Transcat, Inc. (NASDAQ:TRNS) Given Average Rating of “Moderate Buy” by Analysts

Shares of Transcat, Inc. (NASDAQ:TRNS) have been assigned a consensus rating of “Moderate Buy” from the five analysts that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $127.25.

TRNS has been the subject of a number of analyst reports. StockNews.com lowered shares of Transcat from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Oppenheimer reiterated an “outperform” rating and set a $130.00 target price (down from $155.00) on shares of Transcat in a report on Wednesday, October 30th. Northland Securities dropped their target price on shares of Transcat from $130.00 to $110.00 and set a “market perform” rating for the company in a report on Wednesday, October 30th. HC Wainwright reiterated a “buy” rating and set a $156.00 target price on shares of Transcat in a report on Tuesday, October 29th. Finally, Craig Hallum dropped their target price on shares of Transcat from $138.00 to $113.00 and set a “buy” rating for the company in a report on Wednesday, October 30th.

Hedge Funds Weigh In On Transcat

A number of institutional investors have recently bought and sold shares of TRNS. DekaBank Deutsche Girozentrale bought a new position in Transcat in the second quarter worth about $40,000. nVerses Capital LLC bought a new position in Transcat in the third quarter worth about $60,000. First Horizon Advisors Inc. raised its stake in Transcat by 26.4% in 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 raised its stake in Transcat by 95.8% in 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 position in Transcat in the second quarter worth about $109,000. 98.34% of the stock is owned by institutional investors.

Transcat Stock Up 0.9 %

NASDAQ TRNS opened at $107.75 on Thursday. The company has a 50-day simple moving average of $118.86 and a two-hundred day simple moving average of $121.78. Transcat has a 12-month low of $88.05 and a 12-month high of $147.12. The firm has a market cap of $991.25 million, a price-to-earnings ratio of 54.42 and a beta of 0.69.

Transcat (NASDAQ:TRNS) last posted its quarterly earnings results on Monday, October 28th. The scientific and technical instruments company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.12). Transcat had a net margin of 6.63% and a return on equity of 7.36%. The business had revenue of $67.83 million for the quarter, compared to analysts’ expectations of $70.30 million. During the same quarter in the previous year, the company earned $0.41 earnings per share. The business’s quarterly revenue was up 8.0% on a year-over-year basis. Equities analysts expect that Transcat will post 1.76 earnings per share for the current fiscal year.

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.