Transcat (NASDAQ:TRNS) Upgraded at Northland Securities

Transcat (NASDAQ:TRNS) was upgraded by analysts at Northland Securities from a “market perform” rating to an “outperform” rating in a note issued to investors on Wednesday, Briefing.com reports. The brokerage currently has a $95.00 price target on the scientific and technical instruments company’s stock. Northland Securities’ price target indicates a potential upside of 16.26% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Weiss Ratings reiterated 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 given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Transcat currently has an average rating of “Hold” and an average target price of $95.00.

Transcat Stock Performance

Shares of TRNS opened at $81.71 on Wednesday. The company has a quick ratio of 2.11, a current ratio of 2.49 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average price is $87.22 and its 200-day moving average price is $85.31. Transcat has a 52 week low of $50.23 and a 52 week high of $100.00. The stock has a market cap of $767.26 million, a P/E ratio of 220.84 and a beta of 0.66.

Transcat (NASDAQ:TRNS) last posted its earnings results 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. The company had revenue of $92.95 million for 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%. Equities research analysts anticipate that Transcat will post 1.74 earnings per share for the current fiscal year.

Insider Buying and Selling at Transcat

In other Transcat news, Director Christopher P. Gillette sold 504 shares of Transcat stock in a transaction 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 filing with the SEC, which is available at this link. Also, Director Craig Cairns bought 1,050 shares of the firm’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 completion of the transaction, the director directly owned 1,480 shares in the company, valued at approximately $139,075.60. This represents a 244.19% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Transcat

Several institutional investors have recently made changes to their positions in TRNS. GAMMA Investing LLC grew its stake in shares of Transcat by 133.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,030 shares of the scientific and technical instruments company’s stock worth $91,000 after purchasing an additional 589 shares during the period. Tidal Investments LLC acquired a new stake in Transcat in the 2nd quarter worth about $688,000. Integrated Wealth Concepts LLC purchased a new stake in Transcat during the 2nd quarter worth approximately $32,000. Squarepoint Ops LLC lifted its position in shares of Transcat by 9.0% in the second quarter. Squarepoint Ops LLC now owns 8,794 shares of the scientific and technical instruments company’s stock valued at $816,000 after acquiring an additional 728 shares in the last quarter. Finally, Arizona State Retirement System purchased a new stake in shares of Transcat during the second quarter worth approximately $233,000. Institutional investors own 98.34% of the company’s stock.

About Transcat

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.