Transcat (NASDAQ:TRNS) Price Target Lowered to $138.00 at Craig Hallum

Transcat (NASDAQ:TRNS) had its target price decreased by Craig Hallum from $150.00 to $138.00 in a research note released on Wednesday morning, Benzinga reports. Craig Hallum currently has a buy rating on the scientific and technical instruments company’s stock.

A number of other equities research analysts have also issued reports on TRNS. Northland Capmk lowered shares of Transcat from a strong-buy rating to a hold rating in a report on Wednesday, May 22nd. Northland Securities lowered Transcat from an outperform rating to a market perform rating in a research report on Wednesday, May 22nd. HC Wainwright reissued a buy rating and issued a $156.00 price target on shares of Transcat in a research report on Tuesday, July 30th. Finally, 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. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $151.33.

Transcat Stock Down 3.1 %

Shares of NASDAQ:TRNS opened at $107.60 on Wednesday. The firm has a fifty day moving average of $126.19 and a 200 day moving average of $115.93. Transcat has a 52-week low of $84.45 and a 52-week high of $147.12. 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 capitalization of $983.46 million, a PE ratio of 67.67 and a beta of 0.68.

Transcat (NASDAQ:TRNS) last announced 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 analysts’ consensus estimates of $0.28 by $0.20. Transcat had a net margin of 5.69% and a return on equity of 9.23%. The company had revenue of $66.70 million during the quarter, compared to analysts’ expectations of $69.35 million. During the same quarter in the prior year, the company earned $0.38 EPS. The firm’s revenue was up 10.1% on a year-over-year basis. As a group, research analysts anticipate that Transcat will post 2.06 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Lee D. Rudow sold 3,343 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $124.12, for a total transaction of $414,933.16. Following the completion of the sale, the chief executive officer now owns 103,692 shares of the company’s stock, valued at approximately $12,870,251.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Transcat news, insider James M. Jenkins sold 5,514 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were 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 in the company, valued at approximately $222,094.42. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Lee D. Rudow sold 3,343 shares of Transcat stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $124.12, for a total transaction of $414,933.16. Following the transaction, the chief executive officer now directly 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 quarter, insiders have sold 22,215 shares of company stock worth $2,969,084. 4.20% of the stock is owned by insiders.

Institutional Trading of Transcat

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Arkadios Wealth Advisors increased its stake in shares of Transcat by 1.8% in the second quarter. Arkadios Wealth Advisors now owns 4,411 shares of the scientific and technical instruments company’s stock worth $528,000 after purchasing an additional 76 shares in the last quarter. Rice Hall James & Associates LLC increased its stake in shares of Transcat by 0.4% in the first quarter. Rice Hall James & Associates LLC now owns 27,472 shares of the scientific and technical instruments company’s stock worth $3,061,000 after purchasing an additional 96 shares in the last quarter. First Horizon Advisors Inc. increased its stake 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 purchasing an additional 125 shares in the last quarter. Swiss National Bank increased its stake in shares of Transcat by 1.2% in the first quarter. Swiss National Bank now owns 17,415 shares of the scientific and technical instruments company’s stock worth $1,941,000 after purchasing an additional 200 shares in the last quarter. Finally, Ellsworth Advisors LLC increased its stake in shares of Transcat by 5.4% in the second quarter. Ellsworth Advisors LLC now owns 4,828 shares of the scientific and technical instruments company’s stock worth $578,000 after purchasing an additional 247 shares in the last quarter. 98.34% of the stock is owned by hedge funds and other 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.