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

Transcat (NASDAQ:TRNS) had its price objective decreased by equities research analysts at Craig Hallum from $150.00 to $138.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the scientific and technical instruments company’s stock. Craig Hallum’s price target indicates a potential upside of 17.24% from the company’s previous close.

Several other research analysts have also recently weighed in on the stock. Northland Capmk cut shares of Transcat from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 22nd. Oppenheimer upped 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. HC Wainwright restated a “buy” rating and set a $156.00 price target on shares of Transcat in a research report on Tuesday. Finally, Northland Securities lowered shares of Transcat from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 22nd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Transcat presently has a consensus rating of “Moderate Buy” and an average price target of $151.33.

Transcat Stock Up 0.7 %

TRNS stock traded up $0.80 during mid-day trading on Wednesday, reaching $117.71. 27,189 shares of the company traded hands, compared to its average volume of 42,542. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 74.03 and a beta of 0.68. 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 has a fifty-two week low of $82.60 and a fifty-two week 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.

Transcat (NASDAQ:TRNS) last issued its earnings results 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. The business had revenue of $66.70 million for 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 business’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.38 EPS. As a group, equities research analysts predict that Transcat will post 1.99 EPS for the current fiscal year.

Insider Buying and Selling at Transcat

In other news, CEO Lee D. Rudow sold 3,343 shares of the 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 sale, the chief executive officer now owns 103,692 shares in the company, valued at $12,870,251.04. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Lee D. Rudow sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $135.10, for a total value of $1,621,200.00. Following the sale, the chief executive officer now owns 91,692 shares in the company, valued at $12,387,589.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 completion of the sale, the chief executive officer now 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 sold 22,215 shares of company stock valued at $2,969,084. Corporate insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Transcat

Several institutional investors and hedge funds have recently added to or reduced their stakes in TRNS. First Horizon Advisors Inc. boosted its stake in shares of Transcat by 26.4% during the 2nd quarter. First Horizon Advisors Inc. now owns 599 shares of the scientific and technical instruments company’s stock worth $72,000 after acquiring an additional 125 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of Transcat by 95.8% during the 2nd quarter. Fifth Third Bancorp now owns 656 shares of the scientific and technical instruments company’s stock worth $79,000 after acquiring an additional 321 shares during the last quarter. Hamilton Wealth LLC purchased a new position in shares of Transcat during the 1st quarter worth $212,000. Virtu Financial LLC purchased a new position in shares of Transcat during the 1st quarter worth $224,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of 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 worth $262,000 after acquiring an additional 284 shares during 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.