Transcat (NASDAQ:TRNS) Downgraded by ValuEngine

ValuEngine downgraded shares of Transcat (NASDAQ:TRNS) from a buy rating to a hold rating in a research report released on Thursday morning, ValuEngine reports.

Separately, Zacks Investment Research cut shares of Transcat from a hold rating to a strong sell rating in a research report on Tuesday, July 30th.

TRNS traded down $0.06 during midday trading on Thursday, hitting $23.02. 19,337 shares of the company traded hands, compared to its average volume of 37,176. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.03 and a quick ratio of 1.39. The stock has a market cap of $168.60 million, a P/E ratio of 23.31, a price-to-earnings-growth ratio of 3.14 and a beta of 0.72. Transcat has a 52-week low of $17.56 and a 52-week high of $27.00. The stock’s 50 day moving average price is $24.99.

Transcat (NASDAQ:TRNS) last issued its earnings results on Tuesday, July 23rd. The scientific and technical instruments company reported $0.23 EPS for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.02). The business had revenue of $42.40 million during the quarter. Transcat had a net margin of 4.46% and a return on equity of 13.04%. Equities analysts expect that Transcat will post 0.92 EPS for the current year.

In related news, Director Carl E. Sassano sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $24.85, for a total transaction of $124,250.00. Following the completion of the sale, the director now directly owns 71,484 shares in the company, valued at $1,776,377.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Charles P. Hadeed sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $26.50, for a total transaction of $265,000.00. Following the sale, the chairman now owns 50,993 shares of the company’s stock, valued at $1,351,314.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,462 shares of company stock valued at $842,642. 8.90% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in TRNS. Marshall Wace North America L.P. increased its position in Transcat by 157.5% during the first quarter. Marshall Wace North America L.P. now owns 1,545 shares of the scientific and technical instruments company’s stock worth $36,000 after purchasing an additional 945 shares during the last quarter. Strs Ohio acquired a new stake in shares of Transcat during the second quarter valued at about $46,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Transcat during the first quarter valued at about $62,000. Hillsdale Investment Management Inc. acquired a new stake in shares of Transcat during the second quarter valued at about $102,000. Finally, Howe & Rusling Inc. increased its position in shares of Transcat by 40.4% during the first quarter. Howe & Rusling Inc. now owns 6,950 shares of the scientific and technical instruments company’s stock valued at $160,000 after acquiring an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 60.89% of the company’s stock.

About Transcat

Transcat, Inc provides calibration and laboratory instrument services in North America and internationally. It operates in 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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