Key Points
- Transcat director Christopher Gillette sold 504 shares at an average price of $94.23, generating $47,491.92 and reducing his direct ownership by 71.59% to 200 shares.
- Transcat’s latest quarterly results exceeded expectations, with EPS of $0.51 versus the $0.38 consensus and revenue of $92.95 million compared with estimates of $86.55 million.
- The stock opened at $97.76 and analysts have a consensus “Hold” rating with a $105.50 price target; institutional investors own 98.34% of the company.
Transcat, Inc. (NASDAQ:TRNS - Get Free Report) Director Christopher Gillette sold 504 shares of the business's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $94.23, for a total value of $47,491.92. Following the completion of the transaction, the director directly owned 200 shares of the company's stock, valued at approximately $18,846. This trade represents a 71.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Transcat Stock Up 2.5%
TRNS opened at $97.76 on Thursday. The company has a quick ratio of 2.11, a current ratio of 2.49 and a debt-to-equity ratio of 0.36. The firm has a market cap of $915.03 million, a P/E ratio of 264.22 and a beta of 0.68. Transcat, Inc. has a 52 week low of $50.23 and a 52 week high of $98.36. The business's fifty day simple moving average is $89.90 and its 200 day simple moving average is $80.38.
Transcat (NASDAQ:TRNS - Get Free Report) last announced its earnings results on Tuesday, August 4th. The scientific and technical instruments company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.13. Transcat had a net margin of 0.99% and a return on equity of 5.56%. The firm had revenue of $92.95 million during the quarter, compared to the consensus estimate of $86.55 million. As a group, equities research analysts anticipate that Transcat, Inc. will post 1.74 EPS for the current fiscal year.
Institutional Investors Weigh In On Transcat
A number of institutional investors have recently added to or reduced their stakes in the company. Persistent Asset Partners Ltd purchased a new stake in Transcat during the second quarter valued at about $52,000. Lazard Asset Management LLC purchased a new position in shares of Transcat in the 2nd quarter worth about $54,000. Tower Research Capital LLC TRC lifted its stake in shares of Transcat by 245.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,123 shares of the scientific and technical instruments company's stock valued at $97,000 after purchasing an additional 798 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Transcat during the 4th quarter worth about $236,000. Finally, Balyasny Asset Management L.P. acquired a new stake in Transcat during the 4th quarter worth approximately $247,000. Hedge funds and other institutional investors own 98.34% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have commented on TRNS. Zacks Research upgraded Transcat from a "strong sell" rating to a "hold" rating in a report on Friday, May 15th. Northland Securities lowered shares of Transcat from an "outperform" rating to a "market perform" rating and set a $95.00 price objective on the stock. in a report on Wednesday, August 5th. Wall Street Zen raised shares of Transcat from a "sell" rating to a "hold" rating in a research report on Sunday, June 28th. Finally, Weiss Ratings raised shares of Transcat from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, May 28th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $105.50.
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About Transcat
(
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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