Christopher Gillette Sells 504 Shares of Transcat (NASDAQ:TRNS) Stock

Transcat, Inc. (NASDAQ:TRNS) 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 transaction, the director directly owned 200 shares in the company, valued at $18,846. This trade represents a 71.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Transcat Stock Down 3.0%

Shares of TRNS opened at $94.86 on Friday. Transcat, Inc. has a 52-week low of $50.23 and a 52-week high of $100.00. The company has a market capitalization of $887.89 million, a PE ratio of 256.38 and a beta of 0.68. The stock has a fifty day simple moving average of $89.93 and a two-hundred day simple moving average of $80.61. The company has a quick ratio of 2.11, a current ratio of 2.49 and a debt-to-equity ratio of 0.36.

Transcat (NASDAQ:TRNS) last announced its quarterly 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 for the quarter, compared to analysts’ expectations of $86.55 million. As a group, equities analysts forecast that Transcat, Inc. will post 1.74 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TRNS. Wall Street Zen upgraded shares of Transcat from a “sell” rating to a “hold” rating in a report on Sunday, June 28th. Weiss Ratings upgraded shares of Transcat from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, May 28th. Northland Securities lowered shares of 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. Finally, Zacks Research upgraded Transcat from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. 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 a consensus target price of $105.50.

Institutional Trading of Transcat

Several institutional investors and hedge funds have recently bought and sold shares of TRNS. Teachers Retirement System of The State of Kentucky acquired a new position in Transcat during the fourth quarter worth $1,974,000. Needham Investment Management LLC boosted its position in shares of Transcat by 33.0% during the fourth quarter. Needham Investment Management LLC now owns 124,370 shares of the scientific and technical instruments company’s stock worth $7,056,000 after buying an additional 30,870 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Transcat by 3.7% in the first quarter. Dimensional Fund Advisors LP now owns 262,033 shares of the scientific and technical instruments company’s stock valued at $19,244,000 after buying an additional 9,266 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Transcat by 6,267.8% in the first quarter. Fifth Third Bancorp now owns 47,886 shares of the scientific and technical instruments company’s stock valued at $3,517,000 after buying an additional 47,134 shares in the last quarter. Finally, Royce & Associates LP raised its holdings in shares of Transcat by 15.3% in the 4th quarter. Royce & Associates LP now owns 390,546 shares of the scientific and technical instruments company’s stock valued at $22,156,000 after buying an additional 51,774 shares during the period. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Transcat Company Profile

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.