Transcat (NASDAQ:TRNS) Stock Rating Lowered by Zacks Research

Transcat (NASDAQ:TRNS) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Monday,Zacks.com reports.

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Transcat in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $105.33.

Transcat Stock Up 0.1%

Shares of Transcat stock opened at $75.52 on Monday. The business has a 50-day moving average of $73.66 and a 200-day moving average of $66.79. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.21 and a quick ratio of 1.85. The company has a market capitalization of $704.75 million, a PE ratio of 88.85 and a beta of 0.71. Transcat has a 1-year low of $50.23 and a 1-year high of $97.08.

Transcat (NASDAQ:TRNS) last announced its earnings results on Tuesday, February 3rd. The scientific and technical instruments company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.04). The business had revenue of $83.86 million for 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, equities analysts forecast that Transcat will post 2.3 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 the business. Roubaix Capital LLC purchased a new position in Transcat during the 3rd quarter worth approximately $2,309,000. SG Americas Securities LLC grew its position in Transcat by 112.6% during the 4th quarter. SG Americas Securities LLC now owns 27,732 shares of the scientific and technical instruments company’s stock worth $1,573,000 after purchasing an additional 14,688 shares in the last quarter. Bamco Inc. NY grew its position in Transcat by 14.2% during the 3rd quarter. Bamco Inc. NY now owns 191,566 shares of the scientific and technical instruments company’s stock worth $14,023,000 after purchasing an additional 23,853 shares in the last quarter. JPMorgan Chase & Co. grew its position in Transcat by 259.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 30,719 shares of the scientific and technical instruments company’s stock worth $2,249,000 after purchasing an additional 22,164 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC grew its position in Transcat by 45.4% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 85,371 shares of the scientific and technical instruments company’s stock worth $6,249,000 after purchasing an additional 26,659 shares in the last quarter. Institutional investors own 98.34% of the company’s stock.

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.