Transcat, Inc. (NASDAQ:TRNS) Receives $151.33 Consensus Target Price from Analysts

Shares of Transcat, Inc. (NASDAQ:TRNS) have earned an average recommendation of “Moderate Buy” from the five analysts that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $151.33.

TRNS has been the topic of several research reports. Northland Securities lowered shares of Transcat from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 22nd. HC Wainwright restated a “buy” rating and set a $156.00 price objective on shares of Transcat in a research note on Tuesday, July 30th. Oppenheimer raised their price objective on Transcat from $125.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, May 22nd. Northland Capmk downgraded shares of Transcat from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 22nd. Finally, Craig Hallum lowered their price target on shares of Transcat from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st.

Transcat Trading Down 3.2 %

Shares of TRNS stock opened at $118.84 on Friday. Transcat has a twelve month low of $84.45 and a twelve month high of $147.12. The stock has a fifty day simple moving average of $124.04 and a two-hundred day simple moving average of $118.34. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 74.74 and a beta of 0.67.

Transcat (NASDAQ:TRNS) last released its quarterly earnings data on Monday, July 29th. The scientific and technical instruments company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.20. Transcat had a net margin of 5.69% and a return on equity of 8.48%. The company had revenue of $66.70 million during the quarter, compared to analyst estimates of $69.35 million. During the same period in the prior year, the firm earned $0.38 earnings per share. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. Research analysts predict that Transcat will post 2.06 EPS for the current fiscal year.

Insider Activity at Transcat

In other news, Director Charles P. Hadeed sold 1,358 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $130.00, for a total transaction of $176,540.00. Following the sale, the director now owns 21,320 shares in the company, valued at $2,771,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Transcat

Hedge funds and other institutional investors have recently modified their holdings of the stock. DekaBank Deutsche Girozentrale acquired a new position in Transcat during the 2nd quarter valued at approximately $40,000. First Horizon Advisors Inc. increased its position in shares of Transcat by 26.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 599 shares of the scientific and technical instruments company’s stock valued at $72,000 after acquiring an additional 125 shares during the period. Fifth Third Bancorp increased its position in shares of Transcat by 95.8% in the 2nd quarter. Fifth Third Bancorp now owns 656 shares of the scientific and technical instruments company’s stock valued at $79,000 after acquiring an additional 321 shares during the period. Quest Partners LLC purchased a new position in Transcat in the 2nd quarter worth $109,000. Finally, Hamilton Wealth LLC acquired a new stake in Transcat during the 1st quarter worth about $212,000. 98.34% of the stock is owned by hedge funds and other institutional investors.

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.