Transcat (NASDAQ:TRNS) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Transcat (NASDAQ:TRNS) from a sell rating to a hold rating in a research note published on Tuesday morning.

Several other brokerages have also weighed in on TRNS. Craig Hallum increased their price objective on Transcat from $113.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, December 12th. HC Wainwright reiterated a “buy” rating and set a $156.00 price target on shares of Transcat in a research note on Tuesday, October 29th. Northland Securities lowered their price objective on Transcat from $130.00 to $110.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 30th. Finally, Oppenheimer reiterated an “outperform” rating and set a $130.00 target price (down previously from $155.00) on shares of Transcat in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $130.25.

Transcat Price Performance

NASDAQ TRNS opened at $86.53 on Tuesday. The business’s fifty day moving average is $104.98 and its 200-day moving average is $115.11. The stock has a market capitalization of $795.99 million, a price-to-earnings ratio of 43.70 and a beta of 0.71. Transcat has a one year low of $75.18 and a one year high of $147.12.

Transcat (NASDAQ:TRNS) last released its earnings results on Monday, January 27th. The scientific and technical instruments company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.07. Transcat had a net margin of 6.63% and a return on equity of 7.36%. During the same period in the previous year, the business earned $0.56 EPS. Research analysts expect that Transcat will post 2.44 EPS for the current fiscal year.

Institutional Trading of Transcat

A number of institutional investors have recently added to or reduced their stakes in the stock. nVerses Capital LLC purchased a new position in Transcat during the third quarter valued at approximately $60,000. SG Americas Securities LLC bought a new position in Transcat in the 4th quarter valued at $182,000. US Bancorp DE grew its position in shares of Transcat by 15.6% during the 3rd quarter. US Bancorp DE now owns 1,547 shares of the scientific and technical instruments company’s stock valued at $187,000 after purchasing an additional 209 shares in the last quarter. Captrust Financial Advisors bought a new position in shares of Transcat in the third quarter worth $201,000. Finally, Walleye Capital LLC bought a new position in shares of Transcat in the third quarter worth $216,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

About Transcat

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.