Northland Securities Has Lowered Expectations for Transcat (NASDAQ:TRNS) Stock Price

Transcat (NASDAQ:TRNS) had its target price dropped by investment analysts at Northland Securities from $130.00 to $110.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “market perform” rating on the scientific and technical instruments company’s stock. Northland Securities’ target price suggests a potential upside of 15.10% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Craig Hallum decreased their target price on shares of Transcat from $138.00 to $113.00 and set a “buy” rating for the company in a research report on Wednesday. Oppenheimer restated an “outperform” rating and issued a $130.00 target price (down previously from $155.00) on shares of Transcat in a research report on Wednesday. StockNews.com cut shares of Transcat from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, HC Wainwright reiterated a “buy” rating and issued a $156.00 price objective on shares of Transcat in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Transcat presently has a consensus rating of “Hold” and a consensus target price of $127.25.

Transcat Trading Down 3.5 %

NASDAQ TRNS opened at $95.57 on Wednesday. Transcat has a 52 week low of $84.45 and a 52 week high of $147.12. The stock has a market cap of $873.99 million, a price-to-earnings ratio of 48.27 and a beta of 0.67. The company has a 50-day moving average price of $122.34 and a two-hundred day moving average price of $121.99.

Transcat (NASDAQ:TRNS) last posted its earnings results on Monday, October 28th. The scientific and technical instruments company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.12). Transcat had a return on equity of 8.48% and a net margin of 5.69%. The firm had revenue of $67.83 million during the quarter, compared to the consensus estimate of $70.30 million. During the same quarter last year, the company posted $0.41 EPS. Transcat’s revenue for the quarter was up 8.0% on a year-over-year basis. As a group, equities research analysts expect that Transcat will post 2.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale bought a new stake in Transcat during the second quarter worth approximately $40,000. nVerses Capital LLC bought a new stake in Transcat during the third quarter worth approximately $60,000. First Horizon Advisors Inc. boosted its holdings in Transcat by 26.4% during the second quarter. First Horizon Advisors Inc. now owns 599 shares of the scientific and technical instruments company’s stock worth $72,000 after buying an additional 125 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Transcat by 95.8% during the second quarter. Fifth Third Bancorp now owns 656 shares of the scientific and technical instruments company’s stock worth $79,000 after buying an additional 321 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in Transcat during the second quarter worth approximately $109,000. 98.34% of the stock is currently owned by institutional investors.

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.