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

Transcat (NASDAQ:TRNS) had its price objective reduced by equities researchers at Craig Hallum from $150.00 to $138.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the scientific and technical instruments company’s stock. Craig Hallum’s target price suggests a potential upside of 17.24% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Oppenheimer lifted their target price on Transcat from $125.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, May 22nd. Northland Capmk downgraded Transcat from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 22nd. Northland Securities cut shares of Transcat from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 22nd. Finally, HC Wainwright reissued a “buy” rating and set a $156.00 price target on shares of Transcat in a report on Tuesday. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Transcat presently has a consensus rating of “Moderate Buy” and a consensus target price of $151.33.

Transcat Price Performance

NASDAQ TRNS traded up $0.80 during trading hours on Wednesday, reaching $117.71. The company’s stock had a trading volume of 27,189 shares, compared to its average volume of 42,542. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 74.03 and a beta of 0.68. Transcat has a 1 year low of $82.60 and a 1 year high of $147.12. The firm’s 50-day moving average price is $127.73 and its 200-day moving average price is $115.77. The company has a quick ratio of 2.62, a current ratio of 3.14 and a debt-to-equity ratio of 0.01.

Transcat (NASDAQ:TRNS) last announced its quarterly earnings data on Monday, July 29th. The scientific and technical instruments company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.28 by $0.20. Transcat had a return on equity of 9.23% and a net margin of 5.69%. The company had revenue of $66.70 million for the quarter, compared to the consensus estimate of $69.35 million. During the same quarter in the prior year, the company posted $0.38 EPS. Transcat’s quarterly revenue was up 10.1% on a year-over-year basis. On average, equities research analysts predict that Transcat will post 1.99 EPS for the current fiscal year.

Insider Buying and Selling at Transcat

In related news, CEO Lee D. Rudow sold 3,343 shares of the firm’s 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 transaction, 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 document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Lee D. Rudow sold 3,343 shares of the business’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 transaction, the chief executive officer now directly owns 103,692 shares in the company, valued at $12,870,251.04. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles P. Hadeed sold 1,358 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $130.00, for a total value of $176,540.00. Following the transaction, the director now owns 21,320 shares in the company, valued at approximately $2,771,600. The disclosure for this sale can be found here. Insiders sold 22,215 shares of company stock valued at $2,969,084 in the last 90 days. Company insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Transcat

A number of large investors have recently made changes to their positions in TRNS. Vanguard Group Inc. lifted its position in shares of Transcat by 13.3% during the 3rd quarter. Vanguard Group Inc. now owns 425,378 shares of the scientific and technical instruments company’s stock valued at $41,674,000 after acquiring an additional 49,828 shares during the period. Raymond James & Associates grew its stake in Transcat by 6.5% during the fourth quarter. Raymond James & Associates now owns 6,384 shares of the scientific and technical instruments company’s stock worth $698,000 after buying an additional 387 shares during the period. Arizona State Retirement System increased its position in shares of Transcat by 11.9% in the fourth quarter. Arizona State Retirement System now owns 2,434 shares of the scientific and technical instruments company’s stock worth $266,000 after acquiring an additional 258 shares in the last quarter. Conestoga Capital Advisors LLC boosted its stake in shares of Transcat by 0.6% in the fourth quarter. Conestoga Capital Advisors LLC now owns 762,861 shares of the scientific and technical instruments company’s stock valued at $83,404,000 after purchasing an additional 4,805 shares during the period. Finally, Calamos Advisors LLC grew its holdings in Transcat by 7.3% during the 4th quarter. Calamos Advisors LLC now owns 9,281 shares of the scientific and technical instruments company’s stock valued at $1,015,000 after purchasing an additional 634 shares in 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.