Transcat (NASDAQ:TRNS) Stock Rating Raised to Outperform at Northland Securities

Transcat (NASDAQ:TRNS) was upgraded by analysts at Northland Securities from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The brokerage currently has a $95.00 price target on the scientific and technical instruments company’s stock. Northland Securities‘s price objective would suggest a potential upside of 10.07% from the company’s current price.

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

Transcat Price Performance

NASDAQ TRNS traded up $4.60 during trading on Wednesday, reaching $86.31. The company’s stock had a trading volume of 227,727 shares, compared to its average volume of 143,693. The stock has a market capitalization of $810.45 million, a PE ratio of 233.27 and a beta of 0.66. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.49 and a quick ratio of 2.11. The firm has a fifty day moving average of $87.22 and a 200 day moving average of $85.31. Transcat has a one year low of $50.23 and a one year high of $100.00.

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 analysts’ consensus estimates of $0.38 by $0.13. Transcat had a return on equity of 5.56% and a net margin of 0.99%. The company had revenue of $92.95 million for the quarter, compared to analysts’ expectations of $86.55 million. Analysts expect that Transcat will post 1.74 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Christopher Gillette sold 504 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $94.23, for a total value of $47,491.92. Following the completion of the sale, the director directly owned 200 shares of the company’s stock, valued at $18,846. This trade represents a 71.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Craig D. Cairns purchased 1,050 shares of Transcat stock in a transaction dated Thursday, August 6th. The stock was acquired at an average price of $93.97 per share, for a total transaction of $98,668.50. Following the completion of the acquisition, the director owned 1,480 shares of the company’s stock, valued at approximately $139,075.60. This trade represents a 244.19% increase in their position. The SEC filing for this purchase provides additional information. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Transcat

Several hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new position in Transcat during the 2nd quarter worth $67,445,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Transcat in the 2nd quarter worth $37,106,000. Wellington Management Group LLP acquired a new stake in shares of Transcat in the 2nd quarter worth $29,409,000. Dimensional Fund Advisors LP lifted its position in Transcat by 3.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 262,033 shares of the scientific and technical instruments company’s stock worth $19,244,000 after acquiring an additional 9,266 shares during the period. Finally, Bamco Inc. NY acquired a new stake in Transcat during the 2nd quarter worth about $17,649,000. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

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.