Transcat (NASDAQ:TRNS) Price Target Raised to $125.00

Transcat (NASDAQ:TRNS) had its price objective raised by equities researchers at Craig Hallum from $113.00 to $125.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the scientific and technical instruments company’s stock. Craig Hallum’s target price would suggest a potential upside of 13.21% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. Oppenheimer restated an “outperform” rating and issued a $130.00 price target (down previously from $155.00) on shares of Transcat in a research report on Wednesday, October 30th. Northland Securities decreased their target price on Transcat from $130.00 to $110.00 and set a “market perform” rating for the company in a research report on Wednesday, October 30th. HC Wainwright reissued a “buy” rating and set a $156.00 price target on shares of Transcat in a research report on Tuesday, October 29th. Finally, StockNews.com lowered Transcat from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $130.25.

Transcat Stock Up 1.6 %

Transcat stock traded up $1.73 during midday trading on Thursday, hitting $110.41. The company’s stock had a trading volume of 9,978 shares, compared to its average volume of 54,916. Transcat has a 12 month low of $94.29 and a 12 month high of $147.12. The company has a market capitalization of $1.02 billion, a PE ratio of 55.76 and a beta of 0.70. The stock’s 50-day moving average price is $111.58 and its 200-day moving average price is $119.71.

Transcat (NASDAQ:TRNS) last released its 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 for the quarter, compared to analyst estimates of $70.30 million. Transcat had a net margin of 6.63% and a return on equity of 7.36%. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.41 earnings per share. As a group, equities analysts anticipate that Transcat will post 1.76 EPS for the current year.

Institutional Investors Weigh In On Transcat

Hedge funds and other institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its position in shares of Transcat by 13.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,347 shares of the scientific and technical instruments company’s stock worth $262,000 after acquiring an additional 284 shares during the period. First Horizon Advisors Inc. lifted its position 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 worth $72,000 after buying an additional 125 shares in the last quarter. Fifth Third Bancorp increased its position in 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 in the last quarter. Calamos Advisors LLC lifted its position in shares of Transcat by 76.0% during the second quarter. Calamos Advisors LLC now owns 15,441 shares of the scientific and technical instruments company’s stock worth $1,848,000 after purchasing an additional 6,667 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Transcat by 23.5% during the second quarter. Bank of New York Mellon Corp now owns 33,181 shares of the scientific and technical instruments company’s stock worth $3,971,000 after acquiring an additional 6,315 shares during the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

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.