Transcat, Inc. (NASDAQ:TRNS) to Post FY2024 Earnings of $1.35 Per Share, HC Wainwright Forecasts

Transcat, Inc. (NASDAQ:TRNS - Free Report) - Equities research analysts at HC Wainwright cut their FY2024 earnings estimates for shares of Transcat in a research report issued to clients and investors on Tuesday, April 16th. HC Wainwright analyst S. Buck now anticipates that the scientific and technical instruments company will post earnings per share of $1.35 for the year, down from their prior forecast of $1.45. HC Wainwright has a "Buy" rating and a $124.00 price objective on the stock. The consensus estimate for Transcat's current full-year earnings is $1.36 per share. HC Wainwright also issued estimates for Transcat's Q4 2024 earnings at $0.53 EPS.

Separately, TheStreet upgraded Transcat from a "c+" rating to a "b" rating in a research report on Wednesday, January 31st.

Transcat Price Performance

Shares of NASDAQ TRNS traded down $3.84 during midday trading on Wednesday, reaching $104.71. 48,434 shares of the stock traded hands, compared to its average volume of 37,953. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.37 and a quick ratio of 2.81. The stock has a market capitalization of $924.59 million, a PE ratio of 80.55 and a beta of 0.59. Transcat has a one year low of $74.89 and a one year high of $115.41. The company's 50 day moving average is $108.70 and its 200 day moving average is $101.88.

Transcat (NASDAQ:TRNS - Get Free Report) last announced its quarterly earnings data on Monday, January 29th. The scientific and technical instruments company reported $0.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.35 by $0.03. The business had revenue of $65.17 million during the quarter, compared to analyst estimates of $63.36 million. Transcat had a net margin of 4.16% and a return on equity of 9.32%.

Insider Activity

In other Transcat news, CEO Lee D. Rudow sold 5,000 shares of Transcat stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $111.30, for a total value of $556,500.00. Following the transaction, the chief executive officer now owns 108,478 shares in the company, valued at $12,073,601.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Charles P. Hadeed sold 700 shares of the business's stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $113.00, for a total transaction of $79,100.00. Following the sale, the director now owns 22,678 shares in the company, valued at $2,562,614. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Lee D. Rudow sold 5,000 shares of Transcat stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $111.30, for a total value of $556,500.00. Following the sale, the chief executive officer now directly owns 108,478 shares of the company's stock, valued at approximately $12,073,601.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,073 shares of company stock worth $900,023. Company insiders own 4.20% of the company's stock.

Institutional Investors Weigh In On Transcat

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Transcat by 13.3% during the third quarter. Vanguard Group Inc. now owns 425,378 shares of the scientific and technical instruments company's stock worth $41,674,000 after purchasing an additional 49,828 shares during the period. Monashee Investment Management LLC acquired a new stake in shares of Transcat during the third quarter worth about $588,000. Quadrature Capital Ltd acquired a new stake in shares of Transcat during the third quarter worth about $2,847,000. Rice Hall James & Associates LLC lifted its holdings in shares of Transcat by 59.2% during the third quarter. Rice Hall James & Associates LLC now owns 28,781 shares of the scientific and technical instruments company's stock worth $2,820,000 after purchasing an additional 10,697 shares during the period. Finally, Conestoga Capital Advisors LLC lifted its holdings in shares of Transcat by 0.6% during the fourth quarter. Conestoga Capital Advisors LLC now owns 762,861 shares of the scientific and technical instruments company's stock worth $83,404,000 after purchasing an additional 4,805 shares during the period. Institutional investors and hedge funds own 98.34% of the company's stock.

Transcat Company Profile

Transcat, Inc provides calibration and laboratory instrument services in the United States, Canada, and internationally. It operates through two segments: Service and Distribution. The Service segment offers calibration, repair, inspection, analytical qualification, preventative maintenance, consulting, and other related services.