Transcat (NASDAQ:TRNS) Upgraded at Northland Securities

Northland Securities upgraded shares of Transcat (NASDAQ:TRNS) from a market perform rating to an outperform rating in a report released on Wednesday morning, Marketbeat.com reports. Northland Securities currently has $95.00 target price on the scientific and technical instruments company’s stock.

A number of other research firms have also weighed in on TRNS. Weiss Ratings reiterated a “sell (d+)” rating on shares of Transcat in a research report 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. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Transcat has an average rating of “Hold” and an average target price of $95.00.

Transcat Trading Up 0.1%

Shares of Transcat stock opened at $81.92 on Wednesday. The company has a market capitalization of $769.23 million, a P/E ratio of 221.41 and a beta of 0.66. 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 moving average of $86.50 and a 200 day moving average of $85.40. Transcat has a fifty-two week low of $50.23 and a fifty-two week high of $100.00.

Transcat (NASDAQ:TRNS) last issued its quarterly earnings results on Tuesday, August 4th. The scientific and technical instruments company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.13. Transcat had a return on equity of 5.56% and a net margin of 0.99%. The business had revenue of $92.95 million during the quarter, compared to analyst estimates of $86.55 million. On average, sell-side analysts anticipate that Transcat will post 1.74 earnings per share for the current fiscal year.

Insider Buying and Selling at Transcat

In other Transcat news, Director Christopher Gillette sold 504 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $94.23, for a total value of $47,491.92. Following the sale, the director owned 200 shares in the company, valued at $18,846. The trade was a 71.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Craig D. Cairns acquired 1,050 shares of the company’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 acquisition, the director directly owned 1,480 shares in the company, valued at approximately $139,075.60. The trade was a 244.19% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Transcat

Several large investors have recently made changes to their positions in TRNS. BlackRock Inc. bought a new position in Transcat during the second quarter valued at approximately $67,445,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Transcat in the 2nd quarter worth approximately $37,106,000. Wellington Management Group LLP bought a new stake in Transcat in the 2nd quarter worth approximately $29,409,000. Dimensional Fund Advisors LP increased its stake in Transcat by 3.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 262,033 shares of the scientific and technical instruments company’s stock worth $19,244,000 after acquiring an additional 9,266 shares during the last quarter. Finally, Bamco Inc. NY purchased a new stake in shares of Transcat during the 2nd quarter worth approximately $17,649,000. 98.34% of the stock is owned by institutional investors.

About Transcat

Transcat, Inc (NASDAQ: TRNS) provides calibration, compliance, and measurement services for organizations that rely on accurate test and measurement equipment. The company supports customers in regulated industries, including life sciences, aerospace and defense, energy, manufacturing, and other industrial markets.

Its service offerings include laboratory and onsite calibration, repair, validation, and asset-management services. Transcat calibrates a broad range of equipment used to measure temperature, pressure, electrical and electronic properties, radio frequency signals, dimensional characteristics, and other technical parameters.