Zacks Investment Research Upgrades Transcat (TRNS) to Buy

Transcat (NASDAQ:TRNS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The brokerage currently has a $18.00 price target on the scientific and technical instruments company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 14.29% from the company’s previous close.

According to Zacks, “Transcat, Inc. distributes test and measurement instruments and provides accredited calibration services to a variety of industries including life sciences, pharmaceutical, petroleum refining, chemical manufacturing, public utility, pulp and paper, communications, automotive and aerospace. “

TRNS has been the topic of a number of other reports. Roth Capital assumed coverage on Transcat in a research report on Friday, February 9th. They set a “buy” rating and a $20.00 price target on the stock. Singular Research upped their price target on Transcat from $15.30 to $20.00 and gave the stock a “buy” rating in a research report on Monday, February 5th.

Shares of Transcat (NASDAQ:TRNS) traded up $0.02 during trading hours on Wednesday, reaching $15.75. 700 shares of the company were exchanged, compared to its average volume of 17,007. The company has a market capitalization of $112.48, a P/E ratio of 23.16, a price-to-earnings-growth ratio of 2.81 and a beta of 0.40. Transcat has a 52 week low of $11.02 and a 52 week high of $16.49. The company has a quick ratio of 1.38, a current ratio of 1.98 and a debt-to-equity ratio of 0.50.

Transcat (NASDAQ:TRNS) last issued its quarterly earnings data on Monday, January 29th. The scientific and technical instruments company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.09. The company had revenue of $40.48 million during the quarter. Transcat had a net margin of 3.24% and a return on equity of 10.03%. equities analysts anticipate that Transcat will post 0.7 earnings per share for the current fiscal year.

In other news, Director John T. Smith sold 2,000 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $15.70, for a total transaction of $31,400.00. Following the transaction, the director now directly owns 33,100 shares of the company’s stock, valued at $519,670. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 8.80% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Northern Trust Corp increased its position in shares of Transcat by 9.5% during the second quarter. Northern Trust Corp now owns 18,062 shares of the scientific and technical instruments company’s stock worth $220,000 after purchasing an additional 1,570 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Transcat by 3.4% during the second quarter. Vanguard Group Inc. now owns 133,579 shares of the scientific and technical instruments company’s stock worth $1,623,000 after purchasing an additional 4,450 shares in the last quarter. QCI Asset Management Inc. NY increased its position in shares of Transcat by 31.1% during the third quarter. QCI Asset Management Inc. NY now owns 32,234 shares of the scientific and technical instruments company’s stock worth $437,000 after purchasing an additional 7,647 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Transcat by 3.1% during the third quarter. Dimensional Fund Advisors LP now owns 290,146 shares of the scientific and technical instruments company’s stock worth $3,960,000 after purchasing an additional 8,771 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of Transcat by 86.8% during the fourth quarter. Deutsche Bank AG now owns 33,695 shares of the scientific and technical instruments company’s stock valued at $480,000 after buying an additional 15,653 shares during the last quarter. 57.12% of the stock is currently owned by institutional investors and hedge funds.

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Transcat Company Profile

Transcat, Inc is a provider of calibration and laboratory instrument services and a distributor of professional grade test, measurement and control instrumentation. The Company conducts its business through two segments: service (Service) and distribution (Distribution). Through the Service segment, the Company offers calibration, repair, inspection, analytical qualifications, preventative maintenance and other related services, a majority of which are processed through its asset management system, CalTrak (CalTrak).

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