Transcat (NASDAQ:TRNS) Raised to “Hold” at StockNews.com

Transcat (NASDAQ:TRNS) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

A number of other brokerages also recently issued reports on TRNS. Oppenheimer reiterated an “outperform” rating and set a $130.00 price target (down previously from $155.00) on shares of Transcat in a research report on Wednesday, October 30th. HC Wainwright restated a “buy” rating and issued a $156.00 price objective on shares of Transcat in a report on Tuesday, October 29th. Craig Hallum upped their price objective on shares of Transcat from $113.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Finally, Northland Securities reduced their price objective on Transcat from $130.00 to $110.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Transcat currently has an average rating of “Moderate Buy” and an average price target of $130.25.

Transcat Price Performance

NASDAQ:TRNS traded down $12.60 during trading hours on Tuesday, hitting $86.53. 449,813 shares of the company were exchanged, compared to its average volume of 110,454. The company’s 50 day moving average price is $104.98 and its 200-day moving average price is $115.11. The stock has a market capitalization of $796.08 million, a price-to-earnings ratio of 43.70 and a beta of 0.71. Transcat has a 52-week low of $75.18 and a 52-week high of $147.12.

Transcat (NASDAQ:TRNS) last issued its quarterly earnings results on Monday, January 27th. The scientific and technical instruments company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.07. Transcat had a net margin of 6.63% and a return on equity of 7.36%. During the same period in the prior year, the firm posted $0.56 EPS. On average, equities analysts predict that Transcat will post 2.44 earnings per share for the current year.

Hedge Funds Weigh In On Transcat

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Linden Thomas Advisory Services LLC increased its holdings in Transcat by 23.2% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 6,477 shares of the scientific and technical instruments company’s stock worth $685,000 after purchasing an additional 1,219 shares during the period. SG Americas Securities LLC acquired a new stake in Transcat in the fourth quarter valued at $182,000. Annex Advisory Services LLC lifted its holdings in Transcat by 47.6% during the 4th quarter. Annex Advisory Services LLC now owns 24,461 shares of the scientific and technical instruments company’s stock worth $2,587,000 after buying an additional 7,893 shares during the last quarter. Moody National Bank Trust Division increased its holdings in shares of Transcat by 76.9% in the 4th quarter. Moody National Bank Trust Division now owns 10,235 shares of the scientific and technical instruments company’s stock valued at $1,082,000 after acquiring an additional 4,450 shares during the last quarter. Finally, Diversified Trust Co grew its position in shares of Transcat by 53.6% during the fourth quarter. Diversified Trust Co now owns 6,120 shares of the scientific and technical instruments company’s stock worth $647,000 after acquiring an additional 2,135 shares during the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

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.