Transcat (NASDAQ:TRNS) Price Target Raised to $125.00

Transcat (NASDAQ:TRNS) had its target price hoisted by Craig Hallum from $113.00 to $125.00 in a report issued on Thursday morning,Benzinga reports. Craig Hallum currently has a buy rating on the scientific and technical instruments company’s stock.

Other equities research analysts have also issued research reports about the stock. HC Wainwright reiterated a “buy” rating and issued a $156.00 price objective on shares of Transcat in a research note 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 research note on Wednesday, October 30th. StockNews.com lowered shares of Transcat from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Finally, Northland Securities lowered their price target on shares of Transcat from $130.00 to $110.00 and set a “market perform” rating on the stock in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Transcat has a consensus rating of “Hold” and an average target price of $130.25.

Transcat Stock Down 1.9 %

Shares of NASDAQ TRNS opened at $109.12 on Thursday. The firm has a fifty day simple moving average of $111.36 and a 200 day simple moving average of $119.37. Transcat has a twelve month low of $94.29 and a twelve month high of $147.12. The company has a market capitalization of $1.00 billion, a PE ratio of 55.11 and a beta of 0.70.

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

Institutional Investors Weigh In On Transcat

Several hedge funds have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale purchased a new position in Transcat in the 2nd quarter worth approximately $40,000. nVerses Capital LLC purchased a new position in Transcat during the 3rd quarter valued at about $60,000. First Horizon Advisors Inc. grew its position in shares of Transcat by 26.4% in the 2nd 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 during the last quarter. Fifth Third Bancorp increased its stake in shares of Transcat by 95.8% during the second quarter. Fifth Third Bancorp now owns 656 shares of the scientific and technical instruments company’s stock valued at $79,000 after buying an additional 321 shares during the period. Finally, Quest Partners LLC purchased a new position in shares of Transcat during the second quarter valued at approximately $109,000. Institutional investors own 98.34% of the company’s stock.

Transcat Company Profile

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.