Transcat (NASDAQ:TRNS) Releases Earnings Results, Beats Expectations By $0.13 EPS

Key Points

• Transcat beat quarterly expectations: The company reported earnings of $0.51 per share, $0.13 above consensus, while revenue reached $92.95 million versus estimates of $86.55 million.
• Shares rose to $91.89 during Tuesday trading, near the company’s 12-month high of $95.22. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $105.50.
• Institutional investors own 98.34% of Transcat’s stock, with several funds recently initiating or increasing positions.

Transcat (NASDAQ:TRNS - Get Free Report) announced its quarterly earnings data on Tuesday. The scientific and technical instruments company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.13, FiscalAI reports. Transcat had a return on equity of 5.84% and a net margin of 1.62%.The business had revenue of $92.95 million during the quarter, compared to analyst estimates of $86.55 million.

Transcat Price Performance

Transcat stock traded up $2.31 during trading hours on Tuesday, hitting $91.89. 119,663 shares of the stock were exchanged, compared to its average volume of 150,163. The stock has a market capitalization of $860.09 million, a P/E ratio of 158.43 and a beta of 0.68. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.99 and a current ratio of 2.33. Transcat has a 12 month low of $50.23 and a 12 month high of $95.22. The business's 50-day moving average is $88.54 and its two-hundred day moving average is $78.89.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Zacks Research upgraded shares of Transcat from a "strong sell" rating to a "hold" rating in a research note on Friday, May 15th. Wall Street Zen upgraded Transcat from a "sell" rating to a "hold" rating in a report on Sunday, June 28th. Finally, Weiss Ratings raised Transcat from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $105.50.

Institutional Trading of Transcat

Institutional investors and hedge funds have recently modified their holdings of the stock. Lazard Asset Management LLC acquired a new stake in Transcat during the 2nd quarter valued at $54,000. Tower Research Capital LLC TRC boosted its position in Transcat by 245.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,123 shares of the scientific and technical instruments company's stock worth $97,000 after buying an additional 798 shares during the period. Marshall Wace LLP acquired a new stake in Transcat in the fourth quarter valued at $236,000. Balyasny Asset Management L.P. bought a new position in shares of Transcat during the fourth quarter worth about $247,000. Finally, Boothbay Fund Management LLC bought a new position in Transcat during the 3rd quarter worth approximately $368,000. 98.34% of the stock is owned by institutional investors.

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.

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