Transcat (NASDAQ:TRNS) Stock Rating Upgraded by Northland Securities

Transcat (NASDAQ:TRNS) was upgraded by stock analysts at Northland Securities from a “market perform” rating to an “outperform” rating in a report released on Wednesday, Briefing.com reports. The firm presently has a $95.00 price objective on the scientific and technical instruments company’s stock. Northland Securities’ price target suggests a potential upside of 16.26% from the stock’s current price.

Several other analysts have also recently weighed in on the stock. Wall Street Zen raised shares of Transcat from a “sell” rating to a “hold” rating in a research note on Sunday, June 28th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Transcat in a research report on Tuesday, August 25th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $95.00.

Transcat Trading Up 1.3%

Shares of TRNS stock opened at $81.71 on Wednesday. The company’s 50-day moving average price is $87.22 and its 200-day moving average price is $85.31. The company has a current ratio of 2.49, a quick ratio of 2.11 and a debt-to-equity ratio of 0.36. The stock has a market cap of $767.26 million, a price-to-earnings ratio of 220.84 and a beta of 0.66. Transcat has a twelve month low of $50.23 and a twelve month high of $100.00.

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

Insider Buying and Selling at Transcat

In other news, Director Craig D. Cairns purchased 1,050 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The stock was bought at an average price of $93.97 per share, for a total transaction of $98,668.50. Following the completion of the purchase, the director directly owned 1,480 shares of the company’s stock, valued at $139,075.60. The trade was a 244.19% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Christopher Gillette sold 504 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $94.23, for a total value of $47,491.92. Following the completion of the transaction, the director directly owned 200 shares in the company, valued at $18,846. This trade represents a 71.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Transcat

A number of large investors have recently bought and sold shares of TRNS. Integrated Wealth Concepts LLC purchased a new stake in shares of Transcat during the 2nd quarter worth $32,000. Persistent Asset Partners Ltd acquired a new position in shares of Transcat in the second quarter worth $52,000. GAMMA Investing LLC grew its holdings in shares of Transcat by 133.6% during the third quarter. GAMMA Investing LLC now owns 1,030 shares of the scientific and technical instruments company’s stock worth $91,000 after buying an additional 589 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in Transcat in the 2nd quarter valued at $204,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Transcat in the 2nd quarter worth about $226,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Transcat Company Profile

Transcat, Inc provides calibration, testing, repair, and compliance services for test and measurement equipment. Its offerings help organizations maintain the accuracy, reliability, and regulatory compliance of instruments used in manufacturing, laboratory, pharmaceutical, biotechnology, medical device, aerospace, defense, and other highly regulated environments.

The company provides both onsite and laboratory-based calibration services, along with equipment repair, validation, asset management, and related technical support.