HC Wainwright Research Analysts Decrease Earnings Estimates for Transcat, Inc. (NASDAQ:TRNS)

Transcat, Inc. (NASDAQ:TRNS) – HC Wainwright lowered their FY2024 earnings per share estimates for Transcat in a research note issued on Tuesday, April 16th. HC Wainwright analyst S. Buck now expects that the scientific and technical instruments company will earn $1.35 per share for the year, down from their previous estimate of $1.45. HC Wainwright has a “Buy” rating and a $124.00 price target on the stock. The consensus estimate for Transcat’s current full-year earnings is $1.36 per share. HC Wainwright also issued estimates for Transcat’s Q4 2024 earnings at $0.53 EPS.

Transcat (NASDAQ:TRNS) last issued its quarterly earnings data on Monday, January 29th. The scientific and technical instruments company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.03. Transcat had a return on equity of 9.32% and a net margin of 4.16%. The company had revenue of $65.17 million during the quarter, compared to analyst estimates of $63.36 million.

Separately, TheStreet upgraded Transcat from a “c+” rating to a “b” rating in a research report on Wednesday, January 31st.

Transcat Trading Down 3.5 %

Shares of TRNS traded down $3.84 during midday trading on Wednesday, hitting $104.71. 48,433 shares of the stock were exchanged, compared to its average volume of 37,953. Transcat has a 52-week low of $74.89 and a 52-week high of $115.41. The stock has a fifty day simple moving average of $108.78 and a 200 day simple moving average of $101.86. The firm has a market cap of $924.59 million, a P/E ratio of 81.12 and a beta of 0.59. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.81 and a current ratio of 3.37.

Insider Activity

In other news, Director Charles P. Hadeed sold 700 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $113.00, for a total value of $79,100.00. Following the sale, the director now directly owns 22,678 shares in the company, valued at $2,562,614. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Lee D. Rudow sold 2,373 shares of the stock in a transaction on 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 directly owns 103,688 shares in the company, valued at $11,553,953.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Charles P. Hadeed sold 700 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $113.00, for a total value of $79,100.00. Following the completion of the sale, the director now owns 22,678 shares in the company, valued at $2,562,614. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,073 shares of company stock worth $900,023. Corporate insiders own 4.20% of the company’s stock.

Institutional Trading of Transcat

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Diversified Trust Co raised its stake in Transcat by 4.3% in the fourth quarter. Diversified Trust Co now owns 2,435 shares of the scientific and technical instruments company’s stock valued at $266,000 after buying an additional 100 shares in the last quarter. White Pine Capital LLC increased its position in shares of Transcat by 1.5% during the third quarter. White Pine Capital LLC now owns 9,985 shares of the scientific and technical instruments company’s stock worth $978,000 after purchasing an additional 144 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Transcat by 5.6% during the second quarter. The Manufacturers Life Insurance Company now owns 2,795 shares of the scientific and technical instruments company’s stock worth $238,000 after purchasing an additional 148 shares in the last quarter. FMR LLC increased its position in shares of Transcat by 3.8% during the first quarter. FMR LLC now owns 4,605 shares of the scientific and technical instruments company’s stock worth $412,000 after purchasing an additional 167 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its position in shares of Transcat by 4.2% during the third quarter. Commonwealth Equity Services LLC now owns 4,377 shares of the scientific and technical instruments company’s stock worth $429,000 after purchasing an additional 175 shares in the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Transcat Company Profile

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.