Transcat, Inc. (NASDAQ:TRNS) Short Interest Update

Transcat, Inc. (NASDAQ:TRNS) was the recipient of a large growth in short interest during the month of August. As of August 15th, there was short interest totalling 265,800 shares, a growth of 33.4% from the July 31st total of 199,300 shares. Based on an average daily trading volume, of 56,700 shares, the short-interest ratio is currently 4.7 days.

Transcat Trading Up 0.2 %

Shares of TRNS traded up $0.21 during trading hours on Friday, reaching $123.46. The stock had a trading volume of 63,319 shares, compared to its average volume of 46,980. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 77.65 and a beta of 0.68. The firm has a 50-day simple moving average of $123.71 and a 200 day simple moving average of $117.86. Transcat has a 12 month low of $84.45 and a 12 month high of $147.12.

Transcat (NASDAQ:TRNS) last released its quarterly earnings data on Monday, July 29th. The scientific and technical instruments company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.20. The firm had revenue of $66.70 million for the quarter, compared to analyst estimates of $69.35 million. Transcat had a net margin of 5.69% and a return on equity of 8.48%. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period last year, the firm earned $0.38 earnings per share. On average, equities analysts forecast that Transcat will post 2.06 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Northland Securities downgraded Transcat from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 22nd. Oppenheimer increased their price target on Transcat from $125.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, May 22nd. 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 reissued a “buy” rating and set a $156.00 target price on shares of Transcat in a research note on Tuesday, July 30th. Finally, Craig Hallum decreased their price target on shares of Transcat from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Transcat presently has an average rating of “Moderate Buy” and a consensus price target of $151.33.

Insider Buying and Selling at Transcat

In related news, Director Charles P. Hadeed sold 1,358 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $2,771,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Transcat

A number of hedge funds have recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale bought a new position in shares of Transcat during the second quarter valued at about $40,000. First Horizon Advisors Inc. grew its holdings in shares of Transcat by 26.4% in the second quarter. First Horizon Advisors Inc. now owns 599 shares of the scientific and technical instruments company’s stock valued at $72,000 after acquiring an additional 125 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Transcat by 95.8% during the second quarter. Fifth Third Bancorp now owns 656 shares of the scientific and technical instruments company’s stock valued at $79,000 after acquiring an additional 321 shares during the last quarter. Quest Partners LLC bought a new stake in Transcat during the second quarter worth $109,000. Finally, Hamilton Wealth LLC bought a new stake in Transcat during the first quarter worth $212,000. Institutional investors and hedge funds 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.