Transcat (NASDAQ:TRNS) Shares Gap Down to $135.19

Transcat, Inc. (NASDAQ:TRNS) gapped down before the market opened on Tuesday . The stock had previously closed at $135.19, but opened at $130.00. Transcat shares last traded at $123.00, with a volume of 3,690 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TRNS. Northland Capmk downgraded shares of Transcat from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. Craig Hallum reduced their price target on shares of Transcat from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Wednesday. HC Wainwright reissued a “buy” rating and set a $156.00 price target on shares of Transcat in a research report on Tuesday. Northland Securities downgraded shares of Transcat from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 22nd. Finally, Oppenheimer raised their price target on shares of Transcat from $125.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, May 22nd. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Transcat presently has an average rating of “Moderate Buy” and an average price target of $151.33.

Transcat Stock Performance

The stock has a market capitalization of $1.01 billion, a P/E ratio of 69.84 and a beta of 0.68. The business’s fifty day moving average price is $126.72 and its two-hundred day moving average price is $115.73. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.62 and a current ratio of 3.14.

Transcat (NASDAQ:TRNS) last released its quarterly earnings data on Monday, July 29th. The scientific and technical instruments company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.20. The company had revenue of $66.70 million during the quarter, compared to analysts’ expectations of $69.35 million. Transcat had a net margin of 5.69% and a return on equity of 9.23%. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.38 EPS. As a group, sell-side analysts forecast that Transcat, Inc. will post 1.99 earnings per share for the current year.

Insider Activity at Transcat

In related news, Director Charles P. Hadeed sold 1,358 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were 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 $2,771,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Charles P. Hadeed sold 1,358 shares of Transcat stock in a transaction on Wednesday, June 12th. The shares were 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 directly owns 21,320 shares in the company, valued at $2,771,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider James M. Jenkins sold 5,514 shares of Transcat stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $137.18, for a total transaction of $756,410.52. Following the sale, the insider now owns 1,619 shares of the company’s stock, valued at $222,094.42. The disclosure for this sale can be found here. Insiders sold 22,215 shares of company stock valued at $2,969,084 over the last 90 days. 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. First Horizon Advisors Inc. increased its stake in shares of Transcat by 26.4% during the second quarter. First Horizon Advisors Inc. now owns 599 shares of the scientific and technical instruments company’s stock worth $72,000 after purchasing an additional 125 shares in the last quarter. Fifth Third Bancorp grew its stake 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 acquiring an additional 321 shares in the last quarter. Hamilton Wealth LLC purchased a new stake in Transcat during the 1st quarter valued at about $212,000. Virtu Financial LLC purchased a new stake in Transcat during the 1st quarter valued at about $224,000. Finally, Price T Rowe Associates Inc. MD grew its stake 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 acquiring an additional 284 shares in the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

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.