ValuEngine upgraded shares of Transcat (NASDAQ:TRNS) from a hold rating to a buy rating in a report issued on Wednesday.
A number of other research analysts also recently issued reports on TRNS. Zacks Investment Research downgraded Transcat from a hold rating to a sell rating in a research note on Wednesday, December 20th. Singular Research upped their price objective on Transcat from $15.30 to $20.00 and gave the company a buy rating in a research note on Monday, February 5th. Finally, Roth Capital assumed coverage on Transcat in a research note on Friday, February 9th. They issued a buy rating and a $20.00 price objective for the company. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Transcat currently has an average rating of Buy and an average target price of $19.25.
Shares of Transcat stock opened at $16.65 on Wednesday. Transcat has a 12-month low of $11.60 and a 12-month high of $16.65. The firm has a market cap of $113.37, a P/E ratio of 25.55, a P/E/G ratio of 2.19 and a beta of 0.42. The company has a quick ratio of 1.38, a current ratio of 1.98 and a debt-to-equity ratio of 0.50.
In other news, Director John T. Smith sold 2,000 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $15.70, for a total transaction of $31,400.00. Following the transaction, the director now owns 33,100 shares of the company’s stock, valued at approximately $519,670. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 8.80% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of TRNS. Ameriprise Financial Inc. purchased a new position in shares of Transcat during the 3rd quarter valued at $2,484,000. Renaissance Technologies LLC lifted its position in shares of Transcat by 118.8% during the 4th quarter. Renaissance Technologies LLC now owns 53,394 shares of the scientific and technical instruments company’s stock valued at $761,000 after buying an additional 28,994 shares during the last quarter. Wedge Capital Management L L P NC purchased a new position in shares of Transcat during the 4th quarter valued at $378,000. QCI Asset Management Inc. NY lifted its position in shares of Transcat by 62.8% during the 4th quarter. QCI Asset Management Inc. NY now owns 52,467 shares of the scientific and technical instruments company’s stock valued at $748,000 after buying an additional 20,233 shares during the last quarter. Finally, Deutsche Bank AG lifted its position in shares of Transcat by 86.8% during the 4th quarter. Deutsche Bank AG now owns 33,695 shares of the scientific and technical instruments company’s stock valued at $480,000 after buying an additional 15,653 shares during the last quarter. 55.22% of the stock is currently owned by hedge funds and other institutional investors.
Transcat Company Profile
Transcat, Inc provides calibration and laboratory instrument services in the United States, Canada, and internationally. It operates in two segments, Service and Distribution. The Service segment offers calibration, repair, inspection, analytical qualifications, preventative maintenance, consulting, and other related services.
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