Transcat, Inc. (NASDAQ:TRNS) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Transcat, Inc. (NASDAQ:TRNS) have been assigned a consensus rating of “Moderate Buy” from the five research firms that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $130.25.

TRNS has been the subject of several research analyst reports. Northland Securities lowered their price objective on Transcat from $130.00 to $110.00 and set a “market perform” rating for the company in a research report on Wednesday, October 30th. Oppenheimer reissued an “outperform” rating and issued a $130.00 price target (down from $155.00) on shares of Transcat in a research note on Wednesday, October 30th. HC Wainwright reaffirmed a “buy” rating and set a $156.00 price objective on shares of Transcat in a research report on Tuesday, October 29th. StockNews.com downgraded shares of Transcat from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Finally, Craig Hallum raised their price target on shares of Transcat from $113.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, December 12th.

Transcat Price Performance

Shares of TRNS stock opened at $105.98 on Friday. Transcat has a one year low of $94.29 and a one year high of $147.12. The business’s 50 day simple moving average is $105.91 and its 200 day simple moving average is $117.02. The stock has a market capitalization of $974.91 million, a PE ratio of 53.53 and a beta of 0.71.

Transcat (NASDAQ:TRNS) last posted its quarterly earnings data on Monday, October 28th. The scientific and technical instruments company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.12). Transcat had a return on equity of 7.36% and a net margin of 6.63%. The firm had revenue of $67.83 million for the quarter, compared to analyst estimates of $70.30 million. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.41 earnings per share. As a group, research analysts expect that Transcat will post 1.76 earnings per share for the current year.

Institutional Trading of Transcat

Several hedge funds have recently bought and sold shares of the business. DekaBank Deutsche Girozentrale acquired a new position in shares of Transcat during the second quarter valued at about $40,000. nVerses Capital LLC acquired a new position in Transcat during the 3rd quarter valued at about $60,000. Quest Partners LLC bought a new stake in Transcat during the 2nd quarter worth approximately $109,000. US Bancorp DE raised its stake in shares of Transcat by 15.6% in the third quarter. US Bancorp DE now owns 1,547 shares of the scientific and technical instruments company’s stock worth $187,000 after purchasing an additional 209 shares during the last quarter. Finally, Captrust Financial Advisors bought a new position in shares of Transcat in the third quarter valued at approximately $201,000. Institutional investors and hedge funds 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.