Transcat (NASDAQ:TRNS) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Transcat (NASDAQ:TRNS) from a strong-buy rating to a hold rating in a research note released on Wednesday, Zacks.com reports.

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. “

TRNS has been the topic of several other research reports. Craig Hallum started coverage on shares of Transcat in a research report on Thursday, July 16th. They set a buy rating and a $36.00 price target on the stock. B. Riley initiated coverage on shares of Transcat in a research note on Wednesday, July 22nd. They set a buy rating and a $35.00 price objective on the stock. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $36.25.

NASDAQ:TRNS opened at $27.90 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.32 and a quick ratio of 1.64. The firm has a 50-day moving average of $25.88 and a two-hundred day moving average of $27.74. The stock has a market cap of $211.99 million, a P/E ratio of 29.89, a PEG ratio of 4.32 and a beta of 0.68. Transcat has a 1-year low of $16.50 and a 1-year high of $34.18.

Transcat (NASDAQ:TRNS) last posted its quarterly earnings data on Wednesday, July 22nd. The scientific and technical instruments company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.14. The company had revenue of $38.90 million during the quarter, compared to analysts’ expectations of $38.72 million. Transcat had a net margin of 4.21% and a return on equity of 11.02%. As a group, equities analysts expect that Transcat will post 0.83 earnings per share for the current year.

In other Transcat news, Director Gary J. Haseley bought 3,000 shares of Transcat stock in a transaction that occurred on Friday, May 22nd. The stock was purchased at an average cost of $25.20 per share, for a total transaction of $75,600.00. Following the completion of the acquisition, the director now owns 27,255 shares of the company’s stock, valued at approximately $686,826. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 8.90% of the company’s stock.

A number of large investors have recently modified their holdings of TRNS. Citigroup Inc. raised its holdings in shares of Transcat by 35.4% during the 1st quarter. Citigroup Inc. now owns 1,877 shares of the scientific and technical instruments company’s stock valued at $50,000 after purchasing an additional 491 shares in the last quarter. Marshall Wace North America L.P. raised its stake in Transcat by 157.5% during the 1st quarter. Marshall Wace North America L.P. now owns 1,545 shares of the scientific and technical instruments company’s stock valued at $36,000 after purchasing an additional 945 shares during the period. BNP Paribas Arbitrage SA raised its stake in Transcat by 123.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,133 shares of the scientific and technical instruments company’s stock valued at $57,000 after purchasing an additional 1,180 shares during the period. Royal Bank of Canada raised its stake in Transcat by 293.0% during the 1st quarter. Royal Bank of Canada now owns 1,792 shares of the scientific and technical instruments company’s stock valued at $48,000 after purchasing an additional 1,336 shares during the period. Finally, UBS Group AG raised its stake in Transcat by 3.7% during the 4th quarter. UBS Group AG now owns 47,924 shares of the scientific and technical instruments company’s stock valued at $1,527,000 after purchasing an additional 1,689 shares during the period. Hedge funds and other institutional investors own 69.36% of the company’s stock.

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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