Transcat (NASDAQ:TRNS) Given Outperform Rating at Oppenheimer

Oppenheimer reaffirmed their outperform rating on shares of Transcat (NASDAQ:TRNS) in a research note released on Wednesday, Benzinga reports. Oppenheimer currently has a $130.00 price target on the scientific and technical instruments company’s stock, down from their previous price target of $155.00.

TRNS has been the topic of a number of other research reports. HC Wainwright reissued a “buy” rating and issued a $156.00 target price on shares of Transcat in a research report on Tuesday, October 29th. StockNews.com lowered Transcat from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Finally, Craig Hallum dropped their target price on Transcat from $138.00 to $113.00 and set a “buy” rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $127.25.

Transcat Price Performance

NASDAQ TRNS opened at $95.41 on Wednesday. The firm has a market cap of $873.00 million, a P/E ratio of 48.19 and a beta of 0.69. The stock’s 50-day moving average is $121.71 and its 200-day moving average is $121.89. Transcat has a one year low of $84.45 and a one year high of $147.12.

Transcat (NASDAQ:TRNS) last announced its earnings results on Monday, October 28th. The scientific and technical instruments company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.12). Transcat had a net margin of 6.63% and a return on equity of 7.62%. The firm had revenue of $67.83 million during the quarter, compared to analyst estimates of $70.30 million. During the same period in the prior year, the business posted $0.41 EPS. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. Equities analysts anticipate that Transcat will post 1.76 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TRNS. Conestoga Capital Advisors LLC grew its stake 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 purchasing an additional 137,830 shares in the last quarter. Hood River Capital Management LLC grew its stake in Transcat by 21.6% in the second quarter. Hood River Capital Management LLC now owns 196,838 shares of the scientific and technical instruments company’s stock valued at $23,558,000 after purchasing an additional 34,947 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Transcat by 28.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 79,303 shares of the scientific and technical instruments company’s stock valued at $9,577,000 after purchasing an additional 17,743 shares in the last quarter. Raymond James & Associates grew its stake in Transcat by 157.2% in the third quarter. Raymond James & Associates now owns 20,651 shares of the scientific and technical instruments company’s stock valued at $2,494,000 after purchasing an additional 12,622 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in Transcat by 208.3% in the first quarter. Janus Henderson Group PLC now owns 10,297 shares of the scientific and technical instruments company’s stock valued at $1,147,000 after purchasing an additional 6,957 shares in the last quarter. 98.34% of the stock is currently owned by institutional investors.

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.