TransAct Technologies Incorporated (NASDAQ:TACT) Given Average Recommendation of “Buy” by Brokerages

Shares of TransAct Technologies Incorporated (NASDAQ:TACT – Get Rating) have been given an average recommendation of “Hold” by the six brokerages that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating. The average 12 month price target among brokerages that have covered the stock in the last year is $13.67.

A number of analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of TransAct Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday. Barrington Research decreased their price target on shares of TransAct Technologies from $20.00 to $15.00 in a research note on Thursday, March 10th. Roth Capital cut their price objective on shares of TransAct Technologies from $21.00 to $14.00 in a research report on Thursday, March 10th. Craig Hallum cut their price objective on shares of TransAct Technologies from $20.00 to $12.00 in a research report on Thursday, March 10th. Finally, StockNews.com began coverage on shares of TransAct Technologies in a research report on Monday. They set a “hold” rating for the company.

NASDAQ:TACT traded up $0.30 during trading hours on Tuesday, reaching $7.74. 57,642 shares of the company’s stock were exchanged, compared to its average volume of 33,333. The firm has a market capitalization of $76.55 million, a price-to-earnings ratio of -16.47 and a beta of 1.93. The company has a 50-day moving average of $8.36 and a 200 day moving average of $10.48. TransAct Technologies has a 1-year low of $6.65 and a 1-year high of $17.18.

TransAct Technologies (NASDAQ:TACT – Get Rating) last issued its quarterly earnings results on Wednesday, March 9th. The technology company reported ($0.19) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.23) by $0.04. The firm had revenue of $11.12 million during the quarter, compared to analysts’ expectations of $10.24 million. TransAct Technologies had a negative net margin of 10.52% and a negative return on equity of 22.43%. During the same quarter in the prior year, the business earned ($0.22) EPS. Equities research analysts forecast that TransAct Technologies will post -0.76 earnings per share for the current fiscal year.

In related news, major shareholder 325 Capital Llc purchased 7,622 shares of the business’s stock in a transaction dated Thursday, January 27th. The stock was acquired at an average price of $8.66 per share, for a total transaction of $66,006.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 11.99% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Barclays PLC grew its stake in TransAct Technologies by 238.0% in the 3rd quarter. Barclays PLC now owns 2,552 shares of the technology company’s stock valued at $35,000 after acquiring an additional 1,797 shares during the last quarter. Manatuck Hill Partners LLC acquired a new stake in TransAct Technologies in the 3rd quarter valued at about $209,000. Morgan Stanley grew its stake in TransAct Technologies by 6.6% in the 2nd quarter. Morgan Stanley now owns 18,266 shares of the technology company’s stock valued at $251,000 after acquiring an additional 1,134 shares during the last quarter. Potomac Capital Management Inc. acquired a new stake in TransAct Technologies in the 4th quarter valued at about $448,000. Finally, Geode Capital Management LLC grew its stake in TransAct Technologies by 45.7% in the 3rd quarter. Geode Capital Management LLC now owns 64,676 shares of the technology company’s stock valued at $898,000 after acquiring an additional 20,274 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

TransAct Technologies Company Profile (Get Rating)

TransAct Technologies, Inc operates as a software-driven technology and printing solutions company. It engages in food safety, POS automation, casino and gaming, lottery, mobile and oil and gas. The firm’s products are sold under the AccuDate, EPICENTRAL, Epic, Ithaca, RESPONDER and Printrex brands. It supplies consumables used in the printing and scanning activities of customers in the hospitality, banking, retail, gaming, government and oil and gas exploration markets.

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