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

Transcat, Inc. (NASDAQ:TRNS) has earned a consensus rating of “Moderate Buy” from the five analysts that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $151.33.

Several analysts recently issued reports on the stock. Craig Hallum reduced their price objective 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 reaffirmed a “buy” rating and set a $156.00 price objective on shares of Transcat in a research report on Tuesday, July 30th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Conestoga Capital Advisors LLC increased its stake in Transcat by 0.3% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 769,361 shares of the scientific and technical instruments company’s stock worth $92,077,000 after buying an additional 2,155 shares during the period. Wasatch Advisors LP raised its stake in shares of Transcat by 7.9% in the first quarter. Wasatch Advisors LP now owns 756,220 shares of the scientific and technical instruments company’s stock valued at $84,266,000 after acquiring an additional 55,121 shares in the last quarter. Hood River Capital Management LLC raised its stake in shares of Transcat by 21.6% in the second quarter. Hood River Capital Management LLC now owns 196,838 shares of the scientific and technical instruments company’s stock valued at $23,558,000 after acquiring an additional 34,947 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Transcat by 28.8% in the third 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 purchasing an additional 17,743 shares during the period. Finally, Silvercrest Asset Management Group LLC grew its stake in Transcat by 4.6% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 58,381 shares of the scientific and technical instruments company’s stock worth $6,505,000 after purchasing an additional 2,542 shares in the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Transcat Stock Down 3.0 %

NASDAQ TRNS opened at $119.76 on Friday. Transcat has a 52 week low of $84.45 and a 52 week high of $147.12. The business’s fifty day simple moving average is $123.81 and its 200-day simple moving average is $122.26. The firm has a market cap of $1.09 billion, a PE ratio of 75.32 and a beta of 0.67.

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

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.