Transcat, Inc. Director Makes Significant Stock Purchase

Transcat, Inc. (NASDAQ:TRNS) has recently seen a notable transaction involving Director Craig D. Cairns, who purchased 1,200 shares of the company's stock on January 31st. The purchase was made at an average price of $77.02 per share, amounting to a total value of $92,424. Following this acquisition, Cairns now holds 1,910 shares in Transcat, valued at approximately $147,108.20. This purchase marks a significant 169.01% increase in his ownership stake in the company, showcasing his confidence in Transcat's future. The details of the transaction were disclosed in a filing with the Securities and Exchange Commission, which is publicly accessible.

Transcat Stock Performance

On Monday, Transcat's shares opened slightly higher, increasing by $0.20 to reach $77.22. In total, 108,401 shares were traded, which is slightly below the average trading volume of 116,733 shares. The company has a 50-day moving average of $103.15, while its 200-day moving average is $113.80. The market capitalization of Transcat stands at $710.42 million, with a P/E ratio of 41.74 and a beta of 0.68. Over the past year, the stock has fluctuated significantly, with a low of $73.37 and a high of $147.12.

Latest Earnings Report

Transcat recently released its earnings results on January 27th. The scientific and technical instruments company reported earnings per share (EPS) of $0.45 for the quarter, exceeding analysts' expectations, which estimated EPS at $0.38. The company recorded a net margin of 6.22% and a return on equity of 7.43%. In the same quarter last year, the EPS was reported at $0.56. Looking ahead, analysts predict that Transcat will achieve an EPS of 2.3 for the current year.

Institutional Activity

In recent months, several institutional investors have adjusted their positions in Transcat. For instance, during the fourth quarter, Rice Hall James & Associates LLC increased its stake in the company by 40.2%, now holding 35,685 shares valued at $3,773,000 after acquiring an additional 10,238 shares. Other institutional moves include Principal Financial Group Inc. increasing its position by 8.5% with a current holding of 5,002 shares valued at $529,000, and Rhumbline Advisers growing their holdings by 4.1% to now own 12,348 shares worth $1,306,000. Additionally, approximately 98.34% of Transcat’s stock is currently owned by institutional investors.

Analysts' Ratings and Price Targets

Recent analyses from equities research analysts have yielded mixed ratings for Transcat. HC Wainwright reduced its price target from $126.00 to $106.00 while maintaining a "buy" rating. Oppenheimer has downgraded their assessment, moving from an "outperform" to a "market perform" rating. On the other hand, Craig Hallum increased their price target from $113.00 to $125.00, affirming a "buy" rating for the stock. StockNews.com recently upgraded Transcat from a "sell" rating to a "hold" rating. The general consensus among analysts reflects a balance, with four analysts rating the stock as a hold and two as a buy, leading to a current overall consensus rating of "Hold" and an average target price of $111.50.

About Transcat, Inc.

Transcat, Inc. specializes in providing calibration and laboratory instrument services across the United States, Canada, and internationally. The company operates through two key segments: Service and Distribution. The Service segment includes a range of offerings such as calibration, repair, inspection, analytical qualification, preventive maintenance, and consulting services.

Transcat, Stock, Purchase