TransAct Technologies Incorporated (NASDAQ:TACT) Expected to Post Quarterly Sales of $11.48 Million

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Analysts expect TransAct Technologies Incorporated (NASDAQ:TACT – Get Rating) to report sales of $11.48 million for the current quarter, according to Zacks Investment Research. Two analysts released earnings estimates for TransAct Technologies. The lowest sales estimate is $11.10 million and the highest is $11.85 million. TransAct Technologies recorded sales of $8.30 million in the same quarter last year, suggesting a positive year-over-year growth rate of 38.3%. The company is due to release its next earnings report on Monday, January 1.

According to Zacks, analysts expect TransAct Technologies to report annual revenue of $53.27 million for the current year, with estimates ranging from $51.58 million to $54.96 million. of dollars. For next year, analysts expect the company to record sales of $72.56 million, with estimates ranging from $67.87 million to $77.25 million. Zacks Investment Research sales averages are an average average based on a survey of research companies that track TransAct Technologies.

TransAct Technologies (NASDAQ:TACT – Get Rating) last reported results on Wednesday, March 9. The tech company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.04. TransAct Technologies had a negative net margin of 10.52% and a negative return on equity of 22.43%. The company posted revenue of $11.12 million in the quarter, compared to $10.24 million expected by analysts. During the same quarter of the previous year, the company posted EPS ($0.22).

Several equity analysts have recently commented on TACT shares. Craig Hallum lowered his price target on shares of TransAct Technologies from $20.00 to $12.00 in a Thursday, March 10 research note. StockNews.com took over coverage of TransAct Technologies stocks in a report on Monday. They issued a “maintaining” rating for the company. Roth Capital cut its price target on shares of TransAct Technologies from $21.00 to $14.00 in a Thursday, March 10 report. Barrington Research cut its price target on shares of TransAct Technologies from $20.00 to $15.00 in a Thursday, March 10 report. Finally, Zacks Investment Research upgraded shares of TransAct Technologies from a “sell” rating to a “hold” rating in a research report released Tuesday. Two equity research analysts gave the stock a hold rating and three gave the company a buy rating. According to MarketBeat, TransAct Technologies currently has a consensus rating of “Buy” and an average price target of $13.67.

TransAct Technologies stock traded down $0.73 during trading hours on Wednesday, hitting $8.47. The company had a trading volume of 228,584 shares, compared to an average volume of 36,083. The company has a market capitalization of $83.77 million, a PE ratio of -18.02 and a beta of 1.93. TransAct Technologies has a one-year low of $6.65 and a one-year high of $17.18. The company has a 50-day moving average of $8.35 and a 200-day moving average of $10.47.

In other news, major shareholder 325 Capital Llc acquired 7,622 shares of the company in a transaction on Thursday, January 27. The stock was purchased at an average cost of $8.66 per share, with a total value of $66,006.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC’s website. Insiders of the company own 11.99% of the shares of the company.

Hedge funds and other institutional investors have recently changed their stock holdings. Barclays PLC increased its stake in the shares of TransAct Technologies by 238.0% during the 3rd quarter. Barclays PLC now owns 2,552 shares in the technology company worth $35,000 after buying 1,797 additional shares during the period. Manatuck Hill Partners LLC purchased a new position in TransAct Technologies during Q3 worth approximately $209,000. Morgan Stanley increased its stake in TransAct Technologies by 6.6% in the second quarter. Morgan Stanley now owns 18,266 shares of the technology company valued at $251,000 after acquiring 1,134 additional shares during the period. Potomac Capital Management Inc. bought a new position in TransAct Technologies during Q4, valued at approximately $448,000. Finally, Geode Capital Management LLC increased its position in TransAct Technologies by 45.7% in the 3rd quarter. Geode Capital Management LLC now owns 64,676 shares of the technology company valued at $898,000 after buying an additional 20,274 shares last quarter. Hedge funds and other institutional investors own 68.41% of the company’s shares.

About TransAct Technologies (Get a rating)

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

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