Transcat (NASDAQ:TRNS) Downgraded to “Market Perform” at Northland Securities

Northland Securities cut shares of Transcat (NASDAQ:TRNS) from an outperform rating to a market perform rating in a report issued on Wednesday, MarketBeat reports.

A number of other analysts also recently commented on the stock. HC Wainwright boosted their price target on shares of Transcat from $124.00 to $156.00 and gave the stock a buy rating in a research report on Wednesday. Oppenheimer reissued an outperform rating and set a $125.00 target price (up previously from $120.00) on shares of Transcat in a report on Thursday, April 18th. Finally, TheStreet upgraded Transcat from a c+ rating to a b rating in a research report on Wednesday, January 31st. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $142.67.

Transcat Price Performance

Shares of TRNS opened at $134.51 on Wednesday. Transcat has a one year low of $81.26 and a one year high of $147.00. The stock’s fifty day moving average is $114.10 and its 200-day moving average is $106.59. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.81 and a current ratio of 3.37. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 84.60 and a beta of 0.61.

Insider Activity at Transcat

In other news, CEO Lee D. Rudow sold 12,000 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $135.10, for a total transaction of $1,621,200.00. Following the completion of the sale, the chief executive officer now owns 91,692 shares in the company, valued at approximately $12,387,589.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Lee D. Rudow sold 12,000 shares of Transcat stock in a transaction dated Thursday, May 23rd. The stock was 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 owns 91,692 shares of the company’s stock, valued at approximately $12,387,589.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lee D. Rudow sold 2,373 shares of the business’s stock in a transaction dated Saturday, March 30th. The stock was sold at an average price of $111.43, for a total value of $264,423.39. Following the sale, the chief executive officer now owns 103,688 shares in the company, valued at approximately $11,553,953.84. The disclosure for this sale can be found here. Insiders sold a total of 17,716 shares of company stock valued at $2,300,557 over the last ninety days. Insiders own 4.20% of the company’s stock.

Institutional Trading of Transcat

Several hedge funds and other institutional investors have recently modified their holdings of TRNS. Conestoga Capital Advisors LLC increased its stake in Transcat by 0.6% in the 1st quarter. Conestoga Capital Advisors LLC now owns 767,206 shares of the scientific and technical instruments company’s stock valued at $85,490,000 after buying an additional 4,345 shares during the period. Wasatch Advisors LP increased its stake in shares of Transcat by 7.9% in the first quarter. Wasatch Advisors LP now owns 756,220 shares of the scientific and technical instruments company’s stock worth $84,266,000 after acquiring an additional 55,121 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Transcat by 13.3% during the third quarter. Vanguard Group Inc. now owns 425,378 shares of the scientific and technical instruments company’s stock worth $41,674,000 after acquiring an additional 49,828 shares in the last quarter. Broadcrest Asset Management LLC boosted its position in Transcat by 17.6% during the fourth quarter. Broadcrest Asset Management LLC now owns 400,000 shares of the scientific and technical instruments company’s stock valued at $43,732,000 after purchasing an additional 60,000 shares during the last quarter. Finally, Hood River Capital Management LLC grew its stake in Transcat by 7.2% in the first quarter. Hood River Capital Management LLC now owns 161,891 shares of the scientific and technical instruments company’s stock valued at $18,040,000 after purchasing an additional 10,803 shares in the last quarter. 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.