Transcat (NASDAQ:TRNS) Issues Quarterly Earnings Results, Beats Expectations By $0.20 EPS

Transcat (NASDAQ:TRNS) issued its quarterly earnings results on Monday. 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, Zacks reports. The firm had revenue of $66.70 million during the quarter, compared to the consensus estimate of $69.35 million. Transcat had a return on equity of 9.23% and a net margin of 5.69%. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter last year, the company posted $0.38 EPS.

Transcat Stock Down 1.5 %

TRNS stock traded down $1.75 during midday trading on Wednesday, hitting $115.16. The stock had a trading volume of 8,160 shares, compared to its average volume of 42,411. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 73.53 and a beta of 0.68. The business has a 50-day moving average of $127.73 and a two-hundred day moving average of $115.77. Transcat has a 52-week low of $82.60 and a 52-week high of $147.12. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.14 and a quick ratio of 2.62.

Insider Buying and Selling

In related news, Director Charles P. Hadeed sold 1,358 shares of the company’s stock in a transaction 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 sale, the director now directly owns 21,320 shares of the company’s stock, valued at $2,771,600. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Charles P. Hadeed sold 1,358 shares of the company’s stock in a transaction 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 sale, the director now directly owns 21,320 shares of the company’s stock, valued at $2,771,600. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Lee D. Rudow sold 12,000 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $135.10, for a total value of $1,621,200.00. Following the completion of the sale, the chief executive officer now directly owns 91,692 shares in the company, valued at $12,387,589.20. The disclosure for this sale can be found here. Insiders have sold a total of 22,215 shares of company stock valued at $2,969,084 over the last ninety days. Company insiders own 4.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Oppenheimer boosted their target price on Transcat from $125.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, May 22nd. HC Wainwright reissued a “buy” rating and set a $156.00 target price on shares of Transcat in a research note on Tuesday. Northland Capmk cut Transcat from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 22nd. Finally, Northland Securities cut Transcat from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 22nd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $142.67.

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.