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

Transcat, Inc. (NASDAQ:TRNS) has been given an average rating of “Moderate Buy” by the five ratings firms that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $151.33.

A number of analysts recently commented on TRNS shares. HC Wainwright reiterated a “buy” rating and set a $156.00 price objective on shares of Transcat in a research report on Tuesday, July 30th. Craig Hallum cut their price objective on shares of Transcat from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st.

Institutional Trading of Transcat

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale acquired a new stake in shares of Transcat in the second quarter worth approximately $40,000. First Horizon Advisors Inc. boosted its holdings in shares of Transcat by 26.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 599 shares of the scientific and technical instruments company’s stock valued at $72,000 after purchasing an additional 125 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Transcat by 95.8% during the 2nd quarter. Fifth Third Bancorp now owns 656 shares of the scientific and technical instruments company’s stock valued at $79,000 after buying an additional 321 shares during the period. Quest Partners LLC acquired a new stake in shares of Transcat during the 2nd quarter worth $109,000. Finally, Hamilton Wealth LLC purchased a new position in shares of Transcat in the 1st quarter worth $212,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Transcat Price Performance

Shares of NASDAQ TRNS opened at $124.55 on Wednesday. The firm’s 50-day moving average is $124.11 and its two-hundred day moving average is $120.21. The company has a market capitalization of $1.14 billion, a PE ratio of 78.33 and a beta of 0.67. Transcat has a 12-month low of $84.45 and a 12-month high of $147.12.

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

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.