HC Wainwright Reaffirms "Buy" Rating for Transcat (NASDAQ:TRNS)

Transcat (NASDAQ:TRNS - Get Free Report)'s stock had its "buy" rating reiterated by analysts at HC Wainwright in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $124.00 price target on the scientific and technical instruments company's stock. HC Wainwright's target price indicates a potential upside of 14.23% from the company's current price.

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

Transcat Stock Performance

Shares of NASDAQ:TRNS traded down $1.53 during trading on Tuesday, reaching $108.55. The company had a trading volume of 82,464 shares, compared to its average volume of 37,810. The firm has a market capitalization of $958.50 million, a price-to-earnings ratio of 83.50 and a beta of 0.59. 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's fifty day moving average price is $108.78 and its 200 day moving average price is $101.86. Transcat has a fifty-two week low of $74.89 and a fifty-two week high of $115.41.

Transcat (NASDAQ:TRNS - Get Free Report) last released its earnings results 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 for the quarter, compared to analyst estimates of $63.36 million. Transcat had a return on equity of 9.32% and a net margin of 4.16%. As a group, equities research analysts predict that Transcat will post 1.36 EPS for the current year.

Insider Buying and Selling

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

Institutional Trading of Transcat

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Conestoga Capital Advisors LLC lifted its position in shares of Transcat by 0.6% in the fourth quarter. Conestoga Capital Advisors LLC now owns 762,861 shares of the scientific and technical instruments company's stock valued at $83,404,000 after acquiring an additional 4,805 shares in the last quarter. Fred Alger Management LLC lifted its position in shares of Transcat by 6.1% in the first quarter. Fred Alger Management LLC now owns 727,225 shares of the scientific and technical instruments company's stock valued at $65,007,000 after acquiring an additional 41,563 shares in the last quarter. Wasatch Advisors LP lifted its position in shares of Transcat by 13.3% in the fourth quarter. Wasatch Advisors LP now owns 701,099 shares of the scientific and technical instruments company's stock valued at $76,651,000 after acquiring an additional 82,458 shares in the last quarter. BlackRock Inc. lifted its position in shares of Transcat by 8.1% in the second quarter. BlackRock Inc. now owns 494,947 shares of the scientific and technical instruments company's stock valued at $42,224,000 after acquiring an additional 37,225 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Transcat by 12.3% in the fourth quarter. Vanguard Group Inc. now owns 477,799 shares of the scientific and technical instruments company's stock valued at $52,238,000 after acquiring an additional 52,421 shares in the last quarter. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

About Transcat

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.