Transcat (NASDAQ:TRNS) Upgraded to Hold at StockNews.com

Transcat (NASDAQ:TRNS) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report released on Tuesday.

TRNS has been the topic of a number of other research reports. Oppenheimer lowered shares of Transcat from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. HC Wainwright dropped their target price on shares of Transcat from $126.00 to $106.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Finally, Northland Securities reissued a “market perform” rating and issued a $85.00 target price (down from $110.00) on shares of Transcat in a research note on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Transcat presently has an average rating of “Hold” and a consensus price target of $114.00.

Transcat Price Performance

Shares of Transcat stock opened at $90.39 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.42 and a quick ratio of 1.98. Transcat has a one year low of $67.56 and a one year high of $147.12. The business’s 50 day simple moving average is $78.68 and its two-hundred day simple moving average is $89.84. The stock has a market capitalization of $841.44 million, a P/E ratio of 48.86 and a beta of 0.69.

Transcat (NASDAQ:TRNS) last issued its earnings results on Monday, May 19th. The scientific and technical instruments company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.02). Transcat had a return on equity of 7.23% and a net margin of 6.22%. The firm had revenue of $77.13 million during the quarter, compared to the consensus estimate of $76.40 million. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. Analysts forecast that Transcat will post 2.3 EPS for the current year.

Institutional Trading of Transcat

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TRNS. Barclays PLC raised its holdings in Transcat by 393.0% in the 3rd quarter. Barclays PLC now owns 15,130 shares of the scientific and technical instruments company’s stock worth $1,826,000 after purchasing an additional 12,061 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Transcat during the 4th quarter valued at about $182,000. Linden Thomas Advisory Services LLC increased its position in shares of Transcat by 23.2% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 6,477 shares of the scientific and technical instruments company’s stock valued at $685,000 after buying an additional 1,219 shares during the period. Catawba River Capital raised its stake in Transcat by 2.2% in the fourth quarter. Catawba River Capital now owns 67,300 shares of the scientific and technical instruments company’s stock worth $7,116,000 after buying an additional 1,473 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in Transcat by 4.1% in the fourth quarter. Rhumbline Advisers now owns 12,348 shares of the scientific and technical instruments company’s stock worth $1,306,000 after buying an additional 486 shares in the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

About Transcat

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.