HC Wainwright Reiterates Buy Rating for Transcat (NASDAQ:TRNS)

Transcat (NASDAQ:TRNS)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a report issued on Tuesday, Benzinga reports. They currently have a $124.00 target price on the scientific and technical instruments company’s stock. HC Wainwright’s price target would suggest a potential upside of 18.42% from the company’s previous close. HC Wainwright also issued estimates for Transcat’s Q4 2024 earnings at $0.53 EPS and FY2024 earnings at $1.35 EPS.

Separately, TheStreet raised Transcat from a “c+” rating to a “b” rating in a research report on Wednesday, January 31st.

Transcat Trading Down 3.5 %

Shares of NASDAQ:TRNS opened at $104.71 on Tuesday. The company has a market capitalization of $924.59 million, a P/E ratio of 80.55 and a beta of 0.59. Transcat has a 1 year low of $74.89 and a 1 year high of $115.41. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.37 and a quick ratio of 2.81. The business’s 50 day simple moving average is $108.70 and its 200 day simple moving average is $101.88.

Transcat (NASDAQ:TRNS) last issued its quarterly earnings results on Monday, January 29th. The scientific and technical instruments company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. The business had revenue of $65.17 million for the quarter, compared to the consensus estimate of $63.36 million. Transcat had a return on equity of 9.32% and a net margin of 4.16%. On average, research analysts anticipate that Transcat will post 1.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other Transcat news, Director Charles P. Hadeed sold 700 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $113.00, for a total transaction of $79,100.00. Following the completion of the sale, the director now directly owns 22,678 shares in the company, valued at approximately $2,562,614. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Transcat news, Director Charles P. Hadeed sold 700 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $113.00, for a total transaction of $79,100.00. Following the completion of the sale, the director now directly owns 22,678 shares of the company’s stock, valued at approximately $2,562,614. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lee D. Rudow sold 2,373 shares of the business’s stock in a transaction that occurred on Saturday, March 30th. The stock was sold at an average price of $111.43, for a total value of $264,423.39. Following the completion of the transaction, the chief executive officer now owns 103,688 shares in the company, valued at approximately $11,553,953.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,073 shares of company stock worth $900,023. Company insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Transcat

Several institutional investors have recently made changes to their positions in TRNS. Advisor Group Holdings Inc. increased its holdings in shares of Transcat by 95.5% in the first quarter. Advisor Group Holdings Inc. now owns 5,107 shares of the scientific and technical instruments company’s stock worth $414,000 after purchasing an additional 2,495 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Transcat by 2.8% during the first quarter. Bank of New York Mellon Corp now owns 35,379 shares of the scientific and technical instruments company’s stock valued at $2,871,000 after buying an additional 948 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Transcat by 137.9% during the first quarter. US Bancorp DE now owns 345 shares of the scientific and technical instruments company’s stock worth $28,000 after purchasing an additional 200 shares during the period. MetLife Investment Management LLC boosted its holdings in shares of Transcat by 41.3% during the first quarter. MetLife Investment Management LLC now owns 4,039 shares of the scientific and technical instruments company’s stock worth $328,000 after purchasing an additional 1,181 shares during the period. Finally, Rhumbline Advisers boosted its holdings in shares of Transcat by 16.1% during the first quarter. Rhumbline Advisers now owns 6,411 shares of the scientific and technical instruments company’s stock worth $520,000 after purchasing an additional 890 shares during the period. 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.