Shares of Transcat, Inc. (NASDAQ:TRNS – Get Free Report) have received a consensus rating of “Buy” from the five analysts that are currently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy rating. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $106.40.
Several research analysts have recently issued reports on the stock. StockNews.com assumed coverage on shares of Transcat in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Oppenheimer began coverage on shares of Transcat in a research note on Tuesday. They set an “outperform” rating and a $110.00 price objective on the stock. HC Wainwright lifted their price objective on shares of Transcat from $102.00 to $106.00 and gave the stock a “buy” rating in a research note on Monday, August 7th. Finally, Craig Hallum lifted their price objective on shares of Transcat from $103.00 to $112.00 in a research note on Tuesday, September 5th.
Read Our Latest Research Report on TRNS
Transcat Trading Down 2.3 %
Transcat (NASDAQ:TRNS – Get Free Report) last issued its earnings results on Monday, July 31st. The scientific and technical instruments company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.11. The company had revenue of $60.60 million for the quarter, compared to analyst estimates of $59.63 million. Transcat had a net margin of 4.47% and a return on equity of 10.62%. As a group, equities analysts anticipate that Transcat will post 1.66 earnings per share for the current fiscal year.
Insider Activity
In other news, Director Charles P. Hadeed sold 5,813 shares of Transcat stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $101.58, for a total value of $590,484.54. Following the sale, the director now directly owns 22,701 shares in the company, valued at $2,305,967.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Scott Deverell sold 1,000 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $101.66, for a total transaction of $101,660.00. Following the transaction, the insider now directly owns 1,685 shares in the company, valued at $171,297.10. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Charles P. Hadeed sold 5,813 shares of the business’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $101.58, for a total transaction of $590,484.54. Following the transaction, the director now owns 22,701 shares in the company, valued at $2,305,967.58. The disclosure for this sale can be found here. 4.20% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Transcat
Several institutional investors and hedge funds have recently modified their holdings of TRNS. American International Group Inc. boosted its position in shares of Transcat by 3.4% in the second quarter. American International Group Inc. now owns 3,555 shares of the scientific and technical instruments company’s stock valued at $303,000 after acquiring an additional 118 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Transcat by 5.6% in the second quarter. The Manufacturers Life Insurance Company now owns 2,795 shares of the scientific and technical instruments company’s stock valued at $238,000 after acquiring an additional 148 shares during the period. White Pine Capital LLC boosted its position in shares of Transcat by 1.5% in the first quarter. White Pine Capital LLC now owns 9,852 shares of the scientific and technical instruments company’s stock valued at $881,000 after acquiring an additional 150 shares during the period. FMR LLC boosted its position in shares of Transcat by 3.8% in the first quarter. FMR LLC now owns 4,605 shares of the scientific and technical instruments company’s stock valued at $412,000 after acquiring an additional 167 shares during the period. Finally, Nuveen Asset Management LLC boosted its position in shares of Transcat by 0.9% in the second quarter. Nuveen Asset Management LLC now owns 19,263 shares of the scientific and technical instruments company’s stock valued at $1,643,000 after acquiring an additional 176 shares during the period. 89.75% of the stock is currently owned by institutional investors and hedge funds.
About Transcat
Transcat, Inc provides calibration and laboratory instrument services in the United States, Canada, and internationally. It operates through two segments: Service and Distribution. The Service segment offers calibration, repair, inspection, analytical qualification, preventative maintenance, consulting, and other related services.
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