Insider Buying: Transcat (NASDAQ:TRNS) Director Purchases $98,668.50 in Stock

Transcat, Inc. (NASDAQ:TRNS) Director Craig Cairns acquired 1,050 shares of the firm’s stock in a transaction on Thursday, August 6th. The shares were bought at an average cost of $93.97 per share, with a total value of $98,668.50. Following the completion of the acquisition, the director directly owned 1,480 shares in the company, valued at approximately $139,075.60. This represents a 244.19% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Transcat Stock Performance

Shares of Transcat stock opened at $97.76 on Thursday. Transcat, Inc. has a 52 week low of $50.23 and a 52 week high of $98.36. 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 business has a 50 day moving average price of $89.90 and a 200-day moving average price of $80.38. The company has a market cap of $915.03 million, a PE ratio of 264.22 and a beta of 0.68.

Transcat (NASDAQ:TRNS) last announced its earnings results on Tuesday, August 4th. The scientific and technical instruments company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.13. Transcat had a return on equity of 5.56% and a net margin of 0.99%.The company had revenue of $92.95 million for the quarter, compared to analysts’ expectations of $86.55 million. Equities analysts anticipate that Transcat, Inc. will post 1.74 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Persistent Asset Partners Ltd purchased a new stake in shares of Transcat during the 2nd quarter valued at $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 grew its position in 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 valued at $97,000 after buying an additional 798 shares during the period. Marshall Wace LLP bought a new position in Transcat during the fourth quarter valued at about $236,000. Finally, Balyasny Asset Management L.P. purchased a new stake in Transcat during the fourth quarter worth about $247,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Analysts Set New Price Targets

TRNS has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Transcat from a “sell” rating to a “hold” rating in a research note on Sunday, June 28th. Zacks Research upgraded shares of Transcat from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. Weiss Ratings raised shares of Transcat from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, May 28th. Finally, Northland Securities lowered shares of Transcat from an “outperform” rating to a “market perform” rating and set a $95.00 price objective for the company. in a research note on Wednesday, August 5th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $105.50.

About Transcat

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.