Transcat (NASDAQ:TRNS) Shares Gap Up Following Analyst Upgrade

Transcat, Inc. (NASDAQ:TRNS)’s stock price gapped up prior to trading on Wednesday after Northland Securities upgraded the stock from a market perform rating to an outperform rating. The stock had previously closed at $81.71, but opened at $86.39. Northland Securities now has a $95.00 price target on the stock. Transcat shares last traded at $85.4610, with a volume of 29,364 shares changing hands.

Other analysts have also issued reports about the stock. Wall Street Zen raised shares of Transcat from a “sell” rating to a “hold” rating in a research report on Sunday, June 28th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Transcat in a research note on Tuesday, August 25th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $95.00.

Insider Activity at Transcat

In other news, Director Christopher Gillette sold 504 shares of Transcat 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 completion of the transaction, the director directly owned 200 shares in the company, valued at approximately $18,846. The trade was a 71.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Craig D. Cairns bought 1,050 shares of Transcat stock in a transaction dated Thursday, August 6th. The shares were acquired at an average price of $93.97 per share, with a total value of $98,668.50. Following the completion of the purchase, the director directly owned 1,480 shares in the company, valued at $139,075.60. This trade represents a 244.19% increase in their position. The disclosure for this purchase is available in the SEC filing. 1.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Transcat

Several hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its position in Transcat by 133.6% during the third quarter. GAMMA Investing LLC now owns 1,030 shares of the scientific and technical instruments company’s stock worth $91,000 after purchasing an additional 589 shares during the period. Tidal Investments LLC acquired a new position in shares of Transcat in the second quarter valued at $688,000. Integrated Wealth Concepts LLC acquired a new position in shares of Transcat in the second quarter valued at $32,000. Squarepoint Ops LLC increased its holdings in shares of Transcat by 9.0% in the second quarter. Squarepoint Ops LLC now owns 8,794 shares of the scientific and technical instruments company’s stock valued at $816,000 after purchasing an additional 728 shares during the last quarter. Finally, Arizona State Retirement System bought a new position in shares of Transcat in the second quarter valued at about $233,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

Transcat Price Performance

The company has a market capitalization of $797.21 million, a P/E ratio of 229.46 and a beta of 0.66. The company’s 50-day moving average price is $87.22 and its two-hundred day moving average price is $85.31. 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 analysts’ consensus estimates of $0.38 by $0.13. The company had revenue of $92.95 million during the quarter, compared to analysts’ expectations of $86.55 million. Transcat had a net margin of 0.99% and a return on equity of 5.56%. As a group, sell-side analysts expect that Transcat, Inc. will post 1.74 EPS for the current year.

Transcat Company Profile

Transcat, Inc provides calibration, testing, repair, and compliance services for test and measurement equipment. Its offerings help organizations maintain the accuracy, reliability, and regulatory compliance of instruments used in manufacturing, laboratory, pharmaceutical, biotechnology, medical device, aerospace, defense, and other highly regulated environments.

The company provides both onsite and laboratory-based calibration services, along with equipment repair, validation, asset management, and related technical support.