Key Points
- Director Craig Cairns purchased 1,050 Transcat shares at an average price of $93.97, investing $98,668.50 and increasing his stake by 244.19% to 1,480 shares.
- Transcat exceeded quarterly expectations, reporting earnings per share of $0.51 versus the $0.38 consensus and revenue of $92.95 million against estimates of $86.55 million.
- Analysts maintain a consensus “Hold” rating with an average price target of $105.50, while institutional investors own 98.34% of the company’s outstanding shares.
Transcat, Inc. (NASDAQ:TRNS - Get Free Report) Director Craig Cairns bought 1,050 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were purchased at an average price of $93.97 per share, for a total transaction of $98,668.50. Following the completion of the acquisition, the director owned 1,480 shares of the company's stock, valued at $139,075.60. The trade was a 244.19% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Transcat Stock Performance
NASDAQ TRNS opened at $90.85 on Tuesday. The company has a current ratio of 2.49, a quick ratio of 2.11 and a debt-to-equity ratio of 0.36. The firm's fifty day moving average price is $89.65 and its two-hundred day moving average price is $79.92. Transcat, Inc. has a 1 year low of $50.23 and a 1 year high of $96.60. The firm has a market capitalization of $850.36 million, a P/E ratio of 245.54 and a beta of 0.68.
Transcat (NASDAQ:TRNS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The scientific and technical instruments company reported $0.51 EPS for the quarter, beating analysts' consensus estimates of $0.38 by $0.13. The company had revenue of $92.95 million during the quarter, compared to the consensus estimate of $86.55 million. Transcat had a net margin of 0.99% and a return on equity of 5.56%. As a group, research analysts anticipate that Transcat, Inc. will post 1.74 EPS for the current year.
Analyst Ratings Changes
A number of brokerages have weighed in on TRNS. Northland Securities downgraded Transcat from an "outperform" rating to a "market perform" rating and set a $95.00 price target on the stock. in a research report on Wednesday, August 5th. Wall Street Zen raised Transcat from a "sell" rating to a "hold" rating in a research report on Sunday, June 28th. Zacks Research upgraded Transcat from a "strong sell" rating to a "hold" rating in a research note on Friday, May 15th. Finally, Weiss Ratings raised Transcat from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $105.50.
Get Our Latest Analysis on Transcat
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of TRNS. Persistent Asset Partners Ltd bought a new stake in shares of Transcat during the second quarter worth approximately $52,000. Lazard Asset Management LLC bought a new position in shares of Transcat during the second quarter worth approximately $54,000. Tower Research Capital LLC TRC increased its stake in shares of Transcat by 245.5% during the second quarter. Tower Research Capital LLC TRC now owns 1,123 shares of the scientific and technical instruments company's stock worth $97,000 after purchasing an additional 798 shares during the period. CM Wealth Advisors LLC acquired a new stake in Transcat during the 2nd quarter worth approximately $339,000. Finally, Central Pacific Bank Trust Division lifted its holdings in Transcat by 45.0% during the 2nd quarter. Central Pacific Bank Trust Division now owns 3,817 shares of the scientific and technical instruments company's stock worth $354,000 after purchasing an additional 1,184 shares during the last quarter. 98.34% of the stock is owned by institutional investors.
Transcat Company Profile
(
Get Free Report)
Transcat, Inc (NASDAQ: TRNS) is a leading provider of calibration, laboratory, and metrology services in North America. Founded in 1964 and headquartered in Ronkonkoma, New York, the company specializes in ensuring the accuracy and compliance of measurement instruments across a wide range of industries. Transcat operates a network of ISO/IEC 17025–accredited laboratories and offers on-site field calibration, instrument repair, and preventive maintenance services.
In addition to its calibration services, Transcat distributes precision instrumentation and related software solutions from top manufacturers.
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