HC Wainwright Comments on Transcat, Inc.’s FY2024 Earnings (NASDAQ:TRNS)

Transcat, Inc. (NASDAQ:TRNS) – Equities researchers at HC Wainwright reduced their FY2024 earnings per share estimates for shares of Transcat in a note issued to investors on Tuesday, April 16th. HC Wainwright analyst S. Buck now expects that the scientific and technical instruments company will post earnings of $1.35 per share for the year, down from their previous forecast of $1.45. HC Wainwright has a “Buy” rating and a $124.00 price target on the stock. The consensus estimate for Transcat’s current full-year earnings is $1.33 per share. HC Wainwright also issued estimates for Transcat’s Q4 2024 earnings at $0.53 EPS.

Transcat (NASDAQ:TRNS) last announced its earnings results on Monday, January 29th. The scientific and technical instruments company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.03. Transcat had a return on equity of 9.32% and a net margin of 4.16%. The firm had revenue of $65.17 million for the quarter, compared to the consensus estimate of $63.36 million.

Several other analysts also recently weighed in on the company. Oppenheimer reiterated an “outperform” rating and set a $125.00 price target (up previously from $120.00) on shares of Transcat in a research note on Thursday. TheStreet upgraded Transcat from a “c+” rating to a “b” rating in a research note on Wednesday, January 31st.

Transcat Stock Up 0.5 %

Transcat stock opened at $105.25 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.81 and a current ratio of 3.37. The business’s 50-day simple moving average is $108.59 and its two-hundred day simple moving average is $101.91. The company has a market cap of $929.36 million, a PE ratio of 80.96 and a beta of 0.59. Transcat has a fifty-two week low of $74.89 and a fifty-two week high of $115.41.

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 stock was sold at an average price of $111.30, for a total value of $556,500.00. Following the completion of the transaction, the chief executive officer now owns 108,478 shares of the company’s stock, valued at approximately $12,073,601.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Charles P. Hadeed sold 700 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $113.00, for a total value of $79,100.00. Following the completion of the transaction, the director now owns 22,678 shares of the company’s stock, valued at approximately $2,562,614. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 value of $556,500.00. Following the completion of the transaction, the chief executive officer now directly 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. Insiders sold a total of 8,073 shares of company stock valued at $900,023 in the last quarter. 4.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Transcat

A number of large investors have recently bought and sold shares of the business. Diversified Trust Co raised its holdings in Transcat by 4.3% in the 4th quarter. Diversified Trust Co now owns 2,435 shares of the scientific and technical instruments company’s stock worth $266,000 after purchasing an additional 100 shares during the period. White Pine Capital LLC raised its holdings in Transcat by 1.5% in the 3rd quarter. White Pine Capital LLC now owns 9,985 shares of the scientific and technical instruments company’s stock worth $978,000 after purchasing an additional 144 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Transcat by 5.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,795 shares of the scientific and technical instruments company’s stock worth $238,000 after purchasing an additional 148 shares during the period. FMR LLC raised its holdings in Transcat by 3.8% in the 1st quarter. FMR LLC now owns 4,605 shares of the scientific and technical instruments company’s stock worth $412,000 after purchasing an additional 167 shares during the period. Finally, Commonwealth Equity Services LLC raised its holdings in Transcat by 4.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 4,377 shares of the scientific and technical instruments company’s stock worth $429,000 after purchasing an additional 175 shares during the period. Institutional investors and hedge funds own 98.34% of the company’s stock.

Transcat Company Profile

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.