Transcat, Inc. (NASDAQ:TRNS) saw a significant increase in short interest in October. As of October 30th, there was short interest totalling 58,200 shares, an increase of 17.6% from the October 15th total of 49,500 shares. Currently, 0.8% of the company's stock are short sold. Based on an average trading volume of 21,400 shares, the short-interest ratio is presently 2.7 days.
In other Transcat news, Director Charles P. Hadeed sold 9,016 shares of Transcat stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $31.51, for a total value of $284,094.16. Also, Director Charles P. Hadeed sold 2,615 shares of Transcat stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $31.50, for a total transaction of $82,372.50. Following the completion of the transaction, the director now directly owns 50,474 shares in the company, valued at $1,589,931. The disclosure for this sale can be found here. 7.90% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of TRNS. Royce & Associates LP raised its holdings in Transcat by 86.4% in the 3rd quarter. Royce & Associates LP now owns 315,651 shares of the scientific and technical instruments company's stock worth $9,249,000 after purchasing an additional 146,296 shares during the period. ArrowMark Colorado Holdings LLC increased its position in shares of Transcat by 45.0% in the second quarter. ArrowMark Colorado Holdings LLC now owns 218,276 shares of the scientific and technical instruments company's stock valued at $5,645,000 after buying an additional 67,781 shares in the last quarter. Wasatch Advisors Inc. raised its stake in shares of Transcat by 9.6% during the 3rd quarter. Wasatch Advisors Inc. now owns 547,814 shares of the scientific and technical instruments company's stock worth $16,051,000 after buying an additional 47,840 shares during the period. Cove Street Capital LLC lifted its position in shares of Transcat by 104.8% during the 2nd quarter. Cove Street Capital LLC now owns 86,009 shares of the scientific and technical instruments company's stock valued at $2,224,000 after buying an additional 44,009 shares in the last quarter. Finally, Conestoga Capital Advisors LLC acquired a new stake in Transcat in the 2nd quarter valued at $965,000. 70.63% of the stock is currently owned by institutional investors and hedge funds.
Transcat stock opened at $31.03 on Friday. The firm has a market cap of $230.71 million, a PE ratio of 32.32, a P/E/G ratio of 4.23 and a beta of 0.72. Transcat has a 12 month low of $16.50 and a 12 month high of $34.18. The stock's 50 day simple moving average is $29.72 and its two-hundred day simple moving average is $27.98. The company has a current ratio of 2.53, a quick ratio of 1.73 and a debt-to-equity ratio of 0.39.
Transcat (NASDAQ:TRNS) last posted its earnings results on Tuesday, October 27th. The scientific and technical instruments company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.10. Transcat had a net margin of 4.21% and a return on equity of 10.91%. On average, equities research analysts forecast that Transcat will post 0.81 EPS for the current year.
Several equities analysts have issued reports on the stock. Zacks Investment Research raised shares of Transcat from a "hold" rating to a "buy" rating and set a $37.00 price target on the stock in a report on Thursday. B. Riley assumed coverage on shares of Transcat in a report on Thursday, September 17th. They issued a "buy" rating and a $36.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of "Buy" and an average target price of $37.75.
Transcat Company Profile
Transcat, Inc provides calibration and laboratory instrument services in North America and internationally. It operates in two segments, Service and Distribution. The Service segment offers calibration, repair, inspection, analytical qualification, preventative maintenance, consulting, and other related services.
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7 Stocks That Could Provide a Year-End Rally
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