Northland Capmk Weighs in on Transcat, Inc.’s Q3 2024 Earnings (NASDAQ:TRNS)

Posted by Defense World Staff on Nov 4th, 2023

Transcat, Inc. (NASDAQ:TRNS – Free Report) – Stock analysts at Northland Capmk lowered their Q3 2024 EPS estimates for shares of Transcat in a report issued on Wednesday, November 1st. Northland Capmk analyst E. Jackson now expects that the scientific and technical instruments company will post earnings of $0.25 per share for the quarter, down from their prior estimate of $0.38. The consensus estimate for Transcat’s current full-year earnings is $1.60 per share. Northland Capmk also issued estimates for Transcat’s FY2024 earnings at $1.24 EPS, FY2025 earnings at $1.77 EPS, FY2026 earnings at $1.93 EPS, FY2027 earnings at $2.18 EPS and FY2028 earnings at $2.49 EPS.

TRNS has been the topic of a number of other reports. StockNews.com began coverage on shares of Transcat in a research report on Thursday, October 5th. They set a “hold” rating on the stock. TheStreet downgraded shares of Transcat from a “b” rating to a “c+” rating in a research report on Tuesday. Craig Hallum boosted their price objective on shares of Transcat from $103.00 to $112.00 in a research report on Tuesday, September 5th. HC Wainwright boosted their price objective on shares of Transcat from $106.00 to $108.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Oppenheimer began coverage on shares of Transcat in a research report on Tuesday, October 17th. They set an “outperform” rating and a $110.00 price objective on the stock. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $106.80.

Check Out Our Latest Stock Report on TRNS

Transcat Trading Down 2.7 %

Shares of TRNS opened at $86.61 on Friday. The firm has a market cap of $690.28 million, a price-to-earnings ratio of 76.65 and a beta of 0.66. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.04 and a current ratio of 2.68. Transcat has a fifty-two week low of $65.60 and a fifty-two week high of $115.41. The firm has a 50 day moving average price of $99.04 and a 200-day moving average price of $91.37.

Insider Buying and Selling

In related news, insider Scott Deverell sold 1,000 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $101.66, for a total value of $101,660.00. Following the completion of the sale, the insider now directly owns 1,685 shares of the company’s stock, valued at approximately $171,297.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Charles P. Hadeed sold 5,813 shares of the business’s stock in a transaction 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 owns 22,701 shares in the company, valued at $2,305,967.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott Deverell sold 1,000 shares of the business’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $101.66, for a total transaction of $101,660.00. Following the completion of the sale, the insider now owns 1,685 shares in the company, valued at approximately $171,297.10. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by insiders.

Institutional Trading of Transcat

Several hedge funds have recently made changes to their positions in TRNS. Advisor Group Holdings Inc. grew its holdings in Transcat by 95.5% during the 1st quarter. Advisor Group Holdings Inc. now owns 5,107 shares of the scientific and technical instruments company’s stock valued at $414,000 after purchasing an additional 2,495 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Transcat by 2.8% during the 1st quarter. Bank of New York Mellon Corp now owns 35,379 shares of the scientific and technical instruments company’s stock valued at $2,871,000 after purchasing an additional 948 shares during the last quarter. US Bancorp DE grew its holdings in Transcat by 137.9% during the 1st quarter. US Bancorp DE now owns 345 shares of the scientific and technical instruments company’s stock valued at $28,000 after purchasing an additional 200 shares during the last quarter. MetLife Investment Management LLC grew its holdings in Transcat by 41.3% during the 1st quarter. MetLife Investment Management LLC now owns 4,039 shares of the scientific and technical instruments company’s stock valued at $328,000 after purchasing an additional 1,181 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in Transcat by 16.1% during the 1st quarter. Rhumbline Advisers now owns 6,411 shares of the scientific and technical instruments company’s stock valued at $520,000 after purchasing an additional 890 shares during the last quarter. 89.75% of the stock is currently owned by hedge funds and other institutional investors.

Transcat Company Profile

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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.