Transcat (NASDAQ:TRNS) Downgraded to “Sell” at StockNews.com

StockNews.com lowered shares of Transcat (NASDAQ:TRNS) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning.

Several other research analysts have also recently issued reports on TRNS. Craig Hallum dropped their target price on 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 restated a “buy” rating and set a $156.00 target price on shares of Transcat in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $151.33.

Transcat Stock Down 16.8 %

Shares of TRNS stock opened at $99.45 on Tuesday. The company has a 50 day moving average price of $123.33 and a 200-day moving average price of $122.34. Transcat has a 52 week low of $84.45 and a 52 week high of $147.12. The firm has a market capitalization of $909.97 million, a PE ratio of 58.85 and a beta of 0.67.

Transcat (NASDAQ:TRNS) last issued its earnings results on Monday, October 28th. The scientific and technical instruments company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.12). The company had revenue of $67.83 million during the quarter, compared to analysts’ expectations of $70.30 million. Transcat had a return on equity of 8.48% and a net margin of 5.69%. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.41 EPS. Analysts anticipate that Transcat will post 2.06 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale bought a new position in shares of Transcat during the 2nd quarter valued at approximately $40,000. nVerses Capital LLC purchased a new position in Transcat during the third quarter valued at approximately $60,000. First Horizon Advisors Inc. boosted its position in shares of Transcat by 26.4% in the second quarter. First Horizon Advisors Inc. now owns 599 shares of the scientific and technical instruments company’s stock worth $72,000 after purchasing an additional 125 shares during the period. Fifth Third Bancorp increased its stake in shares of Transcat by 95.8% in the second quarter. Fifth Third Bancorp now owns 656 shares of the scientific and technical instruments company’s stock worth $79,000 after purchasing an additional 321 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in shares of Transcat during the 2nd quarter valued at $109,000. 98.34% of the stock is owned by hedge funds and other 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.