Insider Selling: Transcat (NASDAQ:TRNS) Director Sells 504 Shares

Transcat, Inc. (NASDAQ:TRNS) Director Christopher Gillette sold 504 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $94.23, for a total value of $47,491.92. Following the sale, the director directly owned 200 shares of the company’s stock, valued at $18,846. This represents a 71.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Transcat Stock Up 2.5%

Shares of TRNS stock traded up $2.37 during trading hours on Wednesday, reaching $97.76. The company had a trading volume of 170,837 shares, compared to its average volume of 152,573. Transcat, Inc. has a 12 month low of $50.23 and a 12 month high of $98.36. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.49 and a quick ratio of 2.11. The business has a fifty day simple moving average of $89.75 and a 200-day simple moving average of $80.14. The company has a market cap of $915.03 million, a price-to-earnings ratio of 264.22 and a beta of 0.68.

Transcat (NASDAQ:TRNS) last announced its quarterly earnings results on Tuesday, August 4th. The scientific and technical instruments company reported $0.51 earnings per share (EPS) for the quarter, topping 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 expect that Transcat, Inc. will post 1.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TRNS has been the topic of a number of recent analyst reports. Zacks Research raised shares of Transcat from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Weiss Ratings upgraded shares of Transcat from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, May 28th. Northland Securities cut shares of Transcat from an “outperform” rating to a “market perform” rating and set a $95.00 target price on the stock. in a research report on Wednesday, August 5th. Finally, Wall Street Zen upgraded Transcat from a “sell” rating to a “hold” rating in a research note on Sunday, June 28th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $105.50.

Institutional Trading of Transcat

Several hedge funds have recently added to or reduced their stakes in TRNS. BlackRock Inc. bought a new position in shares of Transcat during the 2nd quarter valued at approximately $67,445,000. Vanguard Group Inc. lifted its stake in Transcat by 0.4% in the third quarter. Vanguard Group Inc. now owns 530,771 shares of the scientific and technical instruments company’s stock valued at $38,852,000 after purchasing an additional 2,041 shares during the last quarter. Royce & Associates LP grew its holdings in Transcat by 15.3% during the fourth quarter. Royce & Associates LP now owns 390,546 shares of the scientific and technical instruments company’s stock valued at $22,156,000 after purchasing an additional 51,774 shares during the period. Dimensional Fund Advisors LP increased its position in Transcat by 3.7% in the first quarter. Dimensional Fund Advisors LP now owns 262,033 shares of the scientific and technical instruments company’s stock worth $19,244,000 after buying an additional 9,266 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Transcat by 677.7% in the fourth quarter. Wellington Management Group LLP now owns 248,539 shares of the scientific and technical instruments company’s stock worth $14,100,000 after buying an additional 216,579 shares during the last quarter. Institutional investors own 98.34% of the company’s stock.

About Transcat

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.