Transcat’s (TRNS) “Outperform” Rating Reaffirmed at Oppenheimer

Oppenheimer reissued their outperform rating on shares of Transcat (NASDAQ:TRNS) in a research note released on Thursday morning, Benzinga reports. They currently have a $125.00 target price on the scientific and technical instruments company’s stock, up from their previous target price of $120.00.

Other analysts have also issued research reports about the stock. TheStreet raised shares of Transcat from a c+ rating to a b rating in a research report on Wednesday, January 31st. HC Wainwright reiterated a buy rating and issued a $124.00 price objective on shares of Transcat in a report on Tuesday.

Transcat Stock Performance

Shares of TRNS opened at $105.25 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.81 and a current ratio of 3.37. Transcat has a twelve month low of $74.89 and a twelve month high of $115.41. The firm’s 50 day moving average price is $108.59 and its two-hundred day moving average price is $101.91. The firm has a market cap of $929.36 million, a P/E ratio of 80.96 and a beta of 0.59.

Transcat (NASDAQ:TRNS) last announced its quarterly earnings results on Monday, January 29th. The scientific and technical instruments company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.03. Transcat had a net margin of 4.16% and a return on equity of 9.32%. The firm had revenue of $65.17 million for the quarter, compared to analyst estimates of $63.36 million. On average, analysts forecast that Transcat will post 1.33 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Lee D. Rudow sold 5,000 shares of the company’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 $12,073,601.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Lee D. Rudow sold 5,000 shares of the company’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 $12,073,601.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lee D. Rudow sold 2,373 shares of the company’s stock in a transaction dated Saturday, March 30th. The stock was sold at an average price of $111.43, for a total transaction of $264,423.39. Following the sale, the chief executive officer now directly owns 103,688 shares of the company’s stock, valued at approximately $11,553,953.84. The disclosure for this sale can be found here. Insiders sold 8,073 shares of company stock valued at $900,023 over the last quarter. 4.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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