Weiss Ratings Reiterates "Hold (C-)" Rating for Transcat (NASDAQ:TRNS)

Key Points

• Weiss Ratings has reiterated a "Hold (C-)" rating for Transcat (NASDAQ:TRNS), reflecting cautious sentiment toward the stock.
• Transcat's average rating is considered a "Moderate Buy" with a consensus price target of $112.20, according to multiple research firms’ assessments.
• In the most recent trading session, Transcat shares rose to $71.88, having a market cap of approximately $669.92 million and a P/E ratio of 50.27.

Transcat (NASDAQ:TRNS - Get Free Report)'s stock had its "hold (c-)" rating restated by research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Several other research firms also recently commented on TRNS. Lake Street Capital initiated coverage on Transcat in a research note on Thursday, July 10th. They issued a "buy" rating and a $105.00 price objective on the stock. HC Wainwright reissued a "buy" rating and set a $116.00 target price on shares of Transcat in a research note on Friday, August 22nd. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $112.20.

Transcat Price Performance

Shares of TRNS traded up $1.24 during midday trading on Wednesday, hitting $71.88. 48,352 shares of the company traded hands, compared to its average volume of 85,824. The stock has a 50-day moving average of $78.02 and a 200-day moving average of $80.47. Transcat has a one year low of $67.56 and a one year high of $133.40. The firm has a market cap of $669.92 million, a P/E ratio of 50.27 and a beta of 0.70. 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 (NASDAQ:TRNS - Get Free Report) last issued its earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.19. Transcat had a return on equity of 6.66% and a net margin of 4.64%.The business had revenue of $76.42 million during the quarter, compared to analyst estimates of $72.28 million. As a group, sell-side analysts predict that Transcat will post 2.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TRNS. Riverbridge Partners LLC grew its holdings in shares of Transcat by 94.3% in the 2nd quarter. Riverbridge Partners LLC now owns 440,747 shares of the scientific and technical instruments company's stock worth $37,887,000 after acquiring an additional 213,927 shares during the period. Conestoga Capital Advisors LLC raised its position in shares of Transcat by 13.7% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,088,471 shares of the scientific and technical instruments company's stock worth $93,565,000 after buying an additional 131,217 shares during the period. T. Rowe Price Investment Management Inc. raised its position in shares of Transcat by 17.1% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 607,360 shares of the scientific and technical instruments company's stock worth $45,218,000 after buying an additional 88,763 shares during the period. Bessemer Group Inc. raised its position in shares of 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 buying an additional 70,461 shares during the period. Finally, Neuberger Berman Group LLC increased its holdings in Transcat by 5.5% in the 1st quarter. Neuberger Berman Group LLC now owns 921,898 shares of the scientific and technical instruments company's stock valued at $68,635,000 after purchasing an additional 47,913 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.

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