Craig Cairns Buys 1,050 Shares of Transcat (NASDAQ:TRNS) Stock

Transcat, Inc. (NASDAQ:TRNS) Director Craig Cairns acquired 1,050 shares of the business’s stock in a transaction on Thursday, August 6th. The stock was purchased at an average cost of $93.97 per share, with a total value of $98,668.50. Following the acquisition, the director directly owned 1,480 shares of the company’s stock, valued at $139,075.60. This represents a 244.19% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Transcat Price Performance

Shares of TRNS stock traded down $2.14 during mid-day trading on Monday, hitting $90.97. 191,805 shares of the stock were exchanged, compared to its average volume of 152,658. The firm has a fifty day moving average of $89.60 and a 200 day moving average of $79.73. The company has a quick ratio of 2.11, a current ratio of 2.49 and a debt-to-equity ratio of 0.36. Transcat, Inc. has a 52-week low of $50.23 and a 52-week high of $96.60. The company has a market cap of $851.48 million, a PE ratio of 245.86 and a beta of 0.68.

Transcat (NASDAQ:TRNS) last announced its quarterly earnings results on Tuesday, August 4th. The scientific and technical instruments company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.13. The firm had revenue of $92.95 million during the quarter, compared to analyst estimates of $86.55 million. Transcat had a return on equity of 5.56% and a net margin of 0.99%. Research analysts anticipate that Transcat, Inc. will post 1.74 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TRNS. Persistent Asset Partners Ltd purchased a new stake in shares of Transcat in the second quarter valued at approximately $52,000. Lazard Asset Management LLC acquired a new position in Transcat during the second quarter worth $54,000. Tower Research Capital LLC TRC boosted its stake in Transcat by 245.5% during the second quarter. Tower Research Capital LLC TRC now owns 1,123 shares of the scientific and technical instruments company’s stock worth $97,000 after buying an additional 798 shares during the last quarter. Marshall Wace LLP purchased a new stake in Transcat in the 4th quarter valued at $236,000. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of Transcat in the 4th quarter worth $247,000. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on TRNS shares. Zacks Research upgraded Transcat from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Wall Street Zen raised shares of Transcat from a “sell” rating to a “hold” rating in a report on Sunday, June 28th. Weiss Ratings raised shares of Transcat from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, May 28th. Finally, Northland Securities lowered shares of Transcat from an “outperform” rating to a “market perform” rating and set a $95.00 target price on the stock. in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $105.50.

Transcat Company Profile

Transcat, Inc (NASDAQ: TRNS) is a leading provider of calibration, laboratory, and metrology services in North America. Founded in 1964 and headquartered in Ronkonkoma, New York, the company specializes in ensuring the accuracy and compliance of measurement instruments across a wide range of industries. Transcat operates a network of ISO/IEC 17025–accredited laboratories and offers on-site field calibration, instrument repair, and preventive maintenance services.

In addition to its calibration services, Transcat distributes precision instrumentation and related software solutions from top manufacturers.