Transcat (NASDAQ:TRNS) Downgraded by Northland Securities to Market Perform

Transcat (NASDAQ:TRNSGet Free Report) was downgraded by Northland Securities from an “outperform” rating to a “market perform” rating in a research report issued on Wednesday, Marketbeat.com reports.

Several other brokerages have also weighed in on TRNS. TheStreet raised Transcat from a “c+” rating to a “b” rating in a research report on Wednesday, January 31st. Oppenheimer reaffirmed an “outperform” rating and issued a $125.00 target price (up from $120.00) on shares of Transcat in a research report on Thursday, April 18th. Finally, HC Wainwright upped their price target on Transcat from $124.00 to $156.00 and gave the stock a “buy” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $134.50.

Read Our Latest Analysis on TRNS

Transcat Stock Performance

Shares of TRNS stock opened at $134.47 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.37 and a quick ratio of 2.81. Transcat has a fifty-two week low of $81.26 and a fifty-two week high of $147.00. The stock’s 50-day moving average is $113.66 and its two-hundred day moving average is $106.14. The firm has a market cap of $1.19 billion, a P/E ratio of 84.57 and a beta of 0.61.

Insider Transactions at Transcat

In other news, CEO Lee D. Rudow sold 3,343 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was 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 in the company, valued at approximately $12,870,251.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Lee D. Rudow sold 3,343 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was 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 in the company, valued at approximately $12,870,251.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Lee D. Rudow sold 2,373 shares of the stock in a transaction that occurred on Saturday, March 30th. The shares were sold at an average price of $111.43, for a total value of $264,423.39. Following the sale, the chief executive officer now owns 103,688 shares of the company’s stock, valued at approximately $11,553,953.84. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Transcat

Several hedge funds have recently added to or reduced their stakes in TRNS. State Board of Administration of Florida Retirement System bought a new stake in Transcat during the 3rd quarter valued at approximately $207,000. Arizona State Retirement System bought a new stake in Transcat during the 3rd quarter valued at approximately $213,000. Virtu Financial LLC bought a new stake in shares of Transcat in the 1st quarter worth approximately $224,000. Quantbot Technologies LP lifted its position in shares of Transcat by 118.2% in the 3rd quarter. Quantbot Technologies LP now owns 2,370 shares of the scientific and technical instruments company’s stock worth $232,000 after acquiring an additional 1,284 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Transcat by 13.8% in 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 acquiring an additional 284 shares during the period. Institutional investors own 98.34% of the company’s stock.

About Transcat

(Get Free Report)

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.

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