Transcat’s (TRNS) “Outperform” Rating Reaffirmed at Oppenheimer

Transcat (NASDAQ:TRNS)‘s stock had its “outperform” rating reiterated by Oppenheimer in a note issued to investors on Wednesday, Benzinga reports. They currently have a $130.00 price objective on the scientific and technical instruments company’s stock, down from their prior price objective of $155.00. Oppenheimer’s target price indicates a potential upside of 30.71% from the company’s current price.

Other analysts have also recently issued reports about the stock. HC Wainwright reaffirmed a “buy” rating and set a $156.00 price target on shares of Transcat in a research report on Tuesday. StockNews.com lowered shares of Transcat from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Craig Hallum decreased their price objective on shares of Transcat from $138.00 to $113.00 and set a “buy” rating for the company in a report on Wednesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $133.00.

Transcat Stock Performance

Transcat stock traded up $0.01 during midday trading on Wednesday, reaching $99.46. 147,071 shares of the company were exchanged, compared to its average volume of 52,021. The firm’s 50-day simple moving average is $123.33 and its 200-day simple moving average is $122.34. Transcat has a 1 year low of $84.45 and a 1 year high of $147.12. The company has a market capitalization of $910.06 million, a price-to-earnings ratio of 58.85 and a beta of 0.67.

Transcat (NASDAQ:TRNS) last posted its quarterly earnings results on Monday, October 28th. The scientific and technical instruments company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.12). The business had revenue of $67.83 million during the quarter, compared to analysts’ expectations of $70.30 million. Transcat had a net margin of 5.69% and a return on equity of 8.48%. The company’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.41 EPS. On average, analysts forecast that Transcat will post 2.06 EPS for the current fiscal year.

Institutional Investors Weigh In On Transcat

A number of hedge funds have recently made changes to their positions in TRNS. Conestoga Capital Advisors LLC lifted its position in Transcat by 17.9% in 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 purchasing an additional 137,830 shares during the period. Hood River Capital Management LLC boosted its position in shares of Transcat by 21.6% during the 2nd 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 purchasing an additional 34,947 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Transcat by 28.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 79,303 shares of the scientific and technical instruments company’s stock worth $9,577,000 after purchasing an additional 17,743 shares during the last quarter. Raymond James & Associates raised its holdings in shares of Transcat by 157.2% in the 3rd quarter. Raymond James & Associates now owns 20,651 shares of the scientific and technical instruments company’s stock worth $2,494,000 after purchasing an additional 12,622 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its stake in Transcat by 208.3% during the first quarter. Janus Henderson Group PLC now owns 10,297 shares of the scientific and technical instruments company’s stock valued at $1,147,000 after purchasing an additional 6,957 shares during the last quarter. 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.