TransAct Technologies (NASDAQ:TACT) Upgraded to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen upgraded TransAct Technologies to a “hold” rating, while the broader analyst view remains cautious with a consensus rating of “Reduce”.
• The company recently posted better-than-expected quarterly results, reporting $0.07 EPS versus an expected loss and revenue of $14.41 million, above estimates of $12.60 million.
• TransAct's board authorized a $3 million share repurchase plan, covering up to about 8.7% of outstanding shares, a move that can signal management sees the stock as undervalued.

TransAct Technologies (NASDAQ:TACT - Get Free Report) was upgraded by stock analysts at Wall Street Zen to a "hold" rating in a research report issued on Saturday.

Several other research analysts also recently weighed in on the stock. Zacks Research upgraded shares of TransAct Technologies to a "hold" rating in a report on Wednesday, June 3rd. Weiss Ratings reissued a "sell (e+)" rating on shares of TransAct Technologies in a research report on Tuesday, June 9th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Reduce".

TransAct Technologies Stock Performance

Shares of NASDAQ:TACT opened at $5.23 on Friday. TransAct Technologies has a 52-week low of $3.06 and a 52-week high of $6.02. The business's 50 day simple moving average is $4.74 and its two-hundred day simple moving average is $3.97. The firm has a market cap of $53.76 million, a P/E ratio of -104.60 and a beta of 1.21.

TransAct Technologies (NASDAQ:TACT - Get Free Report) last released its quarterly earnings data on Tuesday, May 12th. The technology company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.11. TransAct Technologies had a negative return on equity of 1.56% and a negative net margin of 0.93%.The firm had revenue of $14.41 million during the quarter, compared to the consensus estimate of $12.60 million. On average, equities analysts forecast that TransAct Technologies will post -0.05 earnings per share for the current fiscal year.

TransAct Technologies declared that its board has authorized a share buyback plan on Wednesday, May 13th that authorizes the company to repurchase $3.00 million in outstanding shares. This repurchase authorization authorizes the technology company to reacquire up to 8.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Institutional Investors Weigh In On TransAct Technologies

Several institutional investors have recently bought and sold shares of the stock. Coldstream Capital Management Inc. bought a new position in TransAct Technologies during the 3rd quarter valued at $58,000. Goldman Sachs Group Inc. boosted its holdings in TransAct Technologies by 33.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 20,464 shares of the technology company's stock worth $82,000 after acquiring an additional 5,100 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in TransAct Technologies during the 3rd quarter worth $151,000. Susquehanna International Group LLP bought a new stake in shares of TransAct Technologies in the 3rd quarter worth $225,000. Finally, Heron Bay Capital Management bought a new stake in shares of TransAct Technologies in the 4th quarter worth $236,000. Institutional investors own 74.46% of the company's stock.

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.

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