Transcat, Inc. (NASDAQ:TRNS) Director Sells $176,540.00 in Stock

Transcat, Inc. (NASDAQ:TRNS) Director Charles P. Hadeed sold 1,358 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $130.00, for a total value of $176,540.00. Following the transaction, the director now directly owns 21,320 shares in the company, valued at $2,771,600. The sale was disclosed in a filing with the SEC, which is available through this link.

Transcat Price Performance

Shares of TRNS opened at $121.59 on Monday. The company has a market capitalization of $1.11 billion, a P/E ratio of 76.47 and a beta of 0.68. The business’s 50-day moving average is $119.12 and its two-hundred day moving average is $110.07. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.62 and a current ratio of 3.14. Transcat, Inc. has a fifty-two week low of $81.26 and a fifty-two week high of $147.00.

Transcat (NASDAQ:TRNS) last posted its earnings results on Monday, May 20th. The scientific and technical instruments company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.52 by $0.25. Transcat had a return on equity of 9.50% and a net margin of 5.26%. The firm had revenue of $70.91 million for the quarter, compared to analyst estimates of $68.76 million. Research analysts predict that Transcat, Inc. will post 2.01 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on TRNS shares. HC Wainwright boosted their price target on Transcat from $124.00 to $156.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. Oppenheimer upped their target price on Transcat from $125.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, May 22nd. Northland Securities lowered Transcat from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 22nd. Finally, Northland Capmk downgraded Transcat from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 22nd. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Transcat presently has a consensus rating of “Hold” and an average target price of $142.67.

Hedge Funds Weigh In On Transcat

Several institutional investors have recently made changes to their positions in TRNS. Wasatch Advisors LP boosted its holdings in Transcat by 13.3% during the fourth quarter. Wasatch Advisors LP now owns 701,099 shares of the scientific and technical instruments company’s stock worth $76,651,000 after buying an additional 82,458 shares in the last quarter. Broadcrest Asset Management LLC boosted its stake in shares of Transcat by 17.6% during the 4th quarter. Broadcrest Asset Management LLC now owns 400,000 shares of the scientific and technical instruments company’s stock worth $43,732,000 after acquiring an additional 60,000 shares in the last quarter. Comerica Bank acquired a new stake in shares of Transcat during the 3rd quarter valued at about $5,221,000. Vanguard Group Inc. increased its stake in shares of Transcat by 13.3% in 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 purchasing an additional 49,828 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Transcat by 196.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 59,482 shares of the scientific and technical instruments company’s stock worth $5,827,000 after purchasing an additional 39,432 shares during the period. 98.34% of the stock is owned by hedge funds and other institutional investors.

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.