Oppenheimer Downgrades Transcat (NASDAQ:TRNS) to Market Perform

Transcat (NASDAQ:TRNS) was downgraded by equities researchers at Oppenheimer from an “outperform” rating to a “market perform” rating in a research note issued to investors on Wednesday, Marketbeat.com reports.

A number of other research firms also recently commented on TRNS. HC Wainwright restated a “buy” rating and issued a $156.00 target price on shares of Transcat in a research report on Tuesday, October 29th. Northland Securities lowered 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. Craig Hallum boosted their target price on Transcat from $113.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Finally, StockNews.com upgraded shares of Transcat from a “sell” rating to a “hold” rating in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $111.50.

Transcat Price Performance

TRNS stock opened at $76.71 on Wednesday. Transcat has a 1 year low of $73.37 and a 1 year high of $147.12. The firm has a market capitalization of $705.73 million, a PE ratio of 38.74 and a beta of 0.71. The business has a 50 day simple moving average of $103.79 and a 200-day simple moving average of $114.55.

Transcat (NASDAQ:TRNS) last released 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 the consensus estimate 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 quarter in the previous year, the company earned $0.56 earnings per share. On average, equities research analysts expect that Transcat will post 2.44 EPS for the current year.

Hedge Funds Weigh In On Transcat

Several hedge funds and other institutional investors have recently made changes to their positions in TRNS. Conestoga Capital Advisors LLC increased its holdings in Transcat by 17.9% in the third quarter. Conestoga Capital Advisors LLC now owns 907,191 shares of the scientific and technical instruments company’s stock valued at $109,561,000 after buying an additional 137,830 shares during the last quarter. Royce & Associates LP boosted its position in shares of Transcat by 8.2% during the 3rd quarter. Royce & Associates LP now owns 511,701 shares of the scientific and technical instruments company’s stock worth $61,798,000 after acquiring an additional 38,774 shares in the last quarter. Champlain Investment Partners LLC increased its holdings in shares of Transcat by 22.1% in the 3rd quarter. Champlain Investment Partners LLC now owns 409,500 shares of the scientific and technical instruments company’s stock valued at $49,455,000 after acquiring an additional 74,169 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Transcat by 5.4% during the 3rd quarter. Geode Capital Management LLC now owns 217,473 shares of the scientific and technical instruments company’s stock worth $26,269,000 after acquiring an additional 11,106 shares in the last quarter. Finally, State Street Corp raised its position in shares of Transcat by 8.1% during the 3rd quarter. State Street Corp now owns 207,230 shares of the scientific and technical instruments company’s stock worth $25,027,000 after acquiring an additional 15,514 shares in the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

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.