Transcat, Inc. (NASDAQ:TRNS) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Transcat, Inc. has received an average rating of "Moderate Buy" from five brokerages, with a target price of $112.20 for the next year.
• Several institutional investors have significantly increased their positions in Transcat, with Riverbridge Partners raising its stake by 94.3% during the second quarter.
• In its latest earnings report, Transcat exceeded expectations with a reported EPS of $0.59 and revenues of $76.42 million, surpassing analysts' estimates.

Transcat, Inc. (NASDAQ:TRNS - Get Free Report) has been given an average recommendation of "Moderate Buy" by the five brokerages that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $112.20.

A number of analysts have commented on TRNS shares. Lake Street Capital started coverage on shares of Transcat in a research report on Thursday, July 10th. They set a "buy" rating and a $105.00 price target 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. Finally, HC Wainwright reaffirmed a "buy" rating and set a $116.00 price target on shares of Transcat in a research report on Friday, August 22nd.

Hedge Funds Weigh In On Transcat

Several institutional investors have recently made changes to their positions in TRNS. Riverbridge Partners LLC raised its holdings in shares of Transcat by 94.3% during the second quarter. Riverbridge Partners LLC now owns 440,747 shares of the scientific and technical instruments company's stock valued at $37,887,000 after purchasing an additional 213,927 shares during the period. Royal Bank of Canada raised its holdings in shares of Transcat by 328.4% during the fourth quarter. Royal Bank of Canada now owns 173,514 shares of the scientific and technical instruments company's stock valued at $18,348,000 after purchasing an additional 133,013 shares during the period. Conestoga Capital Advisors LLC raised its holdings in shares of Transcat by 13.7% during the second quarter. Conestoga Capital Advisors LLC now owns 1,088,471 shares of the scientific and technical instruments company's stock valued at $93,565,000 after purchasing an additional 131,217 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in shares of Transcat by 17.1% during the first quarter. T. Rowe Price Investment Management Inc. now owns 607,360 shares of the scientific and technical instruments company's stock valued at $45,218,000 after purchasing an additional 88,763 shares during the period. Finally, Bessemer Group Inc. raised its holdings in shares of Transcat by 64.3% during the first quarter. Bessemer Group Inc. now owns 180,069 shares of the scientific and technical instruments company's stock valued at $13,404,000 after purchasing an additional 70,461 shares during the period. Institutional investors and hedge funds own 98.34% of the company's stock.

Transcat Stock Performance

Shares of Transcat stock opened at $74.37 on Tuesday. The company has a quick ratio of 2.36, a current ratio of 2.92 and a debt-to-equity ratio of 0.11. Transcat has a twelve month low of $67.56 and a twelve month high of $133.40. The stock has a market cap of $693.13 million, a price-to-earnings ratio of 52.01 and a beta of 0.72. The company's fifty day moving average is $80.34 and its 200 day moving average is $80.52.

Transcat (NASDAQ:TRNS - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.59 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.19. The business had revenue of $76.42 million for the quarter, compared to analysts' expectations of $72.28 million. Transcat had a net margin of 4.64% and a return on equity of 6.66%. Sell-side analysts forecast that Transcat will post 2.3 EPS for the current year.

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.

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