Transcat (NASDAQ:TRNS) Lowered to Sell Rating by StockNews.com

StockNews.com cut shares of Transcat (NASDAQ:TRNS) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning.

A number of other research firms have also issued reports on TRNS. HC Wainwright reissued a “buy” rating and issued a $156.00 target price on shares of Transcat in a report on Tuesday. Craig Hallum dropped their price objective on shares of Transcat from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Transcat presently has a consensus rating of “Hold” and a consensus target price of $127.25.

Transcat Stock Performance

Shares of Transcat stock opened at $95.57 on Tuesday. The company has a market capitalization of $874.47 million, a P/E ratio of 48.27 and a beta of 0.67. Transcat has a 1 year low of $84.45 and a 1 year high of $147.12. The company’s fifty day moving average is $122.34 and its two-hundred day moving average is $121.99.

Transcat (NASDAQ:TRNS) last released its quarterly earnings results on Monday, October 28th. The scientific and technical instruments company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.12). The company had revenue of $67.83 million for the quarter, compared to analysts’ expectations of $70.30 million. Transcat had a return on equity of 7.62% and a net margin of 6.63%. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.41 EPS. As a group, equities analysts expect that Transcat will post 2.06 earnings per share for the current year.

Institutional Investors Weigh In On Transcat

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. DekaBank Deutsche Girozentrale acquired a new position in shares of Transcat during the 2nd quarter worth $40,000. nVerses Capital LLC acquired a new position in Transcat during the third quarter worth about $60,000. First Horizon Advisors Inc. increased its holdings in Transcat by 26.4% in the second quarter. First Horizon Advisors Inc. now owns 599 shares of the scientific and technical instruments company’s stock valued at $72,000 after buying an additional 125 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Transcat by 95.8% during 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 during the period. Finally, Quest Partners LLC purchased a new stake in shares of Transcat during the 2nd quarter worth approximately $109,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

Transcat Company Profile

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.