Transcat (NASDAQ:TRNS) PT Raised to $85.00

Transcat (NASDAQ:TRNSGet Rating) had its price objective increased by research analysts at HC Wainwright from $77.00 to $85.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the scientific and technical instruments company’s stock. HC Wainwright’s price objective suggests a potential upside of 17.31% from the stock’s previous close.

A number of other brokerages have also weighed in on TRNS. Craig Hallum reduced their price objective on shares of Transcat from $94.00 to $81.00 and set a “buy” rating on the stock in a report on Wednesday, May 25th. Roth Capital reduced their price objective on shares of Transcat from $97.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, May 26th.

Transcat Stock Performance

Shares of TRNS stock opened at $72.46 on Wednesday. The company has a quick ratio of 1.70, a current ratio of 2.15 and a debt-to-equity ratio of 0.54. Transcat has a 52 week low of $50.32 and a 52 week high of $101.05. The stock has a market capitalization of $546.93 million, a PE ratio of 51.39 and a beta of 0.87. The firm has a 50 day moving average of $60.39 and a two-hundred day moving average of $71.17.

Transcat (NASDAQ:TRNSGet Rating) last announced its quarterly earnings data on Monday, May 23rd. The scientific and technical instruments company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.10. Transcat had a net margin of 5.08% and a return on equity of 14.23%. The business had revenue of $55.88 million for the quarter, compared to analyst estimates of $55.18 million. On average, research analysts predict that Transcat will post 1.38 EPS for the current fiscal year.

Insider Activity

In other news, Director Carl E. Sassano sold 20,000 shares of the business’s stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $63.14, for a total value of $1,262,800.00. Following the completion of the sale, the director now directly owns 45,095 shares of the company’s stock, valued at approximately $2,847,298.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.80% of the company’s stock.

Institutional Trading of Transcat

Institutional investors and hedge funds have recently made changes to their positions in the company. US Bancorp DE lifted its holdings in shares of Transcat by 137.9% in 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. Covestor Ltd purchased a new stake in shares of Transcat in the 4th quarter valued at about $44,000. Amalgamated Bank purchased a new stake in Transcat during the 1st quarter valued at approximately $94,000. Janney Montgomery Scott LLC purchased a new stake in Transcat during the 4th quarter valued at approximately $213,000. Finally, Advisor Group Holdings Inc. raised its stake in Transcat by 184.8% during the 4th quarter. Advisor Group Holdings Inc. now owns 2,612 shares of the scientific and technical instruments company’s stock valued at $241,000 after acquiring an additional 1,695 shares during the last quarter. 75.11% of the stock is owned by hedge funds and other institutional investors.

About Transcat

(Get Rating)

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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