Transcat, Inc. (NASDAQ:TRNS) Given Average Recommendation of “Hold” by Brokerages

Transcat, Inc. (NASDAQ:TRNS) has been assigned a consensus rating of “Hold” from the five analysts that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $105.3333.

Several equities analysts recently issued reports on the stock. Zacks Research cut shares of Transcat from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 3rd. Northland Securities set a $95.00 price objective on shares of Transcat in a research report on Thursday, October 23rd. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Transcat in a research note on Monday, December 29th.

Institutional Trading of Transcat

Institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue acquired a new position in shares of Transcat during the 3rd quarter worth approximately $40,000. Lazard Asset Management LLC purchased a new stake in Transcat in the 2nd quarter worth $54,000. Parkside Financial Bank & Trust purchased a new stake in Transcat in the 2nd quarter worth $79,000. PNC Financial Services Group Inc. raised its position in Transcat by 1,118.2% during the second quarter. PNC Financial Services Group Inc. now owns 1,072 shares of the scientific and technical instruments company’s stock worth $92,000 after acquiring an additional 984 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in Transcat by 245.5% during the second quarter. Tower Research Capital LLC TRC now owns 1,123 shares of the scientific and technical instruments company’s stock valued at $97,000 after purchasing an additional 798 shares in the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

Transcat Stock Up 1.8%

Transcat stock opened at $77.99 on Friday. The business’s 50-day moving average price is $64.41 and its 200 day moving average price is $68.25. The company has a quick ratio of 1.85, a current ratio of 2.21 and a debt-to-equity ratio of 0.34. The firm has a market cap of $727.65 million, a price-to-earnings ratio of 91.75 and a beta of 0.79. Transcat has a 52 week low of $50.23 and a 52 week high of $97.08.

Transcat (NASDAQ:TRNS) last announced its quarterly earnings results on Tuesday, February 3rd. The scientific and technical instruments company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.04). The company had revenue of $83.86 million during the quarter, compared to analyst estimates of $80.99 million. Transcat had a net margin of 2.47% and a return on equity of 6.15%. As a group, sell-side analysts anticipate that Transcat will post 2.3 earnings per share for the current year.

About Transcat

Transcat, Inc (NASDAQ: TRNS) is a leading provider of calibration, laboratory, and metrology services in North America. Founded in 1964 and headquartered in Ronkonkoma, New York, the company specializes in ensuring the accuracy and compliance of measurement instruments across a wide range of industries. Transcat operates a network of ISO/IEC 17025–accredited laboratories and offers on-site field calibration, instrument repair, and preventive maintenance services.

In addition to its calibration services, Transcat distributes precision instrumentation and related software solutions from top manufacturers.