Transcat (NASDAQ:TRNS) Now Covered by Analysts at CJS Securities

Key Points

• CJS Securities initiated coverage of Transcat with an “outperform” rating and a $115 price target, implying approximately 38% upside from the prior close.
• Analyst sentiment remains mixed: Transcat has a consensus “Hold” rating and an average price target of $105, with two Buys, one Hold, and one Sell rating.
• Transcat’s latest quarterly results exceeded expectations, reporting $0.51 in EPS versus $0.38 expected and revenue of $92.95 million versus an $86.55 million consensus estimate.

Research analysts at CJS Securities initiated coverage on shares of Transcat (NASDAQ:TRNS - Get Free Report) in a research report issued on Tuesday, Briefing.com reports. The firm set an "outperform" rating and a $115.00 price target on the scientific and technical instruments company's stock. CJS Securities's target price indicates a potential upside of 38.01% from the stock's previous close.

Several other equities research analysts have also issued reports on the stock. Northland Securities upgraded shares of Transcat from a "market perform" rating to an "outperform" rating and set a $95.00 price target on the stock in a research note on Wednesday, October 21st. Weiss Ratings restated a "sell (d+)" rating on shares of Transcat in a research note on Tuesday, August 25th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $105.00.

Transcat Price Performance

Shares of TRNS opened at $83.33 on Tuesday. The stock has a market capitalization of $782.47 million, a P/E ratio of 225.22 and a beta of 0.66. Transcat has a twelve month low of $50.23 and a twelve month high of $100.00. The company has a 50 day moving average of $86.46 and a 200-day moving average of $81.10. 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 (NASDAQ:TRNS - Get Free Report) last posted 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 company had revenue of $92.95 million for the quarter, compared to the consensus estimate of $86.55 million. As a group, equities research analysts forecast that Transcat will post 1.74 EPS for the current fiscal year.

Insider Activity at Transcat

In related news, Director Christopher Gillette sold 504 shares of the firm's 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 of the company's stock, valued at approximately $18,846. This trade represents a 71.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Craig D. Cairns bought 1,050 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were purchased at an average price of $93.97 per share, for a total transaction of $98,668.50. Following the completion of the acquisition, the director owned 1,480 shares of the company's stock, valued at $139,075.60. The trade was a 244.19% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 1.80% of the stock is owned by insiders.

Institutional Trading of Transcat

A number of large investors have recently added to or reduced their stakes in TRNS. Integrated Wealth Concepts LLC bought a new stake in shares of Transcat in the 2nd quarter valued at about $32,000. Persistent Asset Partners Ltd bought a new position in Transcat during the second quarter worth about $52,000. GAMMA Investing LLC grew its holdings in 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 purchasing an additional 589 shares during the period. Canada Pension Plan Investment Board acquired a new position in Transcat during the second quarter worth approximately $204,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Transcat during the second quarter worth approximately $226,000. Institutional investors and hedge funds own 98.34% of the company's stock.

Transcat Company Profile

Transcat, Inc NASDAQ: TRNS provides calibration, compliance, and measurement services for organizations that rely on accurate test and measurement equipment. The company supports customers in regulated industries, including life sciences, aerospace and defense, energy, manufacturing, and other industrial markets.

Its service offerings include laboratory and onsite calibration, repair, validation, and asset-management services. Transcat calibrates a broad range of equipment used to measure temperature, pressure, electrical and electronic properties, radio frequency signals, dimensional characteristics, and other technical parameters.

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