Transcat (NASDAQ:TRNS) Receives Market Perform Rating from Northland Securities

Transcat (NASDAQ:TRNS)‘s stock had its “market perform” rating reaffirmed by investment analysts at Northland Securities in a research report issued on Wednesday,Benzinga reports. They currently have a $85.00 price objective on the scientific and technical instruments company’s stock, down from their prior price objective of $110.00. Northland Securities’ price objective would suggest a potential downside of 1.77% from the company’s previous close.

A number of other analysts also recently weighed in on TRNS. Oppenheimer downgraded shares of Transcat from an “outperform” rating to a “market perform” rating in a report on Wednesday. HC Wainwright reissued a “buy” rating and set a $156.00 price objective on shares of Transcat in a research note on Tuesday, October 29th. 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. Finally, StockNews.com raised Transcat from a “sell” rating to a “hold” rating in a research report on Tuesday. 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, Transcat presently has an average rating of “Hold” and an average target price of $111.50.

Transcat Price Performance

NASDAQ TRNS opened at $86.53 on Wednesday. Transcat has a 1-year low of $75.18 and a 1-year high of $147.12. The business has a 50 day simple moving average of $104.98 and a two-hundred day simple moving average of $115.11. The stock has a market capitalization of $796.08 million, a PE ratio of 43.70 and a beta of 0.71.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TRNS. Essex Investment Management Co. LLC raised its holdings in shares of Transcat by 0.4% in the third quarter. Essex Investment Management Co. LLC now owns 43,444 shares of the scientific and technical instruments company’s stock worth $5,247,000 after buying an additional 171 shares during the period. US Bancorp DE grew its position in Transcat by 15.6% in the 3rd quarter. US Bancorp DE now owns 1,547 shares of the scientific and technical instruments company’s stock valued at $187,000 after acquiring an additional 209 shares during the last quarter. Ellsworth Advisors LLC increased its stake in Transcat by 4.4% in the third quarter. Ellsworth Advisors LLC now owns 5,041 shares of the scientific and technical instruments company’s stock worth $609,000 after purchasing an additional 213 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Transcat by 8.6% during the second quarter. The Manufacturers Life Insurance Company now owns 3,312 shares of the scientific and technical instruments company’s stock worth $396,000 after purchasing an additional 263 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Transcat by 8.8% during the third quarter. Principal Financial Group Inc. now owns 4,611 shares of the scientific and technical instruments company’s stock valued at $557,000 after purchasing an additional 373 shares during the period. 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.