Zacks Research Upgrades TransAct Technologies (NASDAQ:TACT) to Strong-Buy

TransAct Technologies (NASDAQ:TACT) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Thursday,Zacks.com reports.

Several other research analysts also recently issued reports on TACT. Wall Street Zen downgraded TransAct Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 20th. Weiss Ratings restated a “sell (d-)” rating on shares of TransAct Technologies in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.00.

TransAct Technologies Stock Up 7.3%

Shares of NASDAQ:TACT opened at $4.09 on Thursday. The firm has a market cap of $41.35 million, a P/E ratio of -5.11 and a beta of 1.25. TransAct Technologies has a 12 month low of $3.12 and a 12 month high of $5.70. The company’s 50-day moving average price is $4.22 and its two-hundred day moving average price is $4.32.

TransAct Technologies (NASDAQ:TACT) last announced its earnings results on Monday, November 10th. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.03. TransAct Technologies had a negative net margin of 16.05% and a negative return on equity of 2.42%. The company had revenue of $13.18 million for the quarter, compared to analyst estimates of $13.10 million. As a group, equities analysts predict that TransAct Technologies will post -0.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TACT. Quinn Opportunity Partners LLC grew its stake in shares of TransAct Technologies by 68.3% during the second quarter. Quinn Opportunity Partners LLC now owns 64,288 shares of the technology company’s stock worth $235,000 after purchasing an additional 26,083 shares during the period. Silverberg Bernstein Capital Management LLC boosted its holdings in TransAct Technologies by 31.2% during the second quarter. Silverberg Bernstein Capital Management LLC now owns 544,259 shares of the technology company’s stock worth $1,992,000 after buying an additional 129,289 shares during the last quarter. Teton Advisors LLC acquired a new position in shares of TransAct Technologies during the 3rd quarter worth about $176,000. Coldstream Capital Management Inc. bought a new stake in shares of TransAct Technologies in the 3rd quarter valued at about $58,000. Finally, NewEdge Advisors LLC bought a new stake in shares of TransAct Technologies in the 3rd quarter valued at about $290,000. 74.46% of the stock is currently owned by institutional investors.

TransAct Technologies Company Profile

TransAct Technologies Inc designs, manufactures and distributes secure card issuance systems and embedded transactional printing solutions for a variety of industries. The company’s portfolio includes high-speed card printers, card personalization and issuance software, as well as embedded printers used in kiosks, point-of-sale terminals, lottery machines and gaming applications. TransAct’s products are built to deliver reliable, on-demand printing and secure card encoding for markets that require rapid, accurate issuance of payment cards, identification badges and tickets.

Within its secure card solutions segment, TransAct offers turnkey systems that integrate card printing, magnetic stripe encoding, smart card personalization and instant card issuance software.