Transcat, Inc. (NASDAQ:TRNS) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Transcat, Inc. (NASDAQ:TRNS) have earned a consensus rating of “Moderate Buy” from the five analysts that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $151.33.

Several equities analysts have recently commented on TRNS shares. HC Wainwright reiterated a “buy” rating and set a $156.00 target price on shares of Transcat in a research note on Tuesday, July 30th. Craig Hallum reduced their target price on Transcat from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st.

Transcat Stock Down 1.6 %

NASDAQ TRNS opened at $123.46 on Friday. The stock has a market cap of $1.13 billion, a PE ratio of 77.65 and a beta of 0.67. The business has a 50 day moving average price of $123.80 and a two-hundred day moving average price of $122.11. Transcat has a fifty-two week low of $84.45 and a fifty-two week high of $147.12.

Transcat (NASDAQ:TRNS) last released its earnings results on Monday, July 29th. The scientific and technical instruments company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.28 by $0.20. The company had revenue of $66.70 million during the quarter, compared to analysts’ expectations of $69.35 million. Transcat had a return on equity of 8.48% and a net margin of 5.69%. The business’s revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.38 EPS. Sell-side analysts anticipate that Transcat will post 2.06 EPS for the current fiscal year.

Institutional Investors Weigh In On Transcat

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its position in shares of Transcat by 28.8% during the 3rd 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 acquiring an additional 17,743 shares in the last quarter. Arkadios Wealth Advisors raised its position in shares of Transcat by 38.7% during the 3rd quarter. Arkadios Wealth Advisors now owns 6,118 shares of the scientific and technical instruments company’s stock valued at $739,000 after acquiring an additional 1,707 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Transcat by 16,241.2% during the 3rd quarter. International Assets Investment Management LLC now owns 2,778 shares of the scientific and technical instruments company’s stock valued at $335,000 after acquiring an additional 2,761 shares in the last quarter. Raymond James & Associates raised its position in shares of Transcat by 157.2% during the 3rd quarter. Raymond James & Associates now owns 20,651 shares of the scientific and technical instruments company’s stock valued at $2,494,000 after acquiring an additional 12,622 shares in the last quarter. Finally, Trust Point Inc. raised its position in shares of Transcat by 37.5% during the 3rd quarter. Trust Point Inc. now owns 3,640 shares of the scientific and technical instruments company’s stock valued at $440,000 after acquiring an additional 992 shares in the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

Transcat Company Profile

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.