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TransAct Technologies Incorporated (TACT) Moves 6.0% Higher: Will This Strength Last?
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TransAct Technologies Incorporated (TACT - Free Report) shares soared 6% in the last trading session to close at $6.68. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 17.7% loss over the past four weeks.
The optimism surrounding the stock can be attributable to growing demand for its products and services amid accelerated digital transformation and business automation across organizations. The company's printers are trusted worldwide to provide crisp, clean transaction records from receipts, tickets and coupons, register journal and other documents.
This company is expected to post quarterly earnings of $0.01 per share in its upcoming report, which represents a year-over-year change of +102.4%. Revenues are expected to be $16.9 million, up 74.2% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For TransAct Technologies Incorporated, the consensus EPS estimate for the quarter has been revised 141.7% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on TACT going forward to see if this recent jump can turn into more strength down the road.
TransAct Technologies Incorporated is a member of the Zacks Computer - Peripheral Equipment industry. One other stock in the same industry, Logitech (LOGI - Free Report) , finished the last trading session 0.6% higher at $57.02. LOGI has returned 7.6% over the past month.
Logitech's consensus EPS estimate for the upcoming report has changed -7% over the past month to $0.42. Compared to the company's year-ago EPS, this represents a change of -48.2%. Logitech currently boasts a Zacks Rank of #4 (Sell).
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TransAct Technologies Incorporated (TACT) Moves 6.0% Higher: Will This Strength Last?
TransAct Technologies Incorporated (TACT - Free Report) shares soared 6% in the last trading session to close at $6.68. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 17.7% loss over the past four weeks.
The optimism surrounding the stock can be attributable to growing demand for its products and services amid accelerated digital transformation and business automation across organizations. The company's printers are trusted worldwide to provide crisp, clean transaction records from receipts, tickets and coupons, register journal and other documents.
This company is expected to post quarterly earnings of $0.01 per share in its upcoming report, which represents a year-over-year change of +102.4%. Revenues are expected to be $16.9 million, up 74.2% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For TransAct Technologies Incorporated, the consensus EPS estimate for the quarter has been revised 141.7% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on TACT going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
TransAct Technologies Incorporated is a member of the Zacks Computer - Peripheral Equipment industry. One other stock in the same industry, Logitech (LOGI - Free Report) , finished the last trading session 0.6% higher at $57.02. LOGI has returned 7.6% over the past month.
Logitech's consensus EPS estimate for the upcoming report has changed -7% over the past month to $0.42. Compared to the company's year-ago EPS, this represents a change of -48.2%. Logitech currently boasts a Zacks Rank of #4 (Sell).