Transcat (NASDAQ:TRNS) Given Buy Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Transcat (NASDAQ:TRNS) in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have a $156.00 price objective on the scientific and technical instruments company’s stock.

Separately, Craig Hallum dropped their target price on shares of Transcat from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $151.33.

Transcat Stock Performance

Shares of TRNS opened at $99.45 on Tuesday. Transcat has a one year low of $84.45 and a one year high of $147.12. The stock has a 50-day moving average price of $123.33 and a 200 day moving average price of $122.34. The company has a market capitalization of $909.97 million, a P/E ratio of 58.85 and a beta of 0.67.

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 analysts’ expectations of $70.30 million. Transcat had a net margin of 5.69% and a return on equity of 8.48%. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.41 earnings per share. As a group, equities research analysts forecast that Transcat will post 2.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Transcat

Large investors have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale bought a new stake in Transcat during the second quarter valued at $40,000. nVerses Capital LLC acquired a new position in shares of Transcat in the 3rd quarter valued at about $60,000. First Horizon Advisors Inc. grew its position in shares of 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 valued at $72,000 after buying an additional 125 shares during the last quarter. Fifth Third Bancorp raised its stake in Transcat by 95.8% during the second quarter. Fifth Third Bancorp now owns 656 shares of the scientific and technical instruments company’s stock worth $79,000 after acquiring an additional 321 shares during the period. Finally, Quest Partners LLC bought a new position in Transcat in the second quarter worth about $109,000. 98.34% of the stock is currently owned by institutional investors.

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.