Transcat, Inc. (NASDAQ:TRNS) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Transcat, Inc. (NASDAQ:TRNS) have received an average recommendation of “Moderate Buy” from the five brokerages that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $130.25.

A number of equities research analysts have commented on TRNS shares. StockNews.com cut shares of Transcat from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Oppenheimer reaffirmed an “outperform” rating and issued a $130.00 target price (down from $155.00) on shares of Transcat in a research report on Wednesday, October 30th. Craig Hallum raised their price objective on Transcat from $113.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. HC Wainwright restated a “buy” rating and set a $156.00 price objective on shares of Transcat in a report on Tuesday, October 29th. Finally, Northland Securities cut their target price on Transcat from $130.00 to $110.00 and set a “market perform” rating on the stock in a report on Wednesday, October 30th.

Institutional Trading of Transcat

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Conestoga Capital Advisors LLC lifted its holdings in shares of Transcat by 17.9% in the third quarter. Conestoga Capital Advisors LLC now owns 907,191 shares of the scientific and technical instruments company’s stock valued at $109,561,000 after purchasing an additional 137,830 shares in the last quarter. Champlain Investment Partners LLC lifted its stake in Transcat by 22.1% during the 3rd quarter. Champlain Investment Partners LLC now owns 409,500 shares of the scientific and technical instruments company’s stock valued at $49,455,000 after acquiring an additional 74,169 shares in the last quarter. Royce & Associates LP lifted its stake in Transcat by 8.2% during the 3rd quarter. Royce & Associates LP now owns 511,701 shares of the scientific and technical instruments company’s stock valued at $61,798,000 after acquiring an additional 38,774 shares in the last quarter. Hood River Capital Management LLC boosted its holdings in Transcat by 21.6% during the 2nd quarter. Hood River Capital Management LLC now owns 196,838 shares of the scientific and technical instruments company’s stock worth $23,558,000 after acquiring an additional 34,947 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Transcat by 28.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 79,303 shares of the scientific and technical instruments company’s stock valued at $9,577,000 after purchasing an additional 17,743 shares during the last quarter. 98.34% of the stock is owned by institutional investors.

Transcat Price Performance

Shares of Transcat stock opened at $105.70 on Friday. The stock’s 50-day moving average is $105.56 and its 200 day moving average is $117.18. Transcat has a one year low of $94.29 and a one year high of $147.12. The firm has a market cap of $972.33 million, a price-to-earnings ratio of 53.38 and a beta of 0.71.

Transcat (NASDAQ:TRNS) last posted its quarterly earnings results on Monday, October 28th. The scientific and technical instruments company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.12). The business had revenue of $67.83 million for the quarter, compared to the consensus estimate of $70.30 million. Transcat had a return on equity of 7.36% and a net margin of 6.63%. Transcat’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.41 earnings per share. On average, sell-side analysts expect that Transcat will post 1.76 EPS for the current fiscal year.

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.