Transcat (NASDAQ:TRNS) Lowered to Sell Rating by Wall Street Zen

Transcat (NASDAQ:TRNS) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Several other equities research analysts also recently commented on the company. Zacks Research upgraded Transcat from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. Weiss Ratings upgraded Transcat from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.33.

Transcat Stock Performance

Shares of Transcat stock opened at $92.88 on Friday. Transcat has a one year low of $50.23 and a one year high of $94.76. The firm has a market capitalization of $867.50 million, a price-to-earnings ratio of 160.14 and a beta of 0.71. The business has a 50-day simple moving average of $81.27 and a 200 day simple moving average of $72.14. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.33 and a quick ratio of 1.99.

Transcat (NASDAQ:TRNS) last posted its quarterly earnings results on Tuesday, May 26th. The scientific and technical instruments company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. The business had revenue of $89.33 million for the quarter, compared to the consensus estimate of $89.79 million. Transcat had a return on equity of 5.84% and a net margin of 1.62%. On average, research analysts anticipate that Transcat will post 1.71 earnings per share for the current fiscal year.

Institutional Trading of Transcat

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its holdings in shares of Transcat by 112.6% in the fourth quarter. SG Americas Securities LLC now owns 27,732 shares of the scientific and technical instruments company’s stock valued at $1,573,000 after purchasing an additional 14,688 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Transcat by 259.1% during the third quarter. JPMorgan Chase & Co. now owns 30,719 shares of the scientific and technical instruments company’s stock worth $2,249,000 after buying an additional 22,164 shares in the last quarter. Roubaix Capital LLC bought a new stake in Transcat during the third quarter worth $2,309,000. Bamco Inc. NY raised its position in Transcat by 14.2% in the 3rd quarter. Bamco Inc. NY now owns 191,566 shares of the scientific and technical instruments company’s stock valued at $14,023,000 after buying an additional 23,853 shares during the last quarter. Finally, King Luther Capital Management Corp raised its position in Transcat by 212.8% in the 3rd quarter. King Luther Capital Management Corp now owns 36,750 shares of the scientific and technical instruments company’s stock valued at $2,690,000 after buying an additional 25,000 shares during the last quarter. 98.34% of the stock is owned by institutional investors.

About Transcat

Transcat, Inc (NASDAQ: TRNS) is a leading provider of calibration, laboratory, and metrology services in North America. Founded in 1964 and headquartered in Ronkonkoma, New York, the company specializes in ensuring the accuracy and compliance of measurement instruments across a wide range of industries. Transcat operates a network of ISO/IEC 17025–accredited laboratories and offers on-site field calibration, instrument repair, and preventive maintenance services.

In addition to its calibration services, Transcat distributes precision instrumentation and related software solutions from top manufacturers.