Transcat (NASDAQ:TRNS) Upgraded at Zacks Research

Key Points

• The stock of Transcat (NASDAQ:TRNS) was upgraded from a "hold" to a "strong-buy" rating by Zacks Research, indicating positive analyst sentiment.
• Transcat's latest quarterly earnings exceeded expectations, reporting $0.59 EPS against an anticipated $0.40, alongside a revenue of $76.42 million.
• Institutional investors hold a significant stake in Transcat, with growth in ownership reported by several firms, reflecting strong institutional interest in the company's stock.

Transcat (NASDAQ:TRNS - Get Free Report) was upgraded by investment analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report issued on Tuesday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. HC Wainwright reissued a "buy" rating and issued a $116.00 price target on shares of Transcat in a research note on Friday, August 22nd. Weiss Ratings reissued a "hold (c-)" rating on shares of Transcat in a research note on Wednesday. Finally, Lake Street Capital initiated coverage on shares of Transcat in a research note on Thursday, July 10th. They issued a "buy" rating and a $105.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Transcat has an average rating of "Moderate Buy" and an average price target of $112.20.

Transcat Price Performance

TRNS stock opened at $71.88 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.92 and a quick ratio of 2.36. Transcat has a one year low of $67.56 and a one year high of $133.40. The stock has a market cap of $669.92 million, a PE ratio of 50.27 and a beta of 0.70. The firm has a 50 day simple moving average of $78.02 and a two-hundred day simple moving average of $80.47.

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

Institutional Investors Weigh In On Transcat

Several institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in Transcat by 10,137.5% in the 1st quarter. GAMMA Investing LLC now owns 1,638 shares of the scientific and technical instruments company's stock worth $122,000 after acquiring an additional 1,622 shares during the last quarter. Rhumbline Advisers grew its holdings in Transcat by 6.2% in the 1st quarter. Rhumbline Advisers now owns 13,110 shares of the scientific and technical instruments company's stock worth $976,000 after acquiring an additional 762 shares during the last quarter. Conestoga Capital Advisors LLC grew its holdings in Transcat by 5.8% in the 1st quarter. Conestoga Capital Advisors LLC now owns 957,254 shares of the scientific and technical instruments company's stock worth $71,268,000 after acquiring an additional 52,328 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in Transcat by 6.9% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 5,071 shares of the scientific and technical instruments company's stock worth $378,000 after acquiring an additional 328 shares during the last quarter. Finally, Bessemer Group Inc. grew its holdings in Transcat by 64.3% in the 1st quarter. Bessemer Group Inc. now owns 180,069 shares of the scientific and technical instruments company's stock worth $13,404,000 after acquiring an additional 70,461 shares during 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.

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