Transcat (NASDAQ:TRNS) Shares Up 5.9% – What’s Next?

Transcat, Inc. (NASDAQ:TRNS) rose 5.9% during trading on Friday . The stock traded as high as $85.01 and last traded at $87.2040. Approximately 15,071 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 145,815 shares. The stock had previously closed at $82.36.

Wall Street Analyst Weigh In

Several brokerages have commented on TRNS. Weiss Ratings reiterated a “sell (d+)” rating on shares of Transcat in a research note on Tuesday, August 25th. Wall Street Zen raised Transcat from a “sell” rating to a “hold” rating in a research note on Sunday, June 28th. Northland Securities lowered Transcat from an “outperform” rating to a “market perform” rating and set a $95.00 price target on the stock. in a report on Wednesday, August 5th. Finally, Zacks Research upgraded Transcat from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Transcat presently has an average rating of “Reduce” and an average target price of $95.00.

Transcat Stock Up 3.2%

The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.11 and a current ratio of 2.49. The company has a fifty day simple moving average of $88.73 and a two-hundred day simple moving average of $83.02. The firm has a market capitalization of $797.94 million, a PE ratio of 229.95 and a beta of 0.68.

Transcat (NASDAQ:TRNS) last announced its quarterly earnings results on Tuesday, August 4th. The scientific and technical instruments company reported $0.51 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 firm had revenue of $92.95 million for the quarter, compared to analyst estimates of $86.55 million. Analysts forecast that Transcat, Inc. will post 1.74 EPS for the current fiscal year.

Insider Activity at Transcat

In related news, Director Craig D. Cairns acquired 1,050 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The shares were bought at an average price of $93.97 per share, with a total value of $98,668.50. Following the completion of the transaction, the director directly owned 1,480 shares in the company, valued at $139,075.60. This trade represents a 244.19% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christopher Gillette sold 504 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $94.23, for a total transaction of $47,491.92. Following the completion of the transaction, the director owned 200 shares of the company’s stock, valued at $18,846. This represents a 71.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TRNS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Transcat by 6.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,462 shares of the scientific and technical instruments company’s stock worth $407,000 after purchasing an additional 325 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Transcat during the first quarter valued at $1,674,000. JPMorgan Chase & Co. increased its position in shares of Transcat by 88.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 8,555 shares of the scientific and technical instruments company’s stock valued at $735,000 after acquiring an additional 4,012 shares during the period. Legal & General Group Plc raised its stake in Transcat by 6.1% in the 2nd quarter. Legal & General Group Plc now owns 9,551 shares of the scientific and technical instruments company’s stock worth $821,000 after acquiring an additional 548 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in Transcat by 23.3% during the 2nd quarter. Rhumbline Advisers now owns 16,171 shares of the scientific and technical instruments company’s stock worth $1,390,000 after acquiring an additional 3,061 shares during the period. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

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.