Transcat, Inc. (NASDAQ:TRNS) Receives Average Recommendation of “Moderate Buy” from Brokerages

Transcat, Inc. (NASDAQ:TRNS) has been assigned an average recommendation of “Moderate Buy” from the five brokerages that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $151.33.

TRNS has been the topic of a number of analyst reports. Craig Hallum lowered their price objective on shares of Transcat from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. HC Wainwright reiterated a “buy” rating and set a $156.00 price target on shares of Transcat in a research note on Tuesday, July 30th.

Transcat Stock Performance

NASDAQ TRNS opened at $124.55 on Wednesday. Transcat has a one year low of $84.45 and a one year high of $147.12. The firm has a market cap of $1.14 billion, a PE ratio of 78.33 and a beta of 0.67. The firm’s fifty day moving average is $124.11 and its two-hundred day moving average is $120.21.

Transcat (NASDAQ:TRNS) last posted its quarterly earnings data on Monday, July 29th. The scientific and technical instruments company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.28 by $0.20. Transcat had a return on equity of 8.48% and a net margin of 5.69%. The firm had revenue of $66.70 million during the quarter, compared to the consensus estimate of $69.35 million. During the same period in the prior year, the business earned $0.38 EPS. The firm’s revenue was up 10.1% compared to the same quarter last year. Research analysts predict that Transcat will post 2.06 earnings per share for the current year.

Hedge Funds Weigh In On Transcat

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its holdings in Transcat by 14.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 68,339 shares of the scientific and technical instruments company’s stock worth $7,472,000 after buying an additional 8,857 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Transcat by 31.8% during the 4th quarter. Principal Financial Group Inc. now owns 4,065 shares of the scientific and technical instruments company’s stock worth $444,000 after acquiring an additional 981 shares in the last quarter. Annex Advisory Services LLC grew its holdings in shares of Transcat by 164.8% in the 4th quarter. Annex Advisory Services LLC now owns 8,629 shares of the scientific and technical instruments company’s stock worth $943,000 after acquiring an additional 5,370 shares during the period. Wasatch Advisors LP increased its stake in Transcat by 13.3% in the 4th quarter. Wasatch Advisors LP now owns 701,099 shares of the scientific and technical instruments company’s stock valued at $76,651,000 after purchasing an additional 82,458 shares in the last quarter. Finally, Diversified Trust Co raised its holdings in Transcat by 23.6% during the first quarter. Diversified Trust Co now owns 3,010 shares of the scientific and technical instruments company’s stock worth $335,000 after purchasing an additional 575 shares during the last quarter. 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.