Transcat (NASDAQ:TRNS) Sets New 12-Month High – Here’s What Happened

Transcat, Inc. (NASDAQ:TRNS)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $100.00 and last traded at $96.7220, with a volume of 41640 shares. The stock had previously closed at $97.76.

Analyst Ratings Changes

A number of brokerages have issued reports on TRNS. Weiss Ratings upgraded Transcat from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, May 28th. Wall Street Zen raised shares of Transcat from a “sell” rating to a “hold” rating in a research note on Sunday, June 28th. Northland Securities lowered shares of Transcat from an “outperform” rating to a “market perform” rating and set a $95.00 target price on the stock. in a report on Wednesday, August 5th. Finally, Zacks Research raised shares of Transcat from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $105.50.

Transcat Trading Down 1.7%

The business has a 50-day simple moving average of $89.90 and a two-hundred day simple moving average of $80.38. The stock has a market cap of $899.54 million, a price-to-earnings ratio of 259.74 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 released its quarterly earnings data 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. The firm 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 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 stock in a transaction that occurred on Thursday, August 6th. The stock was acquired at an average cost of $93.97 per share, for a total transaction of $98,668.50. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher P. Gillette sold 504 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $18,846. This trade represents a 71.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.80% of the stock is currently owned by insiders.

Institutional Trading of Transcat

Several hedge funds and other institutional investors have recently made changes to their positions in TRNS. Persistent Asset Partners Ltd bought a new stake in Transcat during the 2nd quarter worth approximately $52,000. Lazard Asset Management LLC bought a new position in shares of Transcat during the second quarter valued at $54,000. Tower Research Capital LLC TRC raised its stake in shares of Transcat by 245.5% during 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 acquiring an additional 798 shares during the last quarter. CM Wealth Advisors LLC acquired a new position in shares of Transcat during the second quarter worth $339,000. Finally, Central Pacific Bank Trust Division lifted its holdings in shares of Transcat by 45.0% during the second quarter. Central Pacific Bank Trust Division now owns 3,817 shares of the scientific and technical instruments company’s stock worth $354,000 after purchasing an additional 1,184 shares during the period. 98.34% of the stock is currently owned by 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.