Transcat (NASDAQ:TRNS) Announces Earnings Results

Transcat (NASDAQ:TRNS) posted its quarterly earnings data on Tuesday. The scientific and technical instruments company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.13, FiscalAI reports. Transcat had a return on equity of 5.84% and a net margin of 1.62%.The company had revenue of $92.95 million for the quarter, compared to the consensus estimate of $86.55 million.

Transcat Stock Up 2.6%

NASDAQ TRNS traded up $2.31 on Tuesday, hitting $91.89. 121,306 shares of the stock traded hands, compared to its average volume of 150,373. The company has a current ratio of 2.33, a quick ratio of 1.99 and a debt-to-equity ratio of 0.33. The stock has a 50-day moving average of $88.54 and a 200 day moving average of $78.89. Transcat has a twelve month low of $50.23 and a twelve month high of $95.22. The company has a market capitalization of $860.09 million, a P/E ratio of 158.43 and a beta of 0.68.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TRNS. Wall Street Zen upgraded Transcat from a “sell” rating to a “hold” rating in a research note on Sunday, June 28th. Zacks Research upgraded shares of Transcat from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Finally, Weiss Ratings raised shares of Transcat from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Transcat has a consensus rating of “Moderate Buy” and a consensus target price of $105.50.

Institutional Investors Weigh In On Transcat

A number of institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in Transcat by 677.7% in the fourth quarter. Wellington Management Group LLP now owns 248,539 shares of the scientific and technical instruments company’s stock worth $14,100,000 after acquiring an additional 216,579 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Transcat by 109.7% during the fourth quarter. Renaissance Technologies LLC now owns 95,200 shares of the scientific and technical instruments company’s stock valued at $5,401,000 after purchasing an additional 49,800 shares during the last quarter. ArrowMark Colorado Holdings LLC grew its holdings in shares of Transcat by 56.7% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 133,738 shares of the scientific and technical instruments company’s stock valued at $7,587,000 after purchasing an additional 48,367 shares during the last quarter. Sei Investments Co. raised its position in shares of Transcat by 627.4% during the 2nd quarter. Sei Investments Co. now owns 47,203 shares of the scientific and technical instruments company’s stock worth $4,058,000 after purchasing an additional 40,714 shares during the period. Finally, BNP Paribas Financial Markets raised its position in shares of Transcat by 352.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 41,553 shares of the scientific and technical instruments company’s stock worth $3,042,000 after purchasing an additional 32,378 shares during the period. 98.34% of the stock is currently owned by institutional investors.

About Transcat

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.