Transcat (NASDAQ:TRNS) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Transcat (NASDAQ:TRNS) from a hold rating to a sell rating in a research note issued to investors on Tuesday.

A number of other equities analysts also recently commented on TRNS. HC Wainwright restated a “buy” rating and issued a $156.00 target price on shares of Transcat in a research note on Tuesday. Craig Hallum dropped their price objective on shares of Transcat from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. One 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 stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $127.25.

Transcat Stock Performance

Shares of NASDAQ TRNS opened at $95.41 on Tuesday. The firm’s fifty day moving average is $121.71 and its two-hundred day moving average is $121.89. Transcat has a 52-week low of $84.45 and a 52-week high of $147.12. The company has a market cap of $873.00 million, a P/E ratio of 48.19 and a beta of 0.67.

Transcat (NASDAQ:TRNS) last announced its earnings results on Monday, October 28th. The scientific and technical instruments company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates 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 7.62% and a net margin of 6.63%. Transcat’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.41 EPS. As a group, analysts forecast that Transcat will post 2.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Conestoga Capital Advisors LLC increased its position in shares of Transcat by 17.9% during the third quarter. Conestoga Capital Advisors LLC now owns 907,191 shares of the scientific and technical instruments company’s stock worth $109,561,000 after purchasing an additional 137,830 shares in the last quarter. Hood River Capital Management LLC increased its position in Transcat by 21.6% during the 2nd 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 buying an additional 34,947 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised 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 buying an additional 17,743 shares during the last quarter. Raymond James & Associates boosted its holdings 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 worth $2,494,000 after acquiring an additional 12,622 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in Transcat by 208.3% in the 1st quarter. Janus Henderson Group PLC now owns 10,297 shares of the scientific and technical instruments company’s stock worth $1,147,000 after purchasing an additional 6,957 shares in the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

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.