Transcat (NASDAQ:TRNS) Lowered to “Market Perform” Rating by Oppenheimer

Transcat (NASDAQ:TRNS) was downgraded by analysts at Oppenheimer from an “outperform” rating to a “market perform” rating in a research note issued to investors on Wednesday, MarketBeat reports.

TRNS has been the topic of several other research reports. Craig Hallum upped their target price on Transcat from $113.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Northland Securities cut their price target on Transcat from $130.00 to $110.00 and set a “market perform” rating for the company in a report on Wednesday, October 30th. HC Wainwright reaffirmed a “buy” rating and set a $156.00 price objective on shares of Transcat in a research note on Tuesday, October 29th. Finally, StockNews.com raised shares of Transcat from a “sell” rating to a “hold” rating in a research note on Tuesday. Four 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, Transcat has a consensus rating of “Hold” and an average target price of $111.50.

Transcat Stock Performance

Transcat stock opened at $76.71 on Wednesday. The stock has a 50-day simple moving average of $103.79 and a 200-day simple moving average of $114.55. The company has a market capitalization of $705.73 million, a P/E ratio of 38.74 and a beta of 0.71. Transcat has a fifty-two week low of $73.37 and a fifty-two week high of $147.12.

Transcat (NASDAQ:TRNS) last announced its quarterly earnings data on Monday, January 27th. The scientific and technical instruments company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.07. Transcat had a net margin of 6.63% and a return on equity of 7.36%. During the same period in the previous year, the company posted $0.56 EPS. As a group, analysts forecast that Transcat will post 2.44 earnings per share for the current year.

Institutional Investors Weigh In On Transcat

Several institutional investors have recently bought and sold shares of the business. nVerses Capital LLC purchased a new position in Transcat in the 3rd quarter worth approximately $60,000. US Bancorp DE lifted its position in shares of 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 purchasing an additional 209 shares in the last quarter. Captrust Financial Advisors acquired a new position in shares of Transcat during the third quarter worth $201,000. SG Americas Securities LLC purchased a new position in shares of Transcat in the fourth quarter valued at $182,000. Finally, Walleye Capital LLC acquired a new stake in Transcat during the 3rd quarter valued at $216,000. 98.34% of the stock is currently owned by hedge funds and other 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.