Transcat (NASDAQ:TRNS – Get Free Report) announced its earnings results on Monday. The scientific and technical instruments company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.12), Zacks reports. The company had revenue of $67.83 million for the quarter, compared to the consensus estimate of $70.30 million. Transcat had a net margin of 5.69% and a return on equity of 8.48%. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.41 earnings per share.
Transcat Trading Down 13.5 %
Shares of NASDAQ:TRNS traded down $16.12 on Tuesday, reaching $103.39. 19,349 shares of the company traded hands, compared to its average volume of 50,484. Transcat has a 52 week low of $84.45 and a 52 week high of $147.12. The business’s 50-day simple moving average is $123.75 and its 200 day simple moving average is $122.42. The stock has a market capitalization of $946.02 million, a P/E ratio of 70.72 and a beta of 0.67.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on TRNS shares. HC Wainwright reaffirmed a “buy” rating and set a $156.00 price objective on shares of Transcat in a report on Tuesday. Craig Hallum dropped their target price on Transcat from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $151.33.
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.
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