Transcat (NASDAQ:TRNS) Rating Lowered to Market Perform at Northland Securities

Transcat (NASDAQ:TRNS) was downgraded by equities research analysts at Northland Securities from an “outperform” rating to a “market perform” rating in a research note issued on Wednesday, Marketbeat.com reports.

Several other research analysts also recently issued reports on TRNS. Oppenheimer reaffirmed an “outperform” rating and set a $125.00 price objective (up previously from $120.00) on shares of Transcat in a report on Thursday, April 18th. HC Wainwright increased their price target on Transcat from $124.00 to $156.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, TheStreet raised Transcat from a “c+” rating to a “b” rating in a research note on Wednesday, January 31st. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $134.50.

Transcat Stock Down 5.4 %

NASDAQ:TRNS opened at $134.47 on Wednesday. The stock’s fifty day moving average price is $113.66 and its two-hundred day moving average price is $106.14. Transcat has a 52-week low of $81.26 and a 52-week high of $147.00. 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 company has a market cap of $1.19 billion, a price-to-earnings ratio of 84.57 and a beta of 0.61.

Insiders Place Their Bets

In other Transcat news, CEO Lee D. Rudow sold 3,343 shares of Transcat stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $124.12, for a total transaction of $414,933.16. Following the transaction, the chief executive officer now directly owns 103,692 shares in the company, valued at $12,870,251.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Lee D. Rudow sold 2,373 shares of the business’s stock in a transaction dated Saturday, March 30th. The stock was sold at an average price of $111.43, for a total value of $264,423.39. Following the sale, the chief executive officer now directly owns 103,688 shares in the company, valued at $11,553,953.84. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Lee D. Rudow sold 3,343 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $124.12, for a total value of $414,933.16. Following the completion of the sale, the chief executive officer now owns 103,692 shares in the company, valued at $12,870,251.04. The disclosure for this sale can be found here. Corporate insiders own 4.20% of the company’s stock.

Institutional Trading of Transcat

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Transcat by 13.3% in the third quarter. Vanguard Group Inc. now owns 425,378 shares of the scientific and technical instruments company’s stock valued at $41,674,000 after purchasing an additional 49,828 shares in the last quarter. Monashee Investment Management LLC acquired a new stake in shares of Transcat in the third quarter valued at about $588,000. Quadrature Capital Ltd acquired a new stake in shares of Transcat in the third quarter valued at about $2,847,000. Conestoga Capital Advisors LLC increased its position in shares of Transcat by 0.6% in the fourth quarter. Conestoga Capital Advisors LLC now owns 762,861 shares of the scientific and technical instruments company’s stock valued at $83,404,000 after acquiring an additional 4,805 shares during the last quarter. Finally, EAM Investors LLC acquired a new stake in shares of Transcat in the third quarter valued at about $2,962,000. 98.34% of the stock is currently owned by institutional investors.

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.