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

Transcat, Inc. (NASDAQ:TRNS) has received an average rating of “Moderate Buy” from the five ratings firms that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $151.33.

A number of brokerages have issued reports on TRNS. Craig Hallum reduced 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. HC Wainwright reiterated a “buy” rating and issued a $156.00 target price on shares of Transcat in a research report on Tuesday, July 30th.

Institutional Trading of Transcat

Several hedge funds have recently made changes to their positions in TRNS. DekaBank Deutsche Girozentrale bought a new stake in Transcat during the second quarter worth approximately $40,000. First Horizon Advisors Inc. raised its holdings in Transcat by 26.4% during 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 buying an additional 125 shares during the period. Fifth Third Bancorp lifted its position in Transcat by 95.8% in the second quarter. Fifth Third Bancorp now owns 656 shares of the scientific and technical instruments company’s stock worth $79,000 after buying an additional 321 shares during the last quarter. Quest Partners LLC purchased a new position in Transcat during the second quarter worth $109,000. Finally, Hamilton Wealth LLC bought a new position in Transcat during the first quarter valued at $212,000. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Transcat Stock Performance

Shares of TRNS stock opened at $121.50 on Wednesday. The stock has a fifty day simple moving average of $123.29 and a two-hundred day simple moving average of $120.51. The firm has a market capitalization of $1.11 billion, a PE ratio of 76.42 and a beta of 0.67. Transcat has a 52-week low of $84.45 and a 52-week high of $147.12.

Transcat (NASDAQ:TRNS) last issued its earnings results on Monday, July 29th. The scientific and technical instruments company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.20. Transcat had a return on equity of 8.48% and a net margin of 5.69%. The company had revenue of $66.70 million for the quarter, compared to the consensus estimate of $69.35 million. During the same quarter last year, the company earned $0.38 EPS. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. On average, sell-side analysts forecast that Transcat will post 2.06 EPS for the current fiscal year.

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.