Oppenheimer Reaffirms “Outperform” Rating for Transcat (NASDAQ:TRNS)

Oppenheimer restated their outperform rating on shares of Transcat (NASDAQ:TRNS) in a report issued on Thursday, Benzinga reports. The brokerage currently has a $125.00 price target on the scientific and technical instruments company’s stock, up from their prior price target of $120.00.

TRNS has been the topic of a number of other reports. HC Wainwright reissued a buy rating and issued a $124.00 target price on shares of Transcat in a research note on Tuesday. TheStreet raised Transcat from a c+ rating to a b rating in a research note on Wednesday, January 31st.

Transcat Price Performance

Shares of TRNS stock opened at $105.25 on Thursday. The stock has a market cap of $929.36 million, a price-to-earnings ratio of 80.96 and a beta of 0.59. The business’s fifty day moving average is $108.59 and its 200 day moving average is $101.91. Transcat has a twelve month low of $74.89 and a twelve month high of $115.41. 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 (NASDAQ:TRNS) last issued its quarterly earnings results on Monday, January 29th. The scientific and technical instruments company reported $0.38 earnings per share 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 company had revenue of $65.17 million for the quarter, compared to analysts’ expectations of $63.36 million. Research analysts expect that Transcat will post 1.33 EPS for the current fiscal year.

Insider Activity at Transcat

In related news, CEO Lee D. Rudow sold 5,000 shares of the 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 sale, the chief executive officer now directly owns 108,478 shares of the company’s stock, valued at $12,073,601.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Lee D. Rudow sold 5,000 shares of the 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 sale, the chief executive officer now directly owns 108,478 shares of the company’s stock, valued at $12,073,601.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Charles P. Hadeed sold 700 shares of the 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 sale, the director now directly owns 22,678 shares in the company, valued at $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 ninety days. Insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. US Bancorp DE lifted its holdings in Transcat by 137.9% in the first quarter. US Bancorp DE now owns 345 shares of the scientific and technical instruments company’s stock valued at $28,000 after acquiring an additional 200 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Transcat by 345.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,234 shares of the scientific and technical instruments company’s stock worth $135,000 after buying an additional 957 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of Transcat by 162.3% in the second quarter. BNP Paribas Arbitrage SA now owns 1,626 shares of the scientific and technical instruments company’s stock worth $92,000 after buying an additional 1,006 shares during the period. Barclays PLC raised its stake in shares of Transcat by 533.1% in the fourth quarter. Barclays PLC now owns 1,912 shares of the scientific and technical instruments company’s stock worth $135,000 after buying an additional 1,610 shares during the period. Finally, Price T Rowe Associates Inc. MD bought a new position in shares of Transcat in the fourth quarter worth about $226,000. Institutional investors own 98.34% of the company’s stock.

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.