Craig Cairns Buys 1,050 Shares of Transcat (NASDAQ:TRNS) Stock

Transcat, Inc. (NASDAQ:TRNS) Director Craig Cairns purchased 1,050 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The stock was purchased at an average price of $93.97 per share, for a total transaction of $98,668.50. Following the acquisition, the director owned 1,480 shares of the company’s stock, valued at $139,075.60. The trade was a 244.19% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Transcat Stock Performance

Shares of NASDAQ:TRNS opened at $95.39 on Wednesday. The stock has a market capitalization of $892.85 million, a P/E ratio of 257.81 and a beta of 0.68. Transcat, Inc. has a 1-year low of $50.23 and a 1-year high of $98.36. The company has a current ratio of 2.49, a quick ratio of 2.11 and a debt-to-equity ratio of 0.36. The business has a 50-day moving average price of $89.75 and a two-hundred day moving average price of $80.14.

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

Wall Street Analysts Forecast Growth

TRNS has been the topic of a number of recent research reports. Wall Street Zen raised 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 research report on Friday, May 15th. Weiss Ratings raised Transcat from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, May 28th. Finally, 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 research report on Wednesday, August 5th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $105.50.

Institutional Trading of Transcat

A number of hedge funds have recently modified their holdings of TRNS. Persistent Asset Partners Ltd bought a new position in Transcat during the 2nd quarter worth approximately $52,000. Lazard Asset Management LLC bought a new stake in Transcat in the second quarter valued at approximately $54,000. Tower Research Capital LLC TRC increased its stake in Transcat by 245.5% in 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 purchasing an additional 798 shares in the last quarter. Marshall Wace LLP acquired a new stake in Transcat in the fourth quarter worth $236,000. Finally, Balyasny Asset Management L.P. acquired a new stake in Transcat in the fourth quarter worth $247,000. 98.34% of the stock is currently owned by institutional investors and hedge funds.

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.