Transcat (NASDAQ:TRNS) Stock Moved Up to “Outperform” by Northland Securities

Transcat (NASDAQ:TRNS) was upgraded by equities researchers at Northland Securities from a “market perform” rating to an “outperform” rating in a note issued to investors on Wednesday, Marketbeat.com reports. The firm presently has a $95.00 target price on the scientific and technical instruments company’s stock. Northland Securities‘s target price would indicate a potential upside of 16.00% from the company’s previous close.

Several other brokerages have also issued reports on TRNS. Wall Street Zen raised Transcat from a “sell” rating to a “hold” rating in a research note on Sunday, June 28th. Weiss Ratings reissued a “sell (d+)” rating on shares of Transcat in a research note on Tuesday, August 25th. One equities 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $95.00.

Transcat Stock Performance

TRNS stock opened at $81.90 on Wednesday. The firm has a 50 day moving average of $86.50 and a two-hundred day moving average of $85.47. The company has a quick ratio of 2.11, a current ratio of 2.49 and a debt-to-equity ratio of 0.36. Transcat has a 12 month low of $50.23 and a 12 month high of $100.00. The company has a market capitalization of $769.04 million, a price-to-earnings ratio of 222.00 and a beta of 0.66.

Transcat (NASDAQ:TRNS) last released its earnings results 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 business 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, equities analysts anticipate that Transcat will post 1.74 EPS for the current fiscal year.

Insider Activity at Transcat

In other news, Director Christopher P. Gillette sold 504 shares of the business’s stock in a transaction 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 transaction, the director directly owned 200 shares of the company’s stock, valued at approximately $18,846. The trade was a 71.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Craig Cairns purchased 1,050 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were acquired at an average price of $93.97 per share, for a total transaction of $98,668.50. Following the purchase, the director directly owned 1,480 shares of the company’s stock, valued at approximately $139,075.60. The trade was a 244.19% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Transcat

Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake 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 buying an additional 589 shares during the period. Tidal Investments LLC purchased a new stake in shares of Transcat in the 2nd quarter valued at about $688,000. Integrated Wealth Concepts LLC acquired a new position in shares of Transcat in the 2nd quarter valued at $32,000. Squarepoint Ops LLC grew its holdings in shares of Transcat by 9.0% during the second quarter. Squarepoint Ops LLC now owns 8,794 shares of the scientific and technical instruments company’s stock worth $816,000 after buying an additional 728 shares during the last quarter. Finally, Arizona State Retirement System acquired a new position in shares of Transcat during the second quarter worth about $233,000. 98.34% of the stock is owned by institutional investors and hedge funds.

About Transcat

Transcat, Inc (NASDAQ: TRNS) provides calibration, compliance, and measurement services for organizations that rely on accurate test and measurement equipment. The company supports customers in regulated industries, including life sciences, aerospace and defense, energy, manufacturing, and other industrial markets.

Its service offerings include laboratory and onsite calibration, repair, validation, and asset-management services. Transcat calibrates a broad range of equipment used to measure temperature, pressure, electrical and electronic properties, radio frequency signals, dimensional characteristics, and other technical parameters.