Transcat (NASDAQ:TRNS) Trading Up 4.2%

Shares of Transcat, Inc. (NASDAQ:TRNS) were up 4.2% on Tuesday . The stock traded as high as $124.51 and last traded at $124.18. Approximately 14,207 shares were traded during trading, a decline of 65% from the average daily volume of 40,520 shares. The stock had previously closed at $119.19.

Analyst Ratings Changes

Several research analysts have recently weighed in on TRNS shares. Northland Capmk downgraded Transcat from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 22nd. HC Wainwright upped their target price on Transcat from $124.00 to $156.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. Oppenheimer upped their target price on Transcat from $125.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 22nd. Finally, Northland Securities downgraded Transcat from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 22nd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $142.67.

Transcat Trading Down 0.9 %

The company has a current ratio of 3.14, a quick ratio of 2.62 and a debt-to-equity ratio of 0.01. The company has a fifty day simple moving average of $121.93 and a 200-day simple moving average of $112.03. The company has a market capitalization of $1.12 billion, a PE ratio of 77.25 and a beta of 0.68.

Transcat (NASDAQ:TRNS) last issued its earnings results on Monday, May 20th. The scientific and technical instruments company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.25. The company had revenue of $70.91 million during the quarter, compared to analysts’ expectations of $68.76 million. Transcat had a return on equity of 9.50% and a net margin of 5.26%. Analysts predict that Transcat, Inc. will post 1.99 EPS for the current year.

Insider Buying and Selling at Transcat

In other news, CEO Lee D. Rudow sold 3,343 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $124.12, for a total transaction of $414,933.16. Following the completion of the transaction, the chief executive officer now directly owns 103,692 shares in the company, valued at approximately $12,870,251.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Lee D. Rudow sold 3,343 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $124.12, for a total transaction of $414,933.16. Following the completion of the transaction, the chief executive officer now directly owns 103,692 shares in the company, valued at approximately $12,870,251.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider James M. Jenkins sold 5,514 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $137.18, for a total value of $756,410.52. Following the transaction, the insider now owns 1,619 shares of the company’s stock, valued at $222,094.42. The disclosure for this sale can be found here. Insiders sold a total of 22,215 shares of company stock worth $2,969,084 in the last three months. 4.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Transcat

Hedge funds and other institutional investors have recently bought and sold shares of the company. Hamilton Wealth LLC purchased a new position in Transcat during the 1st quarter valued at about $212,000. Virtu Financial LLC acquired a new stake in Transcat in the 1st quarter valued at about $224,000. Price T Rowe Associates Inc. MD raised its position in Transcat by 13.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,347 shares of the scientific and technical instruments company’s stock valued at $262,000 after purchasing an additional 284 shares in the last quarter. Arizona State Retirement System raised its position in Transcat by 11.9% in the 4th quarter. Arizona State Retirement System now owns 2,434 shares of the scientific and technical instruments company’s stock valued at $266,000 after purchasing an additional 258 shares in the last quarter. Finally, Diversified Trust Co raised its position in Transcat by 4.3% in the 4th quarter. Diversified Trust Co now owns 2,435 shares of the scientific and technical instruments company’s stock valued at $266,000 after purchasing an additional 100 shares in the last quarter. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

About Transcat

Transcat, Inc provides calibration and laboratory instrument services in the United States, Canada, and internationally. It operates through two segments: Service and Distribution. The Service segment offers calibration, repair, inspection, analytical qualification, preventative maintenance, consulting, and other related services.