Transcat (NASDAQ:TRNS) Receives "Buy" Rating from HC Wainwright

Key Points

• HC Wainwright has restated a "buy" rating for Transcat (NASDAQ:TRNS) with a price objective of $116.00, indicating a potential upswing of 34.84% from its previous close.
• Transcat's recent quarterly earnings report showed an EPS of $0.59, exceeding analyst expectations of $0.40 with revenues of $76.42 million.
• Institutional investors hold a significant stake in Transcat, with 98.34% of the company's stock owned by this group as of recent reports.

HC Wainwright reissued their buy rating on shares of Transcat (NASDAQ:TRNS - Free Report) in a research note published on Friday,Benzinga reports. The brokerage currently has a $116.00 target price on the scientific and technical instruments company's stock. HC Wainwright also issued estimates for Transcat's FY2027 earnings at $2.45 EPS.

Several other research analysts have also recently issued reports on the stock. Lake Street Capital assumed coverage on shares of Transcat in a report on Thursday, July 10th. They set a "buy" rating and a $105.00 price target for the company. Wall Street Zen upgraded shares of Transcat from a "sell" rating to a "hold" rating in a report on Wednesday, May 28th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Transcat has an average rating of "Moderate Buy" and a consensus price target of $112.20.

Transcat Stock Performance

NASDAQ TRNS traded up $4.40 during trading hours on Friday, hitting $90.43. 84,187 shares of the stock were exchanged, compared to its average volume of 86,340. The company has a market cap of $842.81 million, a price-to-earnings ratio of 63.24 and a beta of 0.71. Transcat has a 12-month low of $67.56 and a 12-month high of $133.72. The stock has a 50-day moving average of $82.82 and a 200 day moving average of $80.69. 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 (NASDAQ:TRNS - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.19. The firm had revenue of $76.42 million during 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%. As a group, equities research analysts forecast that Transcat will post 2.3 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Lazard Asset Management LLC purchased a new position in shares of Transcat in the second quarter valued at $54,000. Parkside Financial Bank & Trust purchased a new position in shares of Transcat in the second quarter valued at $79,000. Quantbot Technologies LP purchased a new position in shares of Transcat in the first quarter valued at $76,000. PNC Financial Services Group Inc. increased its position in shares of Transcat by 1,118.2% in the second quarter. PNC Financial Services Group Inc. now owns 1,072 shares of the scientific and technical instruments company's stock valued at $92,000 after buying an additional 984 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of Transcat by 245.5% in the second quarter. Tower Research Capital LLC TRC now owns 1,123 shares of the scientific and technical instruments company's stock valued at $97,000 after buying an additional 798 shares in the last quarter. Hedge funds and other institutional investors own 98.34% of the company's stock.

About Transcat

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.