Transcat (NASDAQ:TRNS) Earns Market Perform Rating from Northland Securities

Transcat (NASDAQ:TRNS)‘s stock had its “market perform” rating reissued by stock analysts at Northland Securities in a note issued to investors on Wednesday,Benzinga reports. They currently have a $85.00 price objective on the scientific and technical instruments company’s stock, down from their previous price objective of $110.00. Northland Securities’ price target suggests a potential upside of 10.81% from the stock’s current price.

TRNS has been the subject of several other research reports. Craig Hallum lifted their price objective on shares of Transcat from $113.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Oppenheimer downgraded Transcat from an “outperform” rating to a “market perform” rating in a research note on Wednesday. HC Wainwright reissued a “buy” rating and set a $156.00 price objective on shares of Transcat in a report on Tuesday, October 29th. Finally, StockNews.com upgraded shares of Transcat from a “sell” rating to a “hold” rating in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $111.50.

Transcat Trading Up 4.4 %

TRNS opened at $76.71 on Wednesday. Transcat has a 1 year low of $73.37 and a 1 year high of $147.12. The stock has a fifty day moving average price of $103.79 and a 200 day moving average price of $114.55. The stock has a market cap of $705.73 million, a price-to-earnings ratio of 38.74 and a beta of 0.71.

Transcat (NASDAQ:TRNS) last announced its quarterly earnings results on Monday, January 27th. The scientific and technical instruments company reported $0.45 EPS for the quarter, beating the consensus estimate 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 previous year, the business posted $0.56 earnings per share. As a group, sell-side analysts forecast that Transcat will post 2.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Transcat

A number of institutional investors and hedge funds have recently modified their holdings of the business. Essex Investment Management Co. LLC boosted its stake in Transcat by 0.4% in the third quarter. Essex Investment Management Co. LLC now owns 43,444 shares of the scientific and technical instruments company’s stock valued at $5,247,000 after acquiring an additional 171 shares during the last quarter. US Bancorp DE lifted its stake in shares of Transcat by 15.6% in the 3rd 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 during the period. Ellsworth Advisors LLC boosted its position in shares of Transcat by 4.4% in the 3rd 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 grew its stake in shares of Transcat by 8.6% during 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 purchasing an additional 263 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in Transcat by 8.8% in 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 purchasing an additional 373 shares during the last quarter. 98.34% of the stock is owned by institutional investors.

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.