Transcat, Inc. (NASDAQ:TRNS) Receives Average Rating of “Buy” from Brokerages

Transcat, Inc. (NASDAQ:TRNS – Get Rating) has been assigned a consensus recommendation of “Buy” from the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $78.00.

Several equities analysts have recently commented on the company. StockNews.com assumed coverage on Transcat in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research lowered Transcat from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 5th.

In related news, Director Gary J. Haseley acquired 1,305 shares of the company’s stock in a transaction that occurred on Tuesday, February 15th. The shares were bought at an average price of $76.62 per share, with a total value of $99,989.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Lee D. Rudow sold 5,210 shares of the firm’s stock in a transaction dated Saturday, March 26th. The stock was sold at an average price of $74.21, for a total value of $386,634.10. The disclosure for this sale can be found here. 6.60% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Advisor Group Holdings Inc. boosted its holdings in Transcat by 95.5% in the first quarter. Advisor Group Holdings Inc. now owns 5,107 shares of the scientific and technical instruments company’s stock worth $414,000 after acquiring an additional 2,495 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Transcat by 186.8% in the first quarter. Envestnet Asset Management Inc. now owns 24,849 shares of the scientific and technical instruments company’s stock worth $2,016,000 after purchasing an additional 16,185 shares during the last quarter. Comerica Bank raised its stake in shares of Transcat by 188.3% in the first quarter. Comerica Bank now owns 15,974 shares of the scientific and technical instruments company’s stock worth $1,287,000 after purchasing an additional 10,433 shares during the last quarter. Conestoga Capital Advisors LLC raised its stake in shares of Transcat by 154.4% in the first quarter. Conestoga Capital Advisors LLC now owns 230,873 shares of the scientific and technical instruments company’s stock worth $18,733,000 after purchasing an additional 140,128 shares during the last quarter. Finally, Truist Financial Corp raised its stake in shares of Transcat by 260.9% in the first quarter. Truist Financial Corp now owns 15,553 shares of the scientific and technical instruments company’s stock worth $1,262,000 after purchasing an additional 11,244 shares during the last quarter. 75.11% of the stock is owned by institutional investors and hedge funds.

Shares of Transcat stock opened at $72.62 on Friday. The firm has a market cap of $546.03 million, a P/E ratio of 47.78 and a beta of 0.82. The company has a current ratio of 2.34, a quick ratio of 1.77 and a debt-to-equity ratio of 0.47. Transcat has a 12 month low of $46.17 and a 12 month high of $101.05. The stock’s fifty day moving average price is $76.81 and its 200-day moving average price is $83.14.

Transcat (NASDAQ:TRNS – Get Rating) last announced its quarterly earnings results on Tuesday, February 1st. The scientific and technical instruments company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.02). The firm had revenue of $50.90 million for the quarter, compared to analysts’ expectations of $51.17 million. Transcat had a net margin of 5.83% and a return on equity of 14.63%. During the same quarter in the prior year, the business posted $0.23 EPS. Analysts forecast that Transcat will post 1.52 earnings per share for the current year.

About Transcat (Get Rating)

Transcat, Inc provides calibration and laboratory instrument services in the United States, Canada, and internationally. It operates in 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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