Transcat (NASDAQ:TRNS) Upgraded at Northland Securities

Transcat (NASDAQ:TRNS) was upgraded by equities research analysts at Northland Securities from a “market perform” rating to an “outperform” rating in a note issued to investors on Wednesday, Marketbeat reports. The brokerage presently has a $95.00 target price 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 previous close.

Several other analysts also recently weighed in on TRNS. Weiss Ratings restated a “sell (d+)” rating on shares of Transcat in a research note on Tuesday, August 25th. Wall Street Zen raised shares of Transcat from a “sell” rating to a “hold” rating in a research note on Sunday, June 28th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $95.00.

Transcat Trading Up 5.6%

Shares of TRNS stock traded up $4.60 during trading hours on Wednesday, reaching $86.31. 227,727 shares of the stock were exchanged, compared to its average volume of 143,693. Transcat has a 12-month low of $50.23 and a 12-month high of $100.00. 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 50-day moving average price is $87.22 and its 200-day moving average price is $85.31. The firm has a market capitalization of $810.45 million, a price-to-earnings ratio of 233.27 and a beta of 0.66.

Transcat (NASDAQ:TRNS) last posted its quarterly earnings data on Tuesday, August 4th. The scientific and technical instruments company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.13. The company had revenue of $92.95 million for the quarter, compared to analyst estimates 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 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Christopher P. Gillette sold 504 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were 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 $18,846. This trade represents a 71.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Craig Cairns bought 1,050 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were bought at an average cost of $93.97 per share, for a total transaction of $98,668.50. Following the transaction, the director owned 1,480 shares in the company, valued at $139,075.60. The trade was a 244.19% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Transcat

Large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP purchased a new stake in Transcat in the second quarter valued at $29,409,000. Summit Creek Advisors LLC purchased a new position in shares of Transcat during the 2nd quarter valued at about $4,357,000. Bank of New York Mellon Corp purchased a new position in shares of Transcat during the 2nd quarter valued at about $2,742,000. Bank of America Corp DE purchased a new position in shares of Transcat during the 2nd quarter valued at about $2,386,000. Finally, Punch & Associates Investment Management Inc. acquired a new position in shares of Transcat in the 2nd quarter valued at about $7,430,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

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.