Transcat (NASDAQ:TRNS) Sees Strong Trading Volume

Transcat, Inc. (NASDAQ:TRNS) shares saw unusually-strong trading volume on Monday . Approximately 67,449 shares were traded during trading, an increase of 61% from the previous session’s volume of 41,765 shares.The stock last traded at $139.54 and had previously closed at $140.00.

Wall Street Analysts Forecast Growth

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

Transcat Stock Performance

The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 88.05 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. The stock’s 50-day simple moving average is $128.01 and its 200 day simple moving average is $115.37.

Transcat (NASDAQ:TRNS) last announced its earnings results on Monday, May 20th. The scientific and technical instruments company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.25. Transcat had a net margin of 5.26% and a return on equity of 9.50%. The company had revenue of $70.91 million for the quarter, compared to analyst estimates of $68.76 million. Analysts expect that Transcat, Inc. will post 1.99 earnings per share for the current fiscal year.

Insider Transactions at Transcat

In related 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 value 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 Securities & Exchange Commission, which is available at this link. In related news, CEO Lee D. Rudow sold 12,000 shares of the 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 transaction, the chief executive officer now directly owns 91,692 shares in the company, valued at $12,387,589.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Lee D. Rudow sold 3,343 shares of the company’s 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 completion of the sale, the chief executive officer now directly owns 103,692 shares of the company’s stock, valued at approximately $12,870,251.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,215 shares of company stock worth $2,969,084. Corporate insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Transcat

Large investors have recently bought and sold shares of the company. Arkadios Wealth Advisors increased its position in shares of Transcat by 1.8% during the second quarter. Arkadios Wealth Advisors now owns 4,411 shares of the scientific and technical instruments company’s stock worth $528,000 after acquiring an additional 76 shares in the last quarter. Conestoga Capital Advisors LLC increased its position in shares of Transcat by 0.3% during the second quarter. Conestoga Capital Advisors LLC now owns 769,361 shares of the scientific and technical instruments company’s stock worth $92,077,000 after acquiring an additional 2,155 shares in the last quarter. Bank of New York Mellon Corp grew its position in Transcat by 23.5% in the second quarter. Bank of New York Mellon Corp now owns 33,181 shares of the scientific and technical instruments company’s stock valued at $3,971,000 after purchasing an additional 6,315 shares in the last quarter. Calamos Advisors LLC grew its position in Transcat by 76.0% in the second quarter. Calamos Advisors LLC now owns 15,441 shares of the scientific and technical instruments company’s stock valued at $1,848,000 after purchasing an additional 6,667 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in Transcat by 95.8% in the second quarter. Fifth Third Bancorp now owns 656 shares of the scientific and technical instruments company’s stock valued at $79,000 after purchasing an additional 321 shares in the last quarter. Institutional investors own 98.34% 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.