Transcat (NASDAQ:TRNS) Cut to Sell at StockNews.com

StockNews.com lowered shares of Transcat (NASDAQ:TRNS) from a hold rating to a sell rating in a research note released on Wednesday morning.

Several other equities analysts have also recently weighed in on the stock. Oppenheimer cut shares of Transcat from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. Craig Hallum increased their target price on shares of Transcat from $113.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. HC Wainwright dropped their price target on shares of Transcat from $126.00 to $106.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Finally, Northland Securities reissued a “market perform” rating and set a $85.00 price target (down from $110.00) on shares of Transcat in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $111.50.

Transcat Trading Down 0.6 %

NASDAQ TRNS opened at $78.85 on Wednesday. Transcat has a 12 month low of $73.37 and a 12 month high of $147.12. The stock’s fifty day moving average price is $101.40 and its 200-day moving average price is $112.73. The stock has a market cap of $725.42 million, a P/E ratio of 42.62 and a beta of 0.68.

Transcat (NASDAQ:TRNS) last released its quarterly earnings data on Monday, January 27th. The scientific and technical instruments company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.07. Transcat had a net margin of 6.22% and a return on equity of 7.43%. During the same quarter last year, the company posted $0.56 earnings per share. As a group, analysts forecast that Transcat will post 2.3 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Craig D. Cairns bought 1,200 shares of the stock in a transaction dated Friday, January 31st. The shares were acquired at an average price of $77.02 per share, with a total value of $92,424.00. Following the completion of the acquisition, the director now directly owns 1,910 shares in the company, valued at approximately $147,108.20. The trade was a 169.01 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.30% of the company’s stock.

Institutional Trading of Transcat

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. nVerses Capital LLC purchased a new position in Transcat in the 3rd quarter worth approximately $60,000. Morgan Dempsey Capital Management LLC bought a new stake in shares of Transcat during the 4th quarter worth about $143,000. US Bancorp DE lifted its holdings in shares of Transcat by 15.6% in the third quarter. US Bancorp DE now owns 1,547 shares of the scientific and technical instruments company’s stock valued at $187,000 after buying an additional 209 shares during the period. Captrust Financial Advisors acquired a new position in Transcat in the third quarter worth approximately $201,000. Finally, SG Americas Securities LLC purchased a new position in Transcat during the 4th quarter worth approximately $182,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

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.