StockNews.com Upgrades Transcat (NASDAQ:TRNS) to Hold

Transcat (NASDAQ:TRNS) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Several other analysts also recently issued reports on the company. Oppenheimer reissued an “outperform” rating and issued a $130.00 price target (down previously from $155.00) on shares of Transcat in a research note on Wednesday, October 30th. Northland Securities reduced their price target on Transcat from $130.00 to $110.00 and set a “market perform” rating for the company in a research report on Wednesday, October 30th. HC Wainwright reissued a “buy” rating and issued a $156.00 price objective on shares of Transcat in a research report on Tuesday, October 29th. Finally, Craig Hallum boosted their price target on shares of Transcat from $113.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Transcat presently has an average rating of “Hold” and an average target price of $111.50.

Transcat Trading Down 15.1 %

TRNS stock opened at $73.50 on Tuesday. Transcat has a 1-year low of $73.37 and a 1-year high of $147.12. The business’s 50-day moving average price is $104.40 and its two-hundred day moving average price is $114.81. The firm has a market cap of $676.20 million, a PE ratio of 37.12 and a beta of 0.71.

Transcat (NASDAQ:TRNS) last posted its earnings results on Monday, January 27th. The scientific and technical instruments company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.07. Transcat had a return on equity of 7.36% and a net margin of 6.63%. During the same quarter in the previous year, the business posted $0.56 earnings per share. On average, analysts forecast that Transcat will post 2.44 earnings per share for the current year.

Institutional Investors Weigh In On Transcat

Several hedge funds have recently added to or reduced their stakes in the business. Essex Investment Management Co. LLC raised its position in shares of 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 valued at $5,247,000 after purchasing an additional 171 shares during the period. US Bancorp DE lifted its position in Transcat by 15.6% during the third quarter. US Bancorp DE now owns 1,547 shares of the scientific and technical instruments company’s stock worth $187,000 after acquiring an additional 209 shares during the last quarter. Ellsworth Advisors LLC boosted its holdings in shares of Transcat by 4.4% during the third quarter. Ellsworth Advisors LLC now owns 5,041 shares of the scientific and technical instruments company’s stock worth $609,000 after acquiring an additional 213 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Transcat by 8.6% in the second quarter. The Manufacturers Life Insurance Company now owns 3,312 shares of the scientific and technical instruments company’s stock valued at $396,000 after purchasing an additional 263 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Transcat by 8.8% during the third quarter. Principal Financial Group Inc. now owns 4,611 shares of the scientific and technical instruments company’s stock worth $557,000 after purchasing an additional 373 shares during the period. Institutional investors and hedge funds 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.