Transcat (NASDAQ:TRNS) Hits New 12-Month High – Here’s Why

Transcat, Inc. (NASDAQ:TRNS) hit a new 52-week high 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 Upgrades and Downgrades

A number of brokerages recently weighed in on TRNS. Northland Securities downgraded shares of Transcat from an “outperform” rating to a “market perform” rating and set a $95.00 target price on the stock. in a research note on Wednesday, August 5th. 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 raised shares of Transcat from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. Finally, Weiss Ratings upgraded shares of Transcat from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, May 28th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Transcat currently has a consensus rating of “Hold” and an average target price of $105.50.

Transcat Stock Performance

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 company’s fifty day moving average is $90.05 and its 200 day moving average is $80.70. The company has a market cap of $877.03 million, a P/E ratio of 253.24 and a beta of 0.68.

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

Insider Activity at Transcat

In related news, Director Christopher P. Gillette sold 504 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $94.23, for a total transaction of $47,491.92. Following the sale, the director owned 200 shares of the company’s stock, valued at $18,846. The trade was a 71.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Craig D. Cairns purchased 1,050 shares of the company’s stock in a transaction dated Thursday, August 6th. The stock was bought at an average cost of $93.97 per share, for a total transaction of $98,668.50. Following the completion of the transaction, the director owned 1,480 shares in the company, valued at approximately $139,075.60. This represents a 244.19% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Transcat

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jupiter Topco LLC bought a new stake in shares of Transcat in the 2nd quarter worth $472,000. Hsbc Holdings PLC bought a new position in shares of Transcat during the second quarter valued at $289,000. Canada Pension Plan Investment Board bought a new position in shares of Transcat during the second quarter valued at $204,000. Osterweis Capital Management Inc. purchased a new stake in shares of Transcat during the second quarter valued at $12,320,000. Finally, Legal & General Group Plc purchased a new stake in shares of Transcat during the second quarter valued at $575,000. 98.34% of the stock is owned by institutional investors.

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.