Transcat (NASDAQ:TRNS) Rating Increased to Hold at Zacks Research

by · The Markets Daily

Zacks Research upgraded shares of Transcat (NASDAQ:TRNS – Free Report) from a strong sell rating to a hold rating in a research report report published on Wednesday morning,Zacks.com reports.

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Transcat in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $105.33.

Read Our Latest Research Report on Transcat

Transcat Price Performance

Shares of NASDAQ:TRNS opened at $74.86 on Wednesday. The business has a fifty day moving average price of $68.31 and a 200-day moving average price of $68.13. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.21 and a quick ratio of 1.85. The company has a market capitalization of $698.44 million, a PE ratio of 88.07 and a beta of 0.71. Transcat has a 1-year low of $50.23 and a 1-year high of $97.08.

Transcat (NASDAQ:TRNS – Get Free Report) last announced its quarterly earnings results on Tuesday, February 3rd. The scientific and technical instruments company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.04). The firm had revenue of $83.86 million during the quarter, compared to the consensus estimate of $80.99 million. Transcat had a return on equity of 6.15% and a net margin of 2.47%. As a group, equities analysts expect that Transcat will post 2.3 EPS for the current fiscal year.

Institutional Investors Weigh In On Transcat

A number of hedge funds have recently modified their holdings of the business. Wellington Management Group LLP raised its holdings in Transcat by 677.7% in the 4th quarter. Wellington Management Group LLP now owns 248,539 shares of the scientific and technical instruments company’s stock worth $14,100,000 after purchasing an additional 216,579 shares during the period. First Eagle Investment Management LLC purchased a new stake in Transcat in the fourth quarter worth about $7,259,000. King Luther Capital Management Corp raised its stake in shares of Transcat by 182.3% in the fourth quarter. King Luther Capital Management Corp now owns 103,750 shares of the scientific and technical instruments company’s stock worth $5,886,000 after buying an additional 67,000 shares during the period. Royce & Associates LP lifted its position in shares of Transcat by 15.3% during the 4th quarter. Royce & Associates LP now owns 390,546 shares of the scientific and technical instruments company’s stock valued at $22,156,000 after buying an additional 51,774 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Transcat by 109.7% during the 4th quarter. Renaissance Technologies LLC now owns 95,200 shares of the scientific and technical instruments company’s stock valued at $5,401,000 after acquiring an additional 49,800 shares during the period. Institutional investors own 98.34% of the company’s stock.

Transcat Company Profile

(Get Free Report)

Transcat, Inc (NASDAQ: TRNS) is a leading provider of calibration, laboratory, and metrology services in North America. Founded in 1964 and headquartered in Ronkonkoma, New York, the company specializes in ensuring the accuracy and compliance of measurement instruments across a wide range of industries. Transcat operates a network of ISO/IEC 17025–accredited laboratories and offers on-site field calibration, instrument repair, and preventive maintenance services.

In addition to its calibration services, Transcat distributes precision instrumentation and related software solutions from top manufacturers.

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