Truist Financial Corp boosted its stake in Transcat, Inc. (NASDAQ:TRNS – Get Rating) by 260.9% in the first quarter, HoldingsChannel reports. The firm owned 15,553 shares of the scientific and technical instruments company’s stock after buying an additional 11,244 shares during the period. Truist Financial Corp’s holdings in Transcat were worth $1,262,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Covestor Ltd acquired a new stake in Transcat in the fourth quarter worth $44,000. Dorsey Wright & Associates lifted its stake in shares of Transcat by 15.4% in the fourth quarter. Dorsey Wright & Associates now owns 1,079 shares of the scientific and technical instruments company’s stock valued at $100,000 after buying an additional 144 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Transcat in the fourth quarter valued at $213,000. Advisor Group Holdings Inc. lifted its stake in shares of Transcat by 184.8% in the fourth quarter. Advisor Group Holdings Inc. now owns 2,612 shares of the scientific and technical instruments company’s stock valued at $241,000 after buying an additional 1,695 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Transcat in the fourth quarter valued at $299,000. 75.11% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on the stock. Roth Capital dropped their price objective on shares of Transcat from $97.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, May 26th. HC Wainwright dropped their price objective on shares of Transcat from $85.00 to $77.00 and set a “buy” rating on the stock in a research note on Tuesday, July 12th. Craig Hallum dropped their price objective on shares of Transcat from $94.00 to $81.00 and set a “buy” rating on the stock in a research note on Wednesday, May 25th. Finally, StockNews.com started coverage on shares of Transcat in a research report on Thursday, March 31st. They set a “hold” rating on the stock.
Transcat Stock Up 2.3 %
TRNS opened at $58.88 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.15 and a quick ratio of 1.70. The company’s 50-day moving average is $60.69 and its 200 day moving average is $73.06. Transcat, Inc. has a fifty-two week low of $50.32 and a fifty-two week high of $101.05. The firm has a market capitalization of $444.31 million, a P/E ratio of 39.25 and a beta of 0.87.
Transcat (NASDAQ:TRNS – Get Rating) last released its quarterly earnings results on Monday, May 23rd. The scientific and technical instruments company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.10. The company had revenue of $55.88 million for the quarter, compared to analyst estimates of $55.18 million. Transcat had a net margin of 5.55% and a return on equity of 15.28%. Research analysts expect that Transcat, Inc. will post 1.38 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, Director Carl E. Sassano sold 20,000 shares of Transcat stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of $63.14, for a total value of $1,262,800.00. Following the completion of the transaction, the director now owns 45,095 shares in the company, valued at $2,847,298.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.60% of the company’s stock.
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.
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