45,000 Shares in Transcat, Inc. (NASDAQ:TRNS) Purchased by ACK Asset Management LLC

ACK Asset Management LLC acquired a new position in Transcat, Inc. (NASDAQ:TRNS) during the fourth quarter, Holdings Channel reports. The firm acquired 45,000 shares of the scientific and technical instruments company’s stock, valued at approximately $4,758,000. Transcat makes up approximately 0.6% of ACK Asset Management LLC’s portfolio, making the stock its 22nd biggest holding.

Other institutional investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp increased its holdings in shares of Transcat by 686.7% in the 4th quarter. Jones Financial Companies Lllp now owns 354 shares of the scientific and technical instruments company’s stock worth $37,000 after buying an additional 309 shares during the last quarter. Morgan Dempsey Capital Management LLC purchased a new position in shares of Transcat during the 4th quarter valued at about $143,000. SG Americas Securities LLC bought a new stake in Transcat in the 4th quarter worth approximately $182,000. KLP Kapitalforvaltning AS purchased a new stake in Transcat in the fourth quarter worth approximately $190,000. Finally, Captrust Financial Advisors purchased a new position in shares of Transcat during the third quarter worth approximately $201,000. 98.34% of the stock is currently owned by institutional investors.

Transcat Stock Performance

TRNS stock opened at $77.70 on Tuesday. Transcat, Inc. has a 12-month low of $67.56 and a 12-month high of $147.12. The stock’s 50 day simple moving average is $76.64 and its 200 day simple moving average is $98.54. The stock has a market capitalization of $723.31 million, a PE ratio of 42.00 and a beta of 0.67. The company has a current ratio of 2.42, a quick ratio of 1.98 and a debt-to-equity ratio of 0.14.

Transcat (NASDAQ:TRNS) last posted its earnings results on Monday, January 27th. The scientific and technical instruments company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.07. Transcat had a return on equity of 7.23% and a net margin of 6.22%. During the same period in the prior year, the business earned $0.56 EPS. As a group, research analysts forecast that Transcat, Inc. will post 2.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. StockNews.com cut Transcat from a “hold” rating to a “sell” rating in a research note on Wednesday, February 5th. Craig Hallum raised their price target on shares of Transcat from $113.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. HC Wainwright lowered their price objective on shares of Transcat from $126.00 to $106.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Oppenheimer cut Transcat from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. Finally, Northland Securities reaffirmed a “market perform” rating and set a $85.00 price target (down previously from $110.00) on shares of Transcat in a research report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $111.50.

Insider Buying and Selling at Transcat

In other news, Director Craig D. Cairns bought 1,200 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was bought at an average price of $77.02 per share, with a total value of $92,424.00. Following the acquisition, the director now owns 1,910 shares of the company’s stock, valued at approximately $147,108.20. This represents a 169.01 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.30% of the stock is currently owned by corporate insiders.

About Transcat

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.