Insider Buying: Transcat, Inc. (NASDAQ:TRNS) Director Acquires $92,424.00 in Stock

Transcat, Inc. (NASDAQ:TRNS) Director Craig D. Cairns bought 1,200 shares of the company’s stock in a transaction on Friday, January 31st. The stock was purchased at an average cost of $77.02 per share, for a total transaction of $92,424.00. Following the completion of the transaction, the director now directly owns 1,910 shares of the company’s stock, valued at approximately $147,108.20. The trade was a 169.01 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Transcat Stock Performance

TRNS opened at $78.85 on Thursday. Transcat, Inc. has a fifty-two week low of $73.37 and a fifty-two week high of $147.12. The stock has a market cap of $725.42 million, a price-to-earnings ratio of 42.62 and a beta of 0.68. The firm’s fifty day moving average is $101.40 and its 200 day moving average is $112.73.

Transcat (NASDAQ:TRNS) last released its quarterly earnings data on Monday, January 27th. The scientific and technical instruments company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.07. Transcat had a return on equity of 7.43% and a net margin of 6.22%. During the same period last year, the business earned $0.56 earnings per share. On average, equities research analysts predict that Transcat, Inc. will post 2.3 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TRNS shares. Northland Securities reiterated a “market perform” rating and issued a $85.00 price objective (down previously from $110.00) on shares of Transcat in a research note on Wednesday, January 29th. Craig Hallum lifted their price target on shares of Transcat from $113.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. StockNews.com cut Transcat from a “hold” rating to a “sell” rating in a report on Wednesday. HC Wainwright cut their price target on Transcat from $126.00 to $106.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Finally, Oppenheimer downgraded Transcat from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Transcat currently has a consensus rating of “Hold” and a consensus price target of $111.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Conestoga Capital Advisors LLC lifted its holdings in shares of Transcat by 17.9% in the third quarter. Conestoga Capital Advisors LLC now owns 907,191 shares of the scientific and technical instruments company’s stock worth $109,561,000 after buying an additional 137,830 shares in the last quarter. Royce & Associates LP lifted its stake in Transcat by 8.2% in the 3rd quarter. Royce & Associates LP now owns 511,701 shares of the scientific and technical instruments company’s stock worth $61,798,000 after purchasing an additional 38,774 shares in the last quarter. Champlain Investment Partners LLC boosted its holdings in shares of Transcat by 22.1% during the 3rd quarter. Champlain Investment Partners LLC now owns 409,500 shares of the scientific and technical instruments company’s stock valued at $49,455,000 after purchasing an additional 74,169 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Transcat by 5.4% during the third quarter. Geode Capital Management LLC now owns 217,473 shares of the scientific and technical instruments company’s stock valued at $26,269,000 after purchasing an additional 11,106 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Transcat by 8.1% in the third quarter. State Street Corp now owns 207,230 shares of the scientific and technical instruments company’s stock worth $25,027,000 after purchasing an additional 15,514 shares during the last quarter. 98.34% of the stock is currently owned by 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.