Transcat (TRNS) Lifted to Strong-Buy at Zacks Investment Research

Transcat (NASDAQ:TRNS) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday. The brokerage currently has a $24.00 target price on the scientific and technical instruments company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 16.28% from the stock’s previous close.

According to Zacks, “Transcat, Inc. distributes test and measurement instruments and provides accredited calibration services to a variety of industries including life sciences, pharmaceutical, petroleum refining, chemical manufacturing, public utility, pulp and paper, communications, automotive and aerospace. “

Separately, Singular Research increased their target price on Transcat from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, August 21st.



Shares of TRNS stock traded down $0.01 during trading hours on Tuesday, reaching $20.64. 200 shares of the company’s stock were exchanged, compared to its average volume of 13,595. The company has a market cap of $149.83 million, a price-to-earnings ratio of 28.96, a price-to-earnings-growth ratio of 2.61 and a beta of 0.58. Transcat has a 1 year low of $12.00 and a 1 year high of $25.35. The company has a current ratio of 2.04, a quick ratio of 1.33 and a debt-to-equity ratio of 0.37.

Transcat (NASDAQ:TRNS) last issued its earnings results on Wednesday, October 24th. The scientific and technical instruments company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.04. The business had revenue of $38.88 million during the quarter, compared to the consensus estimate of $38.00 million. Transcat had a return on equity of 12.69% and a net margin of 4.54%. On average, equities analysts forecast that Transcat will post 1 earnings per share for the current fiscal year.

In related news, Director John T. Smith sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 31st. The stock was sold at an average price of $10.30, for a total value of $30,900.00. Following the completion of the transaction, the director now directly owns 42,166 shares of the company’s stock, valued at approximately $434,309.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 10,639 shares of company stock valued at $109,307 over the last ninety days. 8.80% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its stake in Transcat by 4.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 330,201 shares of the scientific and technical instruments company’s stock valued at $6,241,000 after purchasing an additional 14,138 shares in the last quarter. Dalton Greiner Hartman Maher & Co. increased its stake in Transcat by 42.7% in the 2nd quarter. Dalton Greiner Hartman Maher & Co. now owns 315,932 shares of the scientific and technical instruments company’s stock valued at $5,971,000 after purchasing an additional 94,480 shares in the last quarter. Renaissance Technologies LLC increased its stake in Transcat by 52.4% in the 2nd quarter. Renaissance Technologies LLC now owns 74,981 shares of the scientific and technical instruments company’s stock valued at $1,417,000 after purchasing an additional 25,784 shares in the last quarter. UBS Group AG increased its stake in Transcat by 62.9% in the 1st quarter. UBS Group AG now owns 66,465 shares of the scientific and technical instruments company’s stock valued at $1,040,000 after purchasing an additional 25,664 shares in the last quarter. Finally, Essex Investment Management Co. LLC purchased a new position in Transcat in the 3rd quarter valued at approximately $1,127,000. 54.77% of the stock is owned by hedge funds and other institutional investors.

Transcat Company Profile

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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