Transcat (NASDAQ:TRNS) Raised to "Outperform" at Northland Securities

Transcat (NASDAQ:TRNS - Get Free Report) was upgraded by equities research analysts at Northland Securities from a "market perform" rating to an "outperform" rating in a research note issued to investors on Wednesday, Marketbeat reports. The firm presently has a $95.00 price target on the scientific and technical instruments company's stock. Northland Securities's target price suggests a potential upside of 15.97% from the company's current price.

TRNS has been the subject of several other research reports. 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 reissued a "sell (d+)" rating on shares of Transcat in a research note on Tuesday, August 25th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $95.00.

Transcat Trading Up 0.1%

NASDAQ:TRNS traded up $0.08 on Wednesday, reaching $81.92. The company's stock had a trading volume of 163,817 shares, compared to its average volume of 144,014. Transcat has a 12-month low of $50.23 and a 12-month high of $100.00. The company has a quick ratio of 2.11, a current ratio of 2.49 and a debt-to-equity ratio of 0.36. The firm has a market cap of $769.06 million, a price-to-earnings ratio of 221.41 and a beta of 0.66. The stock has a 50 day moving average price of $86.74 and a 200 day moving average price of $85.42.

Transcat (NASDAQ:TRNS - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The scientific and technical instruments company reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.38 by $0.13. The business had revenue of $92.95 million during the quarter, compared to analysts' expectations of $86.55 million. Transcat had a return on equity of 5.56% and a net margin of 0.99%. On average, equities analysts anticipate that Transcat will post 1.74 EPS for the current fiscal year.

Insider Buying and Selling at Transcat

In related news, Director Christopher Gillette sold 504 shares of the firm's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $94.23, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Craig D. Cairns bought 1,050 shares of the company'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 completion of the transaction, the director owned 1,480 shares in the company, valued at $139,075.60. This represents a 244.19% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 1.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Integrated Wealth Concepts LLC acquired a new position in shares of Transcat in the second quarter valued at approximately $32,000. Persistent Asset Partners Ltd acquired a new stake in Transcat during the 2nd quarter worth approximately $52,000. GAMMA Investing LLC boosted its position in Transcat by 133.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,030 shares of the scientific and technical instruments company's stock valued at $91,000 after buying an additional 589 shares during the period. Canada Pension Plan Investment Board purchased a new position in Transcat in the 2nd quarter valued at approximately $204,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Transcat in the second quarter worth $226,000. Hedge funds and other institutional investors 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.