Transcat (NASDAQ:TRNS) Given New $138.00 Price Target at Craig Hallum

Transcat (NASDAQ:TRNS) had its price target reduced by Craig Hallum from $150.00 to $138.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Craig Hallum currently has a buy rating on the scientific and technical instruments company’s stock.

A number of other equities analysts have also issued reports on the stock. HC Wainwright reiterated a buy rating and issued a $156.00 target price on shares of Transcat in a research report on Tuesday, July 30th. Northland Securities downgraded Transcat from an outperform rating to a market perform rating in a report on Wednesday, May 22nd. Oppenheimer boosted their target price on shares of Transcat from $125.00 to $160.00 and gave the company an outperform rating in a research note on Wednesday, May 22nd. Finally, Northland Capmk lowered shares of Transcat from a strong-buy rating to a hold rating in a research report on Wednesday, May 22nd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $151.33.

Transcat Price Performance

Shares of NASDAQ:TRNS opened at $107.60 on Wednesday. The company has a market cap of $983.46 million, a PE ratio of 67.67 and a beta of 0.68. The firm has a 50-day simple moving average of $126.19 and a 200 day simple moving average of $115.93. Transcat has a fifty-two week low of $84.45 and a fifty-two week high of $147.12. The company has a quick ratio of 2.62, a current ratio of 3.14 and a debt-to-equity ratio of 0.01.

Transcat (NASDAQ:TRNS) last announced its quarterly earnings results on Monday, July 29th. The scientific and technical instruments company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.20. Transcat had a net margin of 5.69% and a return on equity of 9.23%. The company had revenue of $66.70 million during the quarter, compared to the consensus estimate of $69.35 million. During the same quarter in the previous year, the company posted $0.38 earnings per share. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Transcat will post 2.06 EPS for the current year.

Insiders Place Their Bets

In other Transcat news, insider James M. Jenkins sold 5,514 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $137.18, for a total transaction of $756,410.52. Following the completion of the sale, the insider now owns 1,619 shares of the company’s stock, valued at $222,094.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider James M. Jenkins sold 5,514 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $137.18, for a total value of $756,410.52. Following the sale, the insider now directly owns 1,619 shares of the company’s stock, valued at $222,094.42. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Lee D. Rudow sold 3,343 shares of Transcat 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 directly owns 103,692 shares in the company, valued at $12,870,251.04. The disclosure for this sale can be found here. Insiders have sold 22,215 shares of company stock valued at $2,969,084 over the last three months. 4.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. First Horizon Advisors Inc. boosted its stake in Transcat by 26.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 599 shares of the scientific and technical instruments company’s stock valued at $72,000 after buying an additional 125 shares in the last quarter. Fifth Third Bancorp raised its stake in shares of Transcat by 95.8% in the second quarter. Fifth Third Bancorp now owns 656 shares of the scientific and technical instruments company’s stock worth $79,000 after acquiring an additional 321 shares during the last quarter. Hamilton Wealth LLC acquired a new position in Transcat during the 1st quarter worth $212,000. Virtu Financial LLC acquired a new position in shares of Transcat during the first quarter valued at $224,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Transcat by 13.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,347 shares of the scientific and technical instruments company’s stock valued at $262,000 after purchasing an additional 284 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

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.