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

Key Points

• Director Craig Cairns purchased 1,050 Transcat shares at an average price of $93.97, investing $98,668.50 and increasing his ownership by 244.19% to 1,480 shares.
• Transcat shares fell 2.3% to $90.97, despite the company reporting quarterly EPS of $0.51, beating estimates by $0.13, and revenue of $92.95 million, above consensus.
• Analysts maintain a consensus “Hold” rating with a $105.50 target price, while institutional investors and hedge funds own 98.34% of the company.

Transcat, Inc. (NASDAQ:TRNS - Get Free Report) Director Craig Cairns acquired 1,050 shares of the business's stock in a transaction dated Thursday, August 6th. The stock was purchased at an average cost of $93.97 per share, for a total transaction of $98,668.50. Following the transaction, the director owned 1,480 shares in the company, valued at approximately $139,075.60. The trade was a 244.19% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Transcat Stock Down 2.3%

Shares of NASDAQ TRNS traded down $2.14 during trading hours on Monday, hitting $90.97. 191,805 shares of the stock were exchanged, compared to its average volume of 152,658. The company has a market cap of $851.48 million, a PE ratio of 245.86 and a beta of 0.68. Transcat, Inc. has a 12 month low of $50.23 and a 12 month high of $96.60. 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 fifty day moving average price of $89.60 and a 200-day moving average price of $79.73.

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

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Persistent Asset Partners Ltd acquired a new position in shares of Transcat in the 2nd quarter valued at about $52,000. Lazard Asset Management LLC acquired a new position in Transcat in the second quarter valued at approximately $54,000. Tower Research Capital LLC TRC lifted its holdings in Transcat by 245.5% in the second quarter. Tower Research Capital LLC TRC now owns 1,123 shares of the scientific and technical instruments company's stock valued at $97,000 after acquiring an additional 798 shares during the period. Marshall Wace LLP purchased a new stake in Transcat in the 4th quarter worth approximately $236,000. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of Transcat during the 4th quarter worth approximately $247,000. 98.34% of the stock is currently owned by institutional investors and hedge funds.

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.

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