Transcat (NASDAQ:TRNS) Issues Earnings Results, Misses Expectations By $0.02 EPS

Transcat (NASDAQ:TRNS) posted its quarterly earnings results on Monday. The scientific and technical instruments company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.02), Zacks reports. Transcat had a net margin of 6.22% and a return on equity of 7.23%. The company had revenue of $77.13 million during the quarter, compared to the consensus estimate of $76.40 million. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year.

Transcat Trading Up 16.2%

Shares of Transcat stock opened at $94.36 on Wednesday. The company has a market cap of $878.40 million, a price-to-earnings ratio of 51.01 and a beta of 0.69. Transcat has a 1 year low of $67.56 and a 1 year high of $147.12. The company’s fifty day simple moving average is $78.33 and its 200-day simple moving average is $89.84. The company has a current ratio of 2.42, a quick ratio of 1.98 and a debt-to-equity ratio of 0.14.

Institutional Trading of Transcat

A hedge fund recently raised its stake in Transcat stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Transcat, Inc. (NASDAQ:TRNS) by 6.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,462 shares of the scientific and technical instruments company’s stock after acquiring an additional 325 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.06% of Transcat worth $407,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on TRNS shares. Oppenheimer lowered shares of Transcat from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. HC Wainwright lifted their target price on Transcat from $106.00 to $116.00 and gave the company a “buy” rating in a research note on Wednesday. StockNews.com upgraded Transcat from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Northland Securities restated a “market perform” rating and set a $85.00 target price (down from $110.00) on shares of Transcat in a report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Transcat has a consensus rating of “Hold” and an average target price of $114.00.

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.