Transcat (NASDAQ:TRNS) Raised to "Hold" at Wall Street Zen

Wall Street Zen upgraded shares of Transcat (NASDAQ:TRNS - Free Report) from a sell rating to a hold rating in a report issued on Wednesday morning.

Several other research analysts have also weighed in on TRNS. Oppenheimer lowered shares of Transcat from an "outperform" rating to a "market perform" rating in a research note on Wednesday, January 29th. HC Wainwright reaffirmed a "buy" rating and set a $116.00 price objective (up previously from $106.00) on shares of Transcat in a research report on Wednesday, May 21st. Finally, Northland Securities reissued a "market perform" rating and issued a $85.00 target price (down previously from $110.00) on shares of Transcat in a research report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $114.00.

Transcat Trading Down 1.1%

Shares of TRNS traded down $0.94 during mid-day trading on Wednesday, reaching $87.51. The stock had a trading volume of 106,373 shares, compared to its average volume of 82,341. Transcat has a 52-week low of $67.56 and a 52-week high of $147.12. The firm has a market cap of $814.63 million, a price-to-earnings ratio of 47.30 and a beta of 0.69. The business's fifty day moving average is $81.35 and its 200 day moving average is $89.11. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.42 and a quick ratio of 1.98.

Transcat (NASDAQ:TRNS - Get Free Report) last posted its quarterly earnings results on Monday, May 19th. The scientific and technical instruments company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.02). The firm had revenue of $77.13 million during the quarter, compared to analysts' expectations of $76.40 million. Transcat had a net margin of 6.22% and a return on equity of 7.23%. Transcat's revenue for the quarter was up 8.8% on a year-over-year basis. On average, sell-side analysts predict that Transcat will post 2.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TRNS. Jones Financial Companies Lllp increased its stake in Transcat by 686.7% during the 4th quarter. Jones Financial Companies Lllp now owns 354 shares of the scientific and technical instruments company's stock worth $37,000 after buying an additional 309 shares during the period. Quantbot Technologies LP acquired a new position in shares of Transcat in the first quarter worth $76,000. Aquatic Capital Management LLC increased its position in shares of Transcat by 1,052.0% during the fourth quarter. Aquatic Capital Management LLC now owns 1,152 shares of the scientific and technical instruments company's stock worth $122,000 after acquiring an additional 1,052 shares during the period. State of Wyoming purchased a new stake in shares of Transcat during the first quarter worth $95,000. Finally, Morgan Dempsey Capital Management LLC acquired a new stake in shares of Transcat in the fourth quarter valued at $143,000. Hedge funds and other institutional investors own 98.34% of the company's stock.

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.