Roth Capital Initiates Coverage on Transcat (TRNS)
Roth Capital assumed coverage on shares of Transcat (NASDAQ:TRNS) in a report published on Friday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $20.00 target price on the scientific and technical instruments company’s stock.
TRNS has been the subject of several other reports. Zacks Investment Research lowered Transcat from a hold rating to a sell rating in a research report on Wednesday, December 20th. Singular Research initiated coverage on Transcat in a research report on Wednesday, November 15th. They set a buy rating and a $15.30 target price on the stock.
Transcat (TRNS) opened at $15.65 on Friday. The company has a market capitalization of $111.94, a price-to-earnings ratio of 23.01, a PEG ratio of 2.96 and a beta of 0.40. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.98 and a quick ratio of 1.53. Transcat has a 1 year low of $11.02 and a 1 year high of $16.49.
In related news, Director John T. Smith sold 2,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $15.70, for a total transaction of $31,400.00. Following the transaction, the director now directly owns 33,100 shares of the company’s stock, valued at approximately $519,670. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 8.80% of the company’s stock.
A number of large investors have recently made changes to their positions in TRNS. Northern Trust Corp increased its position in Transcat by 9.5% during the 2nd quarter. Northern Trust Corp now owns 18,062 shares of the scientific and technical instruments company’s stock valued at $220,000 after buying an additional 1,570 shares in the last quarter. Vanguard Group Inc. increased its position in Transcat by 3.4% during the 2nd quarter. Vanguard Group Inc. now owns 133,579 shares of the scientific and technical instruments company’s stock valued at $1,623,000 after buying an additional 4,450 shares in the last quarter. QCI Asset Management Inc. NY increased its position in Transcat by 31.1% during the 3rd quarter. QCI Asset Management Inc. NY now owns 32,234 shares of the scientific and technical instruments company’s stock valued at $437,000 after buying an additional 7,647 shares in the last quarter. Quantum Capital Management acquired a new position in Transcat during the 3rd quarter valued at about $696,000. Finally, Ameriprise Financial Inc. acquired a new position in Transcat during the 3rd quarter valued at about $2,484,000. 56.53% of the stock is currently owned by institutional investors.
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Transcat, Inc is a provider of calibration and laboratory instrument services and a distributor of professional grade test, measurement and control instrumentation. The Company conducts its business through two segments: service (Service) and distribution (Distribution). Through the Service segment, the Company offers calibration, repair, inspection, analytical qualifications, preventative maintenance and other related services, a majority of which are processed through its asset management system, CalTrak (CalTrak).
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