Transcat (NASDAQ:TRNS) Stock Price Up 5.9% – Should You Buy?

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TRNS shares. Zacks Research raised shares of Transcat from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Wall Street Zen upgraded shares of Transcat from a “sell” rating to a “hold” rating in a research note on Sunday, June 28th. Northland Securities cut shares of Transcat from an “outperform” rating to a “market perform” rating and set a $95.00 target price for the company. in a report on Wednesday, August 5th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Transcat in a report on Tuesday, August 25th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Transcat currently has a consensus rating of “Reduce” and a consensus target price of $95.00.

Transcat Stock Up 3.2%

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

Transcat (NASDAQ:TRNS) last posted its earnings results on Tuesday, August 4th. The scientific and technical instruments company reported $0.51 earnings per share (EPS) for the quarter, topping 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 business had revenue of $92.95 million for the quarter, compared to analyst estimates of $86.55 million. On average, analysts predict that Transcat, Inc. will post 1.74 earnings per share for the current year.

Insider Buying and Selling

In other Transcat news, Director Christopher P. Gillette sold 504 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $94.23, for a total transaction of $47,491.92. Following the transaction, the director owned 200 shares in the company, valued at approximately $18,846. This represents a 71.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Craig Cairns acquired 1,050 shares of the business’s stock in a transaction dated Thursday, August 6th. The stock was acquired 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 of the company’s stock, valued at approximately $139,075.60. This represents a 244.19% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Transcat

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Deutsche Bank AG increased its holdings in Transcat by 4.6% in the fourth quarter. Deutsche Bank AG now owns 7,053 shares of the scientific and technical instruments company’s stock valued at $400,000 after buying an additional 312 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Transcat by 6.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,462 shares of the scientific and technical instruments company’s stock valued at $407,000 after acquiring an additional 325 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Transcat during the second quarter worth about $32,000. Swiss National Bank boosted its position in shares of Transcat by 2.2% in the 4th quarter. Swiss National Bank now owns 18,315 shares of the scientific and technical instruments company’s stock valued at $1,039,000 after purchasing an additional 400 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in Transcat by 8.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,265 shares of the scientific and technical instruments company’s stock worth $299,000 after buying an additional 432 shares during the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

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.