Transcat (NASDAQ:TRNS) Lowered to Market Perform Rating by Oppenheimer

Transcat (NASDAQ:TRNS) was downgraded by investment analysts at Oppenheimer from an “outperform” rating to a “market perform” rating in a research note issued to investors on Wednesday,Briefing.com Automated Import reports.

Other equities analysts have also issued research reports about the company. StockNews.com raised Transcat from a “sell” rating to a “hold” rating in a report on Tuesday. Craig Hallum increased their target price on Transcat from $113.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Northland Securities dropped 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. Finally, HC Wainwright reaffirmed a “buy” rating and set a $156.00 price objective on shares of Transcat in a report on Tuesday, October 29th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $130.25.

Transcat Trading Down 12.7 %

Shares of NASDAQ TRNS opened at $86.53 on Wednesday. The stock has a market cap of $796.08 million, a P/E ratio of 43.70 and a beta of 0.71. Transcat has a 12-month low of $75.18 and a 12-month high of $147.12. The business’s fifty day simple moving average is $104.98 and its 200-day simple moving average is $115.11.

Transcat (NASDAQ:TRNS) last announced its quarterly earnings data on Monday, January 27th. The scientific and technical instruments company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.07. Transcat had a return on equity of 7.36% and a net margin of 6.63%. During the same period in the previous year, the company earned $0.56 EPS. On average, equities analysts forecast that Transcat will post 2.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Transcat

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Conestoga Capital Advisors LLC grew its holdings in shares of Transcat by 17.9% during the third quarter. Conestoga Capital Advisors LLC now owns 907,191 shares of the scientific and technical instruments company’s stock worth $109,561,000 after buying an additional 137,830 shares during the last quarter. Millrace Asset Group Inc. purchased a new position in shares of Transcat during the third quarter worth about $655,000. Champlain Investment Partners LLC grew its holdings in shares of Transcat by 22.1% during the third quarter. Champlain Investment Partners LLC now owns 409,500 shares of the scientific and technical instruments company’s stock worth $49,455,000 after buying an additional 74,169 shares during the last quarter. State Street Corp grew its holdings in shares of Transcat by 8.1% during the third quarter. State Street Corp now owns 207,230 shares of the scientific and technical instruments company’s stock worth $25,027,000 after buying an additional 15,514 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Transcat by 5.4% during the third quarter. Geode Capital Management LLC now owns 217,473 shares of the scientific and technical instruments company’s stock worth $26,269,000 after buying an additional 11,106 shares during the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

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.