Transcat (NASDAQ:TRNS) Trading Up 7.7% on Insider Buying Activity

Key Points

• Transcat shares rose 7.7% to $97.89 after director Craig D. Cairns purchased 1,050 shares for approximately $98,669, more than tripling his direct stake.
• The company exceeded quarterly expectations, reporting EPS of $0.51 versus the $0.38 consensus and revenue of $92.95 million compared with estimates of $86.55 million.
• Analyst sentiment remains mixed but centers on a “Hold” rating, with a $105.50 consensus price target; institutional investors own a substantial 98.34% of Transcat’s outstanding shares.

Transcat, Inc. (NASDAQ:TRNS - Get Free Report)'s share price was up 7.7% during trading on Tuesday following insider buying activity. The company traded as high as $96.67 and last traded at $97.89. Approximately 23,101 shares were traded during mid-day trading, a decline of 85% from the average session volume of 151,793 shares. The stock had previously closed at $90.85.

Specifically, Director Craig D. Cairns purchased 1,050 shares of the stock in a transaction on Thursday, August 6th. The stock was bought at an average price of $93.97 per share, for a total transaction of $98,668.50. Following the acquisition, the director directly owned 1,480 shares of the company's stock, valued at approximately $139,075.60. The trade was a 244.19% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on TRNS shares. Wall Street Zen raised shares of Transcat from a "sell" rating to a "hold" rating in a research report on Sunday, June 28th. Weiss Ratings upgraded Transcat from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, May 28th. Zacks Research raised Transcat from a "strong sell" rating to a "hold" rating in a report on Friday, May 15th. Finally, Northland Securities downgraded Transcat from an "outperform" rating to a "market perform" rating and set a $95.00 price objective on the stock. in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Transcat presently has a consensus rating of "Hold" and an average price target of $105.50.

Transcat Stock Performance

The firm has a fifty day simple moving average of $89.65 and a 200-day simple moving average of $79.92. The company has a market cap of $916.25 million, a PE ratio of 264.56 and a beta of 0.68. The company has a quick ratio of 2.11, a current ratio of 2.49 and a debt-to-equity ratio of 0.36.

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

Institutional Investors Weigh In On Transcat

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Persistent Asset Partners Ltd acquired a new position in shares of Transcat in the 2nd quarter valued at $52,000. Lazard Asset Management LLC acquired a new stake in Transcat during the 2nd quarter worth $54,000. Tower Research Capital LLC TRC boosted its stake in Transcat by 245.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,123 shares of the scientific and technical instruments company's stock worth $97,000 after purchasing an additional 798 shares during the period. CM Wealth Advisors LLC purchased a new position in Transcat during the 2nd quarter worth $339,000. Finally, Central Pacific Bank Trust Division increased its stake in Transcat by 45.0% in the second quarter. Central Pacific Bank Trust Division now owns 3,817 shares of the scientific and technical instruments company's stock valued at $354,000 after purchasing an additional 1,184 shares during the period. Hedge funds and other institutional investors own 98.34% of the company's stock.

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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