Transcat, Inc. Director Craig D. Cairns Purchases Additional Shares

Craig D. Cairns, who serves as a director at Transcat, Inc. (NASDAQ:TRNS), made a notable investment by acquiring 1,200 shares of the company’s stock on January 31st. The shares were obtained at an average price of $77.02 each, resulting in a total expenditure of $92,424. This transaction boosts Cairns' ownership stake in Transcat to 1,910 shares, now valued at approximately $147,108.20. The increase in his holdings represents an impressive rise of 169.01%.

Overview of Transcat Stock Performance

As of Tuesday, Transcat stock opened at $77.22. The company’s stock has seen a 52-week low of $73.37 and a high of $147.12. With a market capitalization of $710.42 million, the stock exhibits a price-to-earnings ratio of 41.74 and a beta value of 0.68. Furthermore, Transcat has a 50-day moving average price of $102.45 and a 200-day moving average price of $113.37.

Recent Earnings Report

Transcat recently released its earnings results on January 27th, revealing an earnings per share (EPS) of $0.45 for the quarter, surpassing analysts’ consensus estimate of $0.38 by $0.07. The company recorded a return on equity of 7.43% and a net margin of 6.22%. In the same quarter the previous year, Transcat reported an EPS of $0.56. Analysts project that the company will achieve an EPS of 2.3 for the current fiscal year.

Institutional Investor Activity

Several institutional investors and hedge funds have recently adjusted their positions in Transcat. Conestoga Capital Advisors LLC increased its stake by 17.9% in the third quarter, now owning 907,191 shares worth $109,561,000, after acquiring an additional 137,830 shares. Similarly, Royce & Associates LP raised its holdings by 8.2%, holding a total of 511,701 shares valued at $61,798,000 after a purchase of 38,774 shares. Champlain Investment Partners LLC enhanced its ownership by 22.1%, acquiring an additional 74,169 shares to reach 409,500 shares worth $49,455,000. Geode Capital Management LLC also increased its stake by 5.4%, attaining 217,473 shares valued at $26,269,000. Lastly, State Street Corp expanded its position by 8.1%, owning 207,230 shares valued at $25,027,000 after acquiring 15,514 additional shares. Collectively, hedge funds and institutional investors now own about 98.34% of Transcat's shares.

Analyst Ratings and Predictions

Various research analysts have recently revised their ratings for Transcat. Oppenheimer changed its rating from "outperform" to "market perform" on January 29th. Northland Securities also maintained a "market perform" rating, now with a price target of $85.00, down from $110.00. Meanwhile, Craig Hallum raised its target price from $113.00 to $125.00, giving the stock a "buy" rating on December 12th. HC Wainwright also amended its price target for Transcat from $126.00 to $106.00 while keeping a "buy" rating. Lastly, StockNews.com upgraded the stock from a "sell" to a "hold" rating on January 28th. Presently, four analysts have given Transcat a hold rating, and two have rated it as a buy. According to MarketBeat.com, the consensus rating is "Hold," with a target price of $111.50.

Company Profile

Transcat, Inc. provides calibration and laboratory instrument services across the United States, Canada, and internationally. The company operates through two main segments: Service and Distribution. The Service segment includes services such as calibration, repair, inspection, analytical qualification, preventative maintenance, and consulting, among others.

Transcat, Shares, Investment