Transcat (NASDAQ:TRNS) Shares Gap Up on Insider Buying Activity

Transcat, Inc. (NASDAQ:TRNS)’s stock price gapped up before the market opened on Monday after an insider bought additional shares in the company. The stock had previously closed at $101.51, but opened at $108.67. Transcat shares last traded at $108.5660, with a volume of 36,488 shares.

Specifically, CEO Jaime A. Irick bought 2,275 shares of the business’s stock in a transaction on Thursday, November 5th. The shares were bought at an average cost of $101.26 per share, for a total transaction of $230,366.50. Following the completion of the purchase, the chief executive officer owned 2,275 shares of the company’s stock, valued at $230,366.50. This represents a ? increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on TRNS shares. Zacks Research raised shares of Transcat from a “hold” rating to a “strong-buy” rating in a report on Thursday. Northland Securities raised shares of Transcat from a “market perform” rating to an “outperform” rating and set a $95.00 price objective on the stock in a report on Wednesday, October 21st. CJS Securities began coverage on shares of Transcat in a research report on Tuesday, October 27th. They issued an “outperform” rating and a $115.00 price objective on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of Transcat in a research note on Tuesday, August 25th. Finally, Oppenheimer upgraded shares of Transcat from a “market perform” rating to an “outperform” rating and set a $115.00 target price for the company in a research report on Wednesday, November 4th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $108.33.

Transcat Stock Up 6.9%

The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.19 and a current ratio of 2.57. The firm has a 50 day simple moving average of $86.94 and a two-hundred day simple moving average of $82.43. The stock has a market cap of $1.02 billion, a P/E ratio of 225.30 and a beta of 0.61.

Transcat (NASDAQ:TRNS) last released its quarterly earnings results on Tuesday, November 3rd. The scientific and technical instruments company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.19. The company had revenue of $97.09 million during the quarter, compared to analysts’ expectations of $92.46 million. Transcat had a return on equity of 6.14% and a net margin of 1.26%. Equities research analysts predict that Transcat, Inc. will post 2.06 earnings per share for the current year.

Institutional Investors Weigh In On Transcat

Several institutional investors have recently bought and sold shares of TRNS. Integrated Wealth Concepts LLC bought a new position in Transcat in the 2nd quarter valued at about $32,000. Persistent Asset Partners Ltd acquired a new position in Transcat during the 2nd quarter valued at about $52,000. GAMMA Investing LLC increased its stake in Transcat by 133.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,030 shares of the scientific and technical instruments company’s stock valued at $91,000 after buying an additional 589 shares during the period. Canada Pension Plan Investment Board bought a new stake in shares of Transcat during the 2nd quarter worth about $204,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Transcat during the 2nd quarter worth about $226,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

About Transcat

Transcat, Inc (NASDAQ: TRNS) provides calibration, compliance, and measurement services for organizations that rely on accurate test and measurement equipment. The company supports customers in regulated industries, including life sciences, aerospace and defense, energy, manufacturing, and other industrial markets.

Its service offerings include laboratory and onsite calibration, repair, validation, and asset-management services. Transcat calibrates a broad range of equipment used to measure temperature, pressure, electrical and electronic properties, radio frequency signals, dimensional characteristics, and other technical parameters.