Transcat (NASDAQ:TRNS) Sees Strong Trading Volume

Shares of Transcat, Inc. (NASDAQ:TRNS) saw unusually-high trading volume on Monday . Approximately 67,449 shares were traded during mid-day trading, an increase of 61% from the previous session’s volume of 41,765 shares.The stock last traded at $139.54 and had previously closed at $140.00.

Wall Street Analyst Weigh In

TRNS has been the topic of a number of analyst reports. Northland Securities cut shares of Transcat from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 22nd. Oppenheimer upped their price target on shares of Transcat from $125.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 22nd. HC Wainwright upped their price target on shares of Transcat from $124.00 to $156.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. Finally, Northland Capmk cut shares of Transcat from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 22nd. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $142.67.

Transcat Trading Down 3.4 %

The stock has a 50-day simple moving average of $128.01 and a two-hundred day simple moving average of $115.37. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.62 and a current ratio of 3.14. The firm has a market cap of $1.24 billion, a PE ratio of 88.05 and a beta of 0.68.

Transcat (NASDAQ:TRNS) last released its quarterly earnings results on Monday, May 20th. The scientific and technical instruments company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.52 by $0.25. Transcat had a net margin of 5.26% and a return on equity of 9.50%. The firm had revenue of $70.91 million during the quarter, compared to analyst estimates of $68.76 million. As a group, sell-side analysts anticipate that Transcat, Inc. will post 1.99 EPS for the current year.

Insider Activity

In related news, CEO Lee D. Rudow sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $135.10, for a total transaction of $1,621,200.00. Following the completion of the transaction, the chief executive officer now directly owns 91,692 shares in the company, valued at approximately $12,387,589.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Lee D. Rudow sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $135.10, for a total transaction of $1,621,200.00. Following the completion of the transaction, the chief executive officer now directly owns 91,692 shares in the company, valued at approximately $12,387,589.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Lee D. Rudow sold 3,343 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $124.12, for a total value of $414,933.16. Following the completion of the transaction, the chief executive officer now owns 103,692 shares of the company’s stock, valued at $12,870,251.04. The disclosure for this sale can be found here. Insiders sold 22,215 shares of company stock valued at $2,969,084 in the last quarter. 4.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. First Horizon Advisors Inc. raised its holdings in Transcat by 26.4% during the 2nd quarter. First Horizon Advisors Inc. now owns 599 shares of the scientific and technical instruments company’s stock valued at $72,000 after buying an additional 125 shares during the period. Fifth Third Bancorp raised its holdings in Transcat by 95.8% during the 2nd quarter. Fifth Third Bancorp now owns 656 shares of the scientific and technical instruments company’s stock valued at $79,000 after buying an additional 321 shares during the period. Hamilton Wealth LLC purchased a new stake in Transcat during the 1st quarter valued at $212,000. Virtu Financial LLC purchased a new stake in Transcat during the 1st quarter valued at $224,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in Transcat by 13.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,347 shares of the scientific and technical instruments company’s stock valued at $262,000 after buying an additional 284 shares during the period. 98.34% of the stock is currently owned by institutional investors.

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.