Lake Street Capital Initiates Coverage on Transcat (NASDAQ:TRNS)

Lake Street Capital initiated coverage on shares of Transcat (NASDAQ:TRNS - Free Report) in a report released on Thursday, Marketbeat Ratings reports. The firm issued a buy rating and a $105.00 price objective on the scientific and technical instruments company's stock.

A number of other equities analysts have also issued reports on the stock. Wall Street Zen raised shares of Transcat from a "sell" rating to a "hold" rating in a research report on Wednesday, May 28th. HC Wainwright reaffirmed a "buy" rating and set a $116.00 target price on shares of Transcat in a research report on Wednesday, June 25th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Transcat has an average rating of "Moderate Buy" and a consensus target price of $112.20.

Transcat Stock Performance

Shares of Transcat stock traded down $0.80 on Thursday, reaching $86.59. The stock had a trading volume of 76,227 shares, compared to its average volume of 91,831. The business's 50-day moving average price is $83.67 and its two-hundred day moving average price is $83.96. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.87 and a current ratio of 2.29. Transcat has a fifty-two week low of $67.56 and a fifty-two week high of $147.12. The stock has a market cap of $807.02 million, a P/E ratio of 55.51 and a beta of 0.73.

Transcat (NASDAQ:TRNS - Get Free Report) last announced its earnings results on Monday, May 19th. The scientific and technical instruments company reported $0.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.66 by ($0.02). Transcat had a return on equity of 6.47% and a net margin of 5.21%. The company had revenue of $77.13 million for 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. On average, sell-side analysts forecast that Transcat will post 2.3 EPS for the current year.

Institutional Trading of Transcat

Several institutional investors have recently made changes to their positions in the business. Jones Financial Companies Lllp lifted its stake in Transcat by 686.7% during the fourth quarter. Jones Financial Companies Lllp now owns 354 shares of the scientific and technical instruments company's stock worth $37,000 after purchasing an additional 309 shares during the period. Quantbot Technologies LP acquired a new position in shares of Transcat in the 1st quarter worth approximately $76,000. State of Wyoming bought a new position in shares of Transcat during the 1st quarter worth approximately $95,000. Aquatic Capital Management LLC boosted its stake in Transcat by 1,052.0% in the 4th quarter. Aquatic Capital Management LLC now owns 1,152 shares of the scientific and technical instruments company's stock valued at $122,000 after buying an additional 1,052 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Transcat by 10,137.5% in the 1st quarter. GAMMA Investing LLC now owns 1,638 shares of the scientific and technical instruments company's stock valued at $122,000 after buying an additional 1,622 shares in the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

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.