Transcat, Inc. (NASDAQ:TRNS) Given Average Rating of “Moderate Buy” by Brokerages

Transcat, Inc. (NASDAQ:TRNS) has received an average recommendation of “Moderate Buy” from the five research firms that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $127.25.

A number of equities analysts have weighed in on TRNS shares. Northland Securities decreased their target price on shares of Transcat from $130.00 to $110.00 and set a “market perform” rating for the company in a research note on Wednesday, October 30th. HC Wainwright reissued a “buy” rating and set a $156.00 price target on shares of Transcat in a research report on Tuesday, October 29th. Craig Hallum reduced their price target on shares of Transcat from $138.00 to $113.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Oppenheimer reissued an “outperform” rating and set a $130.00 price target (down previously from $155.00) on shares of Transcat in a research report on Wednesday, October 30th. Finally, StockNews.com downgraded shares of Transcat from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th.

Institutional Investors Weigh In On Transcat

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Arkadios Wealth Advisors boosted its holdings in Transcat by 1.8% in the second quarter. Arkadios Wealth Advisors now owns 4,411 shares of the scientific and technical instruments company’s stock worth $528,000 after purchasing an additional 76 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in 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 last quarter. Arizona State Retirement System boosted its holdings in Transcat by 5.3% in the second quarter. Arizona State Retirement System now owns 2,555 shares of the scientific and technical instruments company’s stock worth $306,000 after purchasing an additional 129 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Transcat by 1.6% in the second quarter. Oppenheimer Asset Management Inc. now owns 10,562 shares of the scientific and technical instruments company’s stock worth $1,264,000 after purchasing an additional 171 shares during the last quarter. Finally, Essex Investment Management Co. LLC boosted its holdings 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 worth $5,247,000 after purchasing an additional 171 shares during the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Transcat Stock Performance

Shares of NASDAQ TRNS opened at $107.75 on Thursday. Transcat has a fifty-two week low of $88.05 and a fifty-two week high of $147.12. The company has a 50 day simple moving average of $118.86 and a two-hundred day simple moving average of $121.78. The company has a market capitalization of $991.25 million, a price-to-earnings ratio of 54.42 and a beta of 0.69.

Transcat (NASDAQ:TRNS) last announced its earnings results on Monday, October 28th. The scientific and technical instruments company reported $0.35 earnings per share 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 7.36%. The business had revenue of $67.83 million for the quarter, compared to the consensus estimate of $70.30 million. During the same period in the prior year, the business posted $0.41 EPS. Transcat’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, analysts forecast that Transcat will post 1.76 earnings per share for the current fiscal year.

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.