Transcat (NASDAQ:TRNS) Stock Price Up 7.7% After Insider Buying Activity

Transcat, Inc. (NASDAQ:TRNS) was up 7.7% during mid-day trading on Tuesday following insider buying activity. The company traded as high as $96.67 and last traded at $97.89. 23,101 shares traded hands during 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 that occurred on Thursday, August 6th. The shares were purchased at an average price of $93.97 per share, with a total value of $98,668.50. Following the completion of the acquisition, the director directly owned 1,480 shares in the company, valued at $139,075.60. This represents a 244.19% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Analyst Upgrades and Downgrades

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

Transcat Price Performance

The stock has a fifty day moving average of $89.65 and a two-hundred day moving average of $79.92. The stock has a market cap of $916.25 million, a price-to-earnings 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) last issued its earnings results on Tuesday, August 4th. The scientific and technical instruments company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.38 by $0.13. Transcat had a net margin of 0.99% and a return on equity of 5.56%. The company had revenue of $92.95 million for the quarter, compared to analyst estimates of $86.55 million. On average, equities research analysts anticipate that Transcat, Inc. will post 1.74 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Deutsche Bank AG increased its holdings in Transcat by 4.6% in the fourth quarter. Deutsche Bank AG now owns 7,053 shares of the scientific and technical instruments company’s stock valued at $400,000 after buying an additional 312 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Transcat by 6.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,462 shares of the scientific and technical instruments company’s stock worth $407,000 after acquiring an additional 325 shares during the period. Swiss National Bank increased its stake in Transcat by 2.2% in the 4th quarter. Swiss National Bank now owns 18,315 shares of the scientific and technical instruments company’s stock valued at $1,039,000 after purchasing an additional 400 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Transcat by 8.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,265 shares of the scientific and technical instruments company’s stock valued at $299,000 after purchasing an additional 432 shares in the last quarter. Finally, Diversified Trust Co raised its holdings in Transcat by 8.8% during the first quarter. Diversified Trust Co now owns 5,495 shares of the scientific and technical instruments company’s stock worth $404,000 after purchasing an additional 444 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

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.