Transcat's (TRNS) Market Perform Rating Reiterated at Northland Securities

Key Points

• Northland Securities reiterated its “Market Perform” rating on Transcat and maintained a $95 price target, implying approximately 3.38% upside. The analyst consensus remains “Hold,” with an average target of $105.50.
• Transcat reported quarterly earnings of $0.51 per share, exceeding the $0.38 consensus estimate, while revenue of $92.95 million surpassed expectations of $86.55 million.
• Shares opened at $91.89 and were up 2.6%; institutional investors own a substantial 98.34% of the company. The stock trades near its 52-week high and carries a high price-to-earnings ratio of 158.43.

Transcat (NASDAQ:TRNS - Get Free Report)'s stock had its "market perform" rating reiterated by research analysts at Northland Securities in a research report issued on Wednesday, Marketbeat.com reports. They currently have a $95.00 target price on the scientific and technical instruments company's stock. Northland Securities' price objective would indicate a potential upside of 3.38% from the company's current price.

A number of other research analysts have also recently commented on the stock. Wall Street Zen upgraded shares of Transcat from a "sell" rating to a "hold" rating in a report on Sunday, June 28th. Weiss Ratings upgraded shares of Transcat from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, May 28th. Finally, Zacks Research raised shares of Transcat from a "strong sell" rating to a "hold" rating in a research report on Friday, May 15th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $105.50.

Transcat Trading Up 2.6%

TRNS opened at $91.89 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.99 and a current ratio of 2.33. The stock's 50 day moving average price is $88.84 and its 200-day moving average price is $79.08. Transcat has a one year low of $50.23 and a one year high of $95.22. The stock has a market cap of $860.09 million, a price-to-earnings ratio of 158.43 and a beta of 0.68.

Transcat (NASDAQ:TRNS - Get Free Report) last released its earnings results on Tuesday, August 4th. The scientific and technical instruments company reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.38 by $0.13. Transcat had a return on equity of 5.84% and a net margin of 1.62%.The business had revenue of $92.95 million for the quarter, compared to analyst estimates of $86.55 million. On average, equities analysts forecast that Transcat will post 1.71 EPS for the current year.

Institutional Trading of Transcat

Hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its position in Transcat by 677.7% during the 4th quarter. Wellington Management Group LLP now owns 248,539 shares of the scientific and technical instruments company's stock valued at $14,100,000 after acquiring an additional 216,579 shares in the last quarter. First Eagle Investment Management LLC bought a new position in shares of Transcat in the 4th quarter worth $7,259,000. King Luther Capital Management Corp lifted its stake in shares of Transcat by 182.3% during the 4th quarter. King Luther Capital Management Corp now owns 103,750 shares of the scientific and technical instruments company's stock worth $5,886,000 after purchasing an additional 67,000 shares during the last quarter. Royce & Associates LP lifted its stake in shares of Transcat by 15.3% during the 4th quarter. Royce & Associates LP now owns 390,546 shares of the scientific and technical instruments company's stock worth $22,156,000 after purchasing an additional 51,774 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in Transcat by 109.7% during the fourth quarter. Renaissance Technologies LLC now owns 95,200 shares of the scientific and technical instruments company's stock valued at $5,401,000 after purchasing an additional 49,800 shares in the last quarter. Hedge funds and other institutional investors own 98.34% of the company's stock.

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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