on Friday, November 17th. The stock was sold at an average price of $14.02, for a total transaction of $199,785.00. Following the completion of the sale, the senior vice president now directly owns 3,000 shares of the company’s stock, valued at $42,060. The disclosure for this sale can be found here. Over the last three months, insiders sold 102,663 shares of company stock valued at $1,360,511. Corporate insiders own 13.22% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Algert Global LLC increased its stake in shares of TransAct Technologies by 30.3% in the third quarter. Algert Global LLC now owns 53,883 shares of the technology company’s stock worth $525,000 after purchasing an additional 12,529 shares in the last quarter. B. Riley Financial Inc. increased its stake in shares of TransAct Technologies by 80.3% in the third quarter. B. Riley Financial Inc. now owns 132,047 shares of the technology company’s stock worth $1,305,000 after purchasing an additional 58,793 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of TransAct Technologies by 2.4% in the third quarter. Dimensional Fund Advisors LP now owns 243,683 shares of the technology company’s stock worth $2,376,000 after purchasing an additional 5,607 shares in the last quarter. Macquarie Group Ltd. purchased a new stake in shares of TransAct Technologies in the third quarter worth $123,000. Finally, Northern Trust Corp increased its stake in shares of TransAct Technologies by 7.0% in the second quarter. Northern Trust Corp now owns 26,419 shares of the technology company’s stock worth $223,000 after purchasing an additional 1,730 shares in the last quarter. 38.27% of the stock is owned by hedge funds and other institutional investors.
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About TransAct Technologies
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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