HC Wainwright Lowers Transcat (NASDAQ:TRNS) Price Target to $106.00

Transcat (NASDAQ:TRNS) had its price objective cut by analysts at HC Wainwright from $126.00 to $106.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the scientific and technical instruments company’s stock. HC Wainwright’s price objective points to a potential upside of 38.18% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Oppenheimer downgraded Transcat from an “outperform” rating to a “market perform” rating in a research note on Wednesday. StockNews.com raised shares of Transcat from a “sell” rating to a “hold” rating in a report on Tuesday. Craig Hallum lifted their price target on shares of Transcat from $113.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Finally, Northland Securities restated a “market perform” rating and issued a $85.00 price objective (down from $110.00) on shares of Transcat in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $111.50.

Transcat Trading Up 4.4 %

Shares of TRNS stock opened at $76.71 on Wednesday. Transcat has a 12-month low of $73.37 and a 12-month high of $147.12. The stock has a market capitalization of $705.73 million, a P/E ratio of 38.74 and a beta of 0.71. The firm’s 50 day moving average is $103.79 and its 200 day moving average is $114.55.

Transcat (NASDAQ:TRNS) last released its quarterly earnings results 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 return on equity of 7.36% and a net margin of 6.63%. During the same period in the prior year, the company posted $0.56 EPS. As a group, equities analysts predict that Transcat will post 2.44 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TRNS. Essex Investment Management Co. LLC boosted its position in shares of Transcat by 0.4% during the third quarter. Essex Investment Management Co. LLC now owns 43,444 shares of the scientific and technical instruments company’s stock worth $5,247,000 after acquiring an additional 171 shares during the last quarter. US Bancorp DE grew its position in shares of Transcat by 15.6% during 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 purchasing an additional 209 shares in the last quarter. Ellsworth Advisors LLC increased its holdings in shares of Transcat by 4.4% in the third quarter. Ellsworth Advisors LLC now owns 5,041 shares of the scientific and technical instruments company’s stock worth $609,000 after purchasing an additional 213 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Transcat by 8.6% in the second quarter. The Manufacturers Life Insurance Company now owns 3,312 shares of the scientific and technical instruments company’s stock worth $396,000 after buying an additional 263 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Transcat by 8.8% during the third quarter. Principal Financial Group Inc. now owns 4,611 shares of the scientific and technical instruments company’s stock valued at $557,000 after buying an additional 373 shares during the last quarter. 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.