Transcat (NASDAQ:TRNS) Shares Gap Up on Insider Buying Activity

Key Points

• Transcat shares rose 6.9%, opening at $108.67 after CEO Jaime A. Irick bought 2,275 shares for about $230,367.
• The company beat quarterly expectations, reporting EPS of $0.64 versus $0.45 expected and revenue of $97.09 million versus $92.46 million expected.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $108.33; ratings range from Strong Buy to Sell.

Transcat, Inc. (NASDAQ:TRNS - Get Free Report) gapped up before the market opened on Monday after an insider bought additional shares in the company. The stock had previously closed at $101.51, but opened at $108.67. Transcat shares last traded at $108.5660, with a volume of 36,488 shares changing hands.

Specifically, CEO Jaime A. Irick bought 2,275 shares of the company's stock in a transaction dated Thursday, November 5th. The shares were acquired at an average cost of $101.26 per share, with a total value of $230,366.50. Following the completion of the transaction, the chief executive officer owned 2,275 shares in the company, valued at $230,366.50. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Northland Securities upgraded Transcat from a "market perform" rating to an "outperform" rating and set a $95.00 price objective for the company in a research note on Wednesday, October 21st. Weiss Ratings restated a "sell (d+)" rating on shares of Transcat in a report on Tuesday, August 25th. CJS Securities initiated coverage on Transcat in a research report on Tuesday, October 27th. They issued an "outperform" rating and a $115.00 target price on the stock. Zacks Research upgraded Transcat from a "hold" rating to a "strong-buy" rating in a research note on Thursday. Finally, Oppenheimer upgraded Transcat from a "market perform" rating to an "outperform" rating and set a $115.00 target price for the company in a research note on Wednesday, November 4th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $108.33.

Transcat Stock Up 6.9%

The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 225.30 and a beta of 0.61. The stock has a 50 day moving average of $86.94 and a 200 day moving average of $82.43. The company has a quick ratio of 2.19, a current ratio of 2.57 and a debt-to-equity ratio of 0.38.

Transcat (NASDAQ:TRNS - Get Free Report) last announced its quarterly earnings data on Tuesday, November 3rd. The scientific and technical instruments company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.19. Transcat had a return on equity of 6.14% and a net margin of 1.26%. The firm had revenue of $97.09 million for the quarter, compared to analysts' expectations of $92.46 million. As a group, analysts expect that Transcat, Inc. will post 2.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Transcat

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. bought a new position in Transcat in the second quarter worth about $67,445,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Transcat during the second quarter valued at approximately $37,106,000. Wellington Management Group LLP bought a new position in shares of Transcat during the second quarter valued at approximately $29,409,000. Riverbridge Partners LLC raised its position in shares of Transcat by 8.4% during the 3rd quarter. Riverbridge Partners LLC now owns 219,452 shares of the scientific and technical instruments company's stock worth $19,404,000 after purchasing an additional 17,063 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Transcat by 3.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 262,033 shares of the scientific and technical instruments company's stock worth $19,244,000 after purchasing an additional 9,266 shares during the period. 98.34% of the stock is currently owned by institutional investors.

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.

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