Wall Street Zen Upgrades Transcat (NASDAQ:TRNS) to Hold

Transcat (NASDAQ:TRNS) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Sunday.

A number of other brokerages also recently weighed in on TRNS. Weiss Ratings raised Transcat from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, May 28th. Zacks Research raised Transcat from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $105.33.

Transcat Price Performance

NASDAQ TRNS opened at $92.23 on Friday. Transcat has a fifty-two week low of $50.23 and a fifty-two week high of $94.76. The stock’s 50-day moving average is $82.28 and its two-hundred day moving average is $73.43. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.33 and a quick ratio of 1.99. The firm has a market cap of $861.43 million, a P/E ratio of 159.02 and a beta of 0.71.

Transcat (NASDAQ:TRNS) last announced 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 company had revenue of $89.33 million during the quarter, compared to analysts’ expectations of $89.79 million. Transcat had a return on equity of 5.84% and a net margin of 1.62%. On average, analysts anticipate that Transcat will post 1.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Transcat

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Transcat by 0.4% in the third quarter. Vanguard Group Inc. now owns 530,771 shares of the scientific and technical instruments company’s stock worth $38,852,000 after purchasing an additional 2,041 shares during the period. Royce & Associates LP boosted its stake in Transcat by 15.3% during the 4th quarter. Royce & Associates LP now owns 390,546 shares of the scientific and technical instruments company’s stock valued at $22,156,000 after purchasing an additional 51,774 shares during the period. Dimensional Fund Advisors LP boosted its stake in Transcat by 3.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 262,033 shares of the scientific and technical instruments company’s stock valued at $19,244,000 after purchasing an additional 9,266 shares during the period. Wellington Management Group LLP boosted its stake in Transcat by 677.7% during the 4th quarter. Wellington Management Group LLP now owns 248,539 shares of the scientific and technical instruments company’s stock valued at $14,100,000 after purchasing an additional 216,579 shares during the period. Finally, Bamco Inc. NY grew its holdings in Transcat by 6.2% in the 4th quarter. Bamco Inc. NY now owns 203,477 shares of the scientific and technical instruments company’s stock valued at $11,543,000 after buying an additional 11,911 shares during the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

Transcat Company Profile

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.