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

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

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

Transcat Stock Performance

NASDAQ:TRNS traded down $0.94 during trading hours on Wednesday, reaching $87.51. The stock had a trading volume of 106,373 shares, compared to its average volume of 82,552. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.98 and a current ratio of 2.42. The stock has a 50 day simple moving average of $81.35 and a 200 day simple moving average of $88.84. Transcat has a 12-month low of $67.56 and a 12-month high of $147.12. The stock has a market cap of $815.42 million, a P/E ratio of 47.30 and a beta of 0.69.

Transcat (NASDAQ:TRNS - Get Free Report) last released 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 7.23% and a net margin of 6.22%. The firm had revenue of $77.13 million during the quarter, compared to analysts' expectations of $76.40 million. Transcat's quarterly revenue was up 8.8% compared to the same quarter last year. On average, research analysts forecast that Transcat will post 2.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Transcat

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TRNS. T. Rowe Price Investment Management Inc. grew its position in Transcat by 178.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 518,597 shares of the scientific and technical instruments company's stock worth $54,837,000 after buying an additional 332,064 shares in the last quarter. Champlain Investment Partners LLC grew its position in Transcat by 35.7% during the fourth quarter. Champlain Investment Partners LLC now owns 555,650 shares of the scientific and technical instruments company's stock worth $58,754,000 after buying an additional 146,150 shares in the last quarter. Royal Bank of Canada grew its position in 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 worth $18,348,000 after buying an additional 133,013 shares in the last quarter. Granahan Investment Management LLC grew its position in Transcat by 132.0% during the fourth quarter. Granahan Investment Management LLC now owns 188,763 shares of the scientific and technical instruments company's stock worth $19,960,000 after buying an additional 107,389 shares in the last quarter. Finally, Bessemer Group Inc. grew its position in Transcat by 1,692.4% during the fourth quarter. Bessemer Group Inc. now owns 109,608 shares of the scientific and technical instruments company's stock worth $11,590,000 after buying an additional 103,493 shares in the last quarter. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

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.