In a report released today, Scott Buck from H.C. Wainwright maintained a Buy rating on Transcat (TRNS – Research Report), with a price target of $66.00. The company’s shares closed last Tuesday at $60.37, close to its 52-week high of $65.38.
According to TipRanks.com, Buck is a 5-star analyst with an average return of 27.1% and a 49.0% success rate. Buck covers the Technology sector, focusing on stocks such as Enthusiast Gaming Holdings, Intellicheck Mobilisia, and Lightpath Technologies.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Transcat with a $61.00 average price target.
Based on Transcat’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $48.76 million and net profit of $3.21 million. In comparison, last year the company earned revenue of $45.76 million and had a net profit of $2.49 million.
Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is neutral on the stock. Most recently, in May 2021, Lee Rudow, the President & CEO of TRNS sold 50,000 shares for a total of $2,799,500.
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Transcat, Inc. engages in provision of calibration and laboratory instrument services. It operates through Service and Distribution segments. The Service segment offers calibration, repair, inspection, analytical qualifications, preventive maintenance, consulting, and other related services. The Distribution segment distributes professional grade test, measurement, and control instrumentation. The company was founded in 1964 and is headquartered in Rochester, NY.