Transcat, Inc. (NASDAQ:TRNS) Short Interest Update

Transcat, Inc. (NASDAQ:TRNS) was the recipient of a large decrease in short interest in the month of May. As of May 31st, there was short interest totalling 159,800 shares, a decrease of 23.5% from the May 15th total of 208,800 shares. Based on an average daily volume of 42,000 shares, the short-interest ratio is presently 3.8 days.

Insider Buying and Selling

In related news, Director Charles P. Hadeed sold 1,358 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $130.00, for a total transaction of $176,540.00. Following the transaction, the director now owns 21,320 shares of the company’s stock, valued at $2,771,600. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Transcat news, insider James M. Jenkins sold 5,514 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $137.18, for a total value of $756,410.52. Following the transaction, the insider now directly owns 1,619 shares of the company’s stock, valued at approximately $222,094.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles P. Hadeed sold 1,358 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $130.00, for a total transaction of $176,540.00. Following the completion of the sale, the director now owns 21,320 shares of the company’s stock, valued at approximately $2,771,600. The disclosure for this sale can be found here. Insiders sold a total of 24,588 shares of company stock worth $3,233,507 in the last 90 days. Company insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TRNS. Hamilton Wealth LLC acquired a new position in shares of Transcat in the first quarter valued at approximately $212,000. Virtu Financial LLC acquired a new position in Transcat in the 1st quarter valued at $224,000. State Board of Administration of Florida Retirement System acquired a new position in Transcat in the 3rd quarter valued at $207,000. Price T Rowe Associates Inc. MD lifted its stake in shares of 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 worth $262,000 after purchasing an additional 284 shares during the period. Finally, Arizona State Retirement System boosted its holdings in shares of Transcat by 11.9% during the fourth quarter. Arizona State Retirement System now owns 2,434 shares of the scientific and technical instruments company’s stock worth $266,000 after purchasing an additional 258 shares during the last quarter. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Transcat Price Performance

Shares of TRNS traded down $1.41 during mid-day trading on Friday, reaching $121.59. 28,064 shares of the company’s stock were exchanged, compared to its average volume of 50,162. The company has a 50-day simple moving average of $119.12 and a two-hundred day simple moving average of $109.98. The company has a market cap of $1.11 billion, a price-to-earnings ratio of 76.47 and a beta of 0.68. The company has a quick ratio of 2.62, a current ratio of 3.14 and a debt-to-equity ratio of 0.01. Transcat has a 52-week low of $81.26 and a 52-week high of $147.00.

Transcat (NASDAQ:TRNS) last released its quarterly earnings results on Monday, May 20th. The scientific and technical instruments company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.25. The company had revenue of $70.91 million during the quarter, compared to analysts’ expectations of $68.76 million. Transcat had a return on equity of 9.50% and a net margin of 5.26%. On average, sell-side analysts predict that Transcat will post 2.01 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on TRNS shares. Northland Securities lowered Transcat from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 22nd. Northland Capmk cut Transcat from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. Oppenheimer boosted their target price on shares of Transcat from $125.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 22nd. Finally, HC Wainwright boosted their target price on shares of Transcat from $124.00 to $156.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Transcat currently has a consensus rating of “Hold” and a consensus price target of $142.67.

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.