HC Wainwright Comments on Transcat, Inc.’s FY2024 Earnings (NASDAQ:TRNS)

Transcat, Inc. (NASDAQ:TRNS) – Stock analysts at HC Wainwright dropped their FY2024 earnings per share (EPS) estimates for Transcat in a research note issued on Tuesday, April 16th. HC Wainwright analyst S. Buck now anticipates that the scientific and technical instruments company will post earnings per share of $1.35 for the year, down from their prior forecast of $1.45. HC Wainwright currently has a “Buy” rating and a $124.00 price target on the stock. The consensus estimate for Transcat’s current full-year earnings is $1.33 per share. HC Wainwright also issued estimates for Transcat’s Q4 2024 earnings at $0.53 EPS.

Transcat (NASDAQ:TRNS) last announced its quarterly earnings data on Monday, January 29th. The scientific and technical instruments company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $63.36 million.

Other equities research analysts have also issued research reports about the company. Oppenheimer reaffirmed an “outperform” rating and issued a $125.00 price objective (up previously from $120.00) on shares of Transcat in a report on Thursday. TheStreet raised Transcat from a “c+” rating to a “b” rating in a report on Wednesday, January 31st.

Transcat Price Performance

Shares of TRNS opened at $105.25 on Wednesday. Transcat has a twelve month low of $74.89 and a twelve month high of $115.41. The stock’s 50 day moving average is $108.59 and its two-hundred day moving average is $101.91. The firm has a market capitalization of $929.36 million, a PE ratio of 80.96 and a beta of 0.59. The company has a current ratio of 3.37, a quick ratio of 2.81 and a debt-to-equity ratio of 0.01.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Diversified Trust Co raised its position in shares of Transcat by 4.3% during the 4th quarter. Diversified Trust Co now owns 2,435 shares of the scientific and technical instruments company’s stock worth $266,000 after purchasing an additional 100 shares during the last quarter. White Pine Capital LLC raised its position in shares of Transcat by 1.5% during the 3rd 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 during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Transcat by 5.6% during the 2nd 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 during the last quarter. FMR LLC raised its position in shares of Transcat by 3.8% during the 1st 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 during the last quarter. Finally, Commonwealth Equity Services LLC raised its position in shares of Transcat by 4.2% during the 3rd 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 during the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Lee D. Rudow sold 5,000 shares of Transcat stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $111.30, for a total transaction of $556,500.00. Following the completion of the sale, the chief executive officer now directly owns 108,478 shares in the company, valued at approximately $12,073,601.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Lee D. Rudow sold 5,000 shares of Transcat stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $111.30, for a total transaction of $556,500.00. Following the completion of the transaction, the chief executive officer now directly owns 108,478 shares in the company, valued at approximately $12,073,601.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lee D. Rudow sold 2,373 shares of Transcat stock in a transaction that occurred 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 transaction, the chief executive officer now owns 103,688 shares of the company’s stock, valued at $11,553,953.84. The disclosure for this sale can be found here. In the last three months, insiders sold 8,073 shares of company stock worth $900,023. Company insiders own 4.20% of the company’s stock.

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.