HC Wainwright Reiterates Buy Rating for Transcat (NASDAQ:TRNS)

Transcat (NASDAQ:TRNS)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a report issued on Tuesday, Benzinga reports. They currently have a $124.00 price target on the scientific and technical instruments company’s stock. HC Wainwright’s price target suggests a potential upside of 18.42% from the company’s current price. HC Wainwright also issued estimates for Transcat’s Q4 2024 earnings at $0.53 EPS and FY2024 earnings at $1.35 EPS.

Separately, TheStreet upgraded shares of Transcat from a “c+” rating to a “b” rating in a report on Wednesday, January 31st.

Transcat Stock Performance

Shares of NASDAQ:TRNS opened at $104.71 on Tuesday. Transcat has a 52 week low of $74.89 and a 52 week high of $115.41. The stock has a market capitalization of $924.59 million, a P/E ratio of 80.55 and a beta of 0.59. The firm has a fifty day simple moving average of $108.70 and a two-hundred day simple moving average of $101.88. The company has a quick ratio of 2.81, a current ratio of 3.37 and a debt-to-equity ratio of 0.01.

Transcat (NASDAQ:TRNS) last released its earnings results on Monday, January 29th. The scientific and technical instruments company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.03. The firm had revenue of $65.17 million during the quarter, compared to analyst estimates of $63.36 million. Transcat had a net margin of 4.16% and a return on equity of 9.32%. On average, analysts expect that Transcat will post 1.36 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Lee D. Rudow sold 5,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $111.30, for a total value of $556,500.00. Following the completion of the sale, the chief executive officer now owns 108,478 shares in the company, valued at approximately $12,073,601.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Charles P. Hadeed sold 700 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $113.00, for a total value of $79,100.00. Following the completion of the sale, the director now owns 22,678 shares in the company, valued at approximately $2,562,614. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Lee D. Rudow sold 5,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $111.30, for a total transaction of $556,500.00. Following the completion of the sale, the chief executive officer now owns 108,478 shares of the company’s stock, valued at approximately $12,073,601.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,073 shares of company stock worth $900,023. 4.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Transcat

Several large investors have recently modified their holdings of TRNS. Advisor Group Holdings Inc. grew its position in shares of Transcat by 95.5% in the 1st quarter. Advisor Group Holdings Inc. now owns 5,107 shares of the scientific and technical instruments company’s stock worth $414,000 after buying an additional 2,495 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Transcat by 2.8% in the 1st quarter. Bank of New York Mellon Corp now owns 35,379 shares of the scientific and technical instruments company’s stock worth $2,871,000 after buying an additional 948 shares during the last quarter. US Bancorp DE grew its position 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 worth $28,000 after buying an additional 200 shares during the last quarter. MetLife Investment Management LLC grew its position in shares of Transcat by 41.3% in the 1st quarter. MetLife Investment Management LLC now owns 4,039 shares of the scientific and technical instruments company’s stock worth $328,000 after buying an additional 1,181 shares during the last quarter. Finally, Rhumbline Advisers grew its position in shares of Transcat by 16.1% in the 1st quarter. Rhumbline Advisers now owns 6,411 shares of the scientific and technical instruments company’s stock worth $520,000 after buying an additional 890 shares during the last quarter. Institutional investors own 98.34% of the company’s stock.

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.