Transcat (NASDAQ:TRNS) PT Lowered to $81.00

Transcat (NASDAQ:TRNSGet Rating) had its target price cut by Craig Hallum from $94.00 to $81.00 in a research report issued to clients and investors on Wednesday, The Fly reports. Craig Hallum’s target price would suggest a potential upside of 29.41% from the stock’s current price.

A number of other equities research analysts also recently issued reports on the stock. StockNews.com began coverage on shares of Transcat in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Zacks Investment Research downgraded shares of Transcat from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 5th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Transcat presently has an average rating of “Hold” and an average price target of $88.00.

Shares of Transcat stock traded down $0.45 on Wednesday, reaching $62.59. The company had a trading volume of 19 shares, compared to its average volume of 45,970. The firm’s 50 day moving average price is $74.77 and its two-hundred day moving average price is $82.45. The firm has a market cap of $470.61 million, a PE ratio of 41.18 and a beta of 0.82. Transcat has a 52-week low of $52.61 and a 52-week high of $101.05. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.77 and a current ratio of 2.34.

In other Transcat news, CEO Lee D. Rudow sold 5,210 shares of the business’s stock in a transaction that occurred on Saturday, March 26th. The shares were sold at an average price of $74.21, for a total transaction of $386,634.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of TRNS. US Bancorp DE grew its holdings in Transcat by 137.9% during the 1st quarter. US Bancorp DE now owns 345 shares of the scientific and technical instruments company’s stock worth $28,000 after acquiring an additional 200 shares in the last quarter. Marshall Wace North America L.P. grew its holdings in Transcat by 157.5% during the 1st quarter. Marshall Wace North America L.P. now owns 1,545 shares of the scientific and technical instruments company’s stock worth $36,000 after acquiring an additional 945 shares in the last quarter. Royal Bank of Canada grew its holdings in Transcat by 30.4% during the 3rd quarter. Royal Bank of Canada now owns 631 shares of the scientific and technical instruments company’s stock worth $40,000 after acquiring an additional 147 shares in the last quarter. Covestor Ltd acquired a new position in shares of Transcat in the 4th quarter valued at $44,000. Finally, Denali Advisors LLC acquired a new position in shares of Transcat in the 4th quarter valued at $46,000. Institutional investors own 75.11% of the company’s stock.

About Transcat (Get Rating)

Transcat, Inc provides calibration and laboratory instrument services in the United States, Canada, and internationally. It operates in two segments, Service and Distribution. The Service segment offers calibration, repair, inspection, analytical qualification, preventative maintenance, consulting, and other related services.

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