StockNews.com Upgrades Transcat (NASDAQ:TRNS) to “Hold”

Transcat (NASDAQ:TRNS) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Other analysts have also recently issued reports about the stock. HC Wainwright restated a “buy” rating and issued a $156.00 price objective on shares of Transcat in a research note on Tuesday, October 29th. Craig Hallum increased their price objective on Transcat from $113.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Northland Securities cut their target price on shares of Transcat from $130.00 to $110.00 and set a “market perform” rating for the company in a research note on Wednesday, October 30th. Finally, Oppenheimer restated an “outperform” rating and set a $130.00 price objective (down previously from $155.00) on shares of Transcat in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $111.50.

Transcat Stock Performance

Shares of TRNS opened at $73.50 on Tuesday. The firm has a market cap of $676.20 million, a PE ratio of 37.12 and a beta of 0.71. The firm’s 50 day moving average price is $104.40 and its 200 day moving average price is $114.81. Transcat has a twelve month low of $73.37 and a twelve month high of $147.12.

Transcat (NASDAQ:TRNS) last issued its quarterly earnings data on Monday, January 27th. The scientific and technical instruments company reported $0.45 earnings per share (EPS) for the quarter, topping 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 firm earned $0.56 earnings per share. On average, sell-side analysts anticipate that Transcat will post 2.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Transcat

Several hedge funds and other institutional investors have recently made changes to their positions in the company. nVerses Capital LLC bought a new stake in Transcat during the 3rd quarter worth about $60,000. US Bancorp DE lifted its holdings in 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 valued at $187,000 after buying an additional 209 shares during the period. Captrust Financial Advisors bought a new position in Transcat in the third quarter valued at approximately $201,000. SG Americas Securities LLC acquired a new stake in Transcat during the 4th quarter worth $182,000. Finally, Walleye Capital LLC bought a new stake in shares of Transcat during the 3rd quarter valued at $216,000. 98.34% of the stock is owned by institutional investors and hedge funds.

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.