Transcat (NASDAQ:TRNS) Reaches New 1-Year High at $147.12

Transcat, Inc. (NASDAQ:TRNS)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $147.12 and last traded at $146.02, with a volume of 10536 shares. The stock had previously closed at $143.10.

Analyst Ratings Changes

Several brokerages have recently commented on TRNS. HC Wainwright increased their price objective on Transcat from $124.00 to $156.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. Oppenheimer increased their price objective on Transcat from $125.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 22nd. Northland Securities downgraded Transcat from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 22nd. Finally, Northland Capmk downgraded Transcat from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 22nd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Transcat has a consensus rating of “Hold” and a consensus price target of $142.67.

Transcat Trading Up 2.2 %

The company has a market capitalization of $1.28 billion, a P/E ratio of 88.05 and a beta of 0.68. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.14 and a quick ratio of 2.62. The firm has a fifty day moving average price of $128.01 and a 200-day moving average price of $115.13.

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

Insider Buying and Selling at Transcat

In other Transcat news, CEO Lee D. Rudow sold 12,000 shares of the stock in a transaction 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 of the company’s stock, valued at $12,387,589.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Lee D. Rudow sold 12,000 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $135.10, for a total value of $1,621,200.00. Following the sale, the chief executive officer now owns 91,692 shares in the company, valued at $12,387,589.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Lee D. Rudow sold 3,343 shares of the stock in a transaction 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 sale, the chief executive officer now owns 103,692 shares in the company, valued at approximately $12,870,251.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,215 shares of company stock valued at $2,969,084. Company insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. First Horizon Advisors Inc. increased its holdings in shares of Transcat by 26.4% in the second quarter. First Horizon Advisors Inc. now owns 599 shares of the scientific and technical instruments company’s stock worth $72,000 after buying an additional 125 shares during the period. Fifth Third Bancorp grew its stake in shares of Transcat by 95.8% in the second quarter. Fifth Third Bancorp now owns 656 shares of the scientific and technical instruments company’s stock worth $79,000 after purchasing an additional 321 shares during the last quarter. Hamilton Wealth LLC bought a new stake in shares of Transcat in the first quarter worth about $212,000. Virtu Financial LLC bought a new stake in shares of Transcat in the first quarter worth about $224,000. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Transcat by 13.8% in the first 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 last quarter. Hedge funds and other 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.