Transcat (NASDAQ:TRNS) Earns Buy Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Transcat (NASDAQ:TRNS) in a research note published on Tuesday morning, Benzinga reports. The firm currently has a $124.00 price target on the scientific and technical instruments company’s stock.

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

Transcat Stock Down 1.4 %

Shares of Transcat stock opened at $108.55 on Tuesday. The company has a quick ratio of 2.81, a current ratio of 3.37 and a debt-to-equity ratio of 0.01. Transcat has a 12-month low of $74.89 and a 12-month high of $115.41. The firm has a market capitalization of $958.50 million, a PE ratio of 83.50 and a beta of 0.59. The stock’s fifty day moving average is $108.78 and its 200-day moving average is $101.86.

Transcat (NASDAQ:TRNS) last posted its quarterly earnings data on Monday, January 29th. The scientific and technical instruments company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.03. Transcat had a return on equity of 9.32% and a net margin of 4.16%. The firm had revenue of $65.17 million for the quarter, compared to the consensus estimate of $63.36 million. Equities analysts anticipate that Transcat will post 1.36 earnings per share for the current year.

Insiders Place Their Bets

In other Transcat news, CEO Lee D. Rudow sold 2,373 shares of the stock in a transaction that occurred on Saturday, March 30th. The shares were sold at an average price of $111.43, for a total value of $264,423.39. Following the completion of the sale, the chief executive officer now owns 103,688 shares in the company, valued at approximately $11,553,953.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Transcat news, Director Charles P. Hadeed sold 700 shares of the stock in a transaction that occurred 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 owns 22,678 shares in the company, valued at approximately $2,562,614. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Lee D. Rudow sold 2,373 shares of the stock in a transaction that occurred on Saturday, March 30th. The stock was sold at an average price of $111.43, for a total transaction of $264,423.39. Following the completion of the sale, the chief executive officer now owns 103,688 shares of the company’s stock, valued at approximately $11,553,953.84. The disclosure for this sale can be found here. Insiders sold a total of 8,073 shares of company stock worth $900,023 in the last quarter. 4.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Transcat

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TRNS. Wasatch Advisors LP increased its stake in shares of Transcat by 13.3% during the 4th quarter. Wasatch Advisors LP now owns 701,099 shares of the scientific and technical instruments company’s stock worth $76,651,000 after purchasing an additional 82,458 shares during the last quarter. Broadcrest Asset Management LLC increased its stake in shares of Transcat by 17.6% during the 4th quarter. Broadcrest Asset Management LLC now owns 400,000 shares of the scientific and technical instruments company’s stock worth $43,732,000 after purchasing an additional 60,000 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Transcat by 184.9% during the 1st quarter. Bank of America Corp DE now owns 83,687 shares of the scientific and technical instruments company’s stock worth $6,790,000 after purchasing an additional 54,314 shares during the last quarter. Comerica Bank acquired a new position in shares of Transcat during the 3rd quarter worth $5,221,000. Finally, Vanguard Group Inc. increased its stake in shares of Transcat by 12.3% during the 4th quarter. Vanguard Group Inc. now owns 477,799 shares of the scientific and technical instruments company’s stock worth $52,238,000 after purchasing an additional 52,421 shares during the last quarter. Hedge funds and other institutional investors 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.