Transcat (NASDAQ:TRNS) Issues Quarterly Earnings Results

Transcat (NASDAQ:TRNS) announced its earnings results on Monday. The scientific and technical instruments company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.20, Zacks reports. 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 analyst estimates of $69.35 million. During the same quarter last year, the company earned $0.38 earnings per share. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year.

Transcat Price Performance

Shares of Transcat stock traded down $4.06 during midday trading on Thursday, hitting $111.18. 20,662 shares of the company traded hands, compared to its average volume of 43,091. The firm’s fifty day moving average price is $127.19 and its 200-day moving average price is $115.77. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 72.48 and a beta of 0.68. 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 has a 12 month low of $84.45 and a 12 month high of $147.12.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Northland Capmk downgraded shares of Transcat from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. HC Wainwright reiterated a “buy” rating and set a $156.00 target price on shares of Transcat in a research report on Tuesday. Oppenheimer raised their price target on Transcat from $125.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 22nd. Northland Securities downgraded shares of Transcat from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 22nd. Finally, Craig Hallum dropped their target price on shares of Transcat from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Transcat presently has a consensus rating of “Moderate Buy” and a consensus price target of $151.33.

Insider Activity

In other Transcat 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 value of $414,933.16. Following the completion of the transaction, the chief executive officer now owns 103,692 shares of the company’s stock, valued at approximately $12,870,251.04. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Lee D. Rudow sold 3,343 shares of the company’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 value of $414,933.16. Following the completion of the transaction, the chief executive officer now owns 103,692 shares of the company’s stock, valued at $12,870,251.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles P. Hadeed sold 1,358 shares of Transcat stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $130.00, for a total transaction of $176,540.00. Following the sale, the director now owns 21,320 shares in the company, valued at $2,771,600. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,215 shares of company stock worth $2,969,084. Insiders own 4.20% of the company’s stock.

Transcat Company Profile

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.