Craig Hallum Cuts Transcat (NASDAQ:TRNS) Price Target to $113.00

Transcat (NASDAQ:TRNS) had its price target lowered by Craig Hallum from $138.00 to $113.00 in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the scientific and technical instruments company’s stock.

A number of other research firms have also weighed in on TRNS. StockNews.com lowered Transcat from a “hold” rating to a “sell” rating in a report on Tuesday. HC Wainwright restated a “buy” rating and set a $156.00 price objective on shares of Transcat in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $127.25.

Transcat Stock Down 0.2 %

Shares of NASDAQ TRNS opened at $95.41 on Wednesday. The company has a market capitalization of $873.00 million, a PE ratio of 48.19 and a beta of 0.67. Transcat has a twelve month low of $84.45 and a twelve month high of $147.12. The firm has a fifty day simple moving average of $121.71 and a 200 day simple moving average of $121.89.

Transcat (NASDAQ:TRNS) last issued its earnings results on Monday, October 28th. The scientific and technical instruments company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.12). Transcat had a net margin of 6.63% and a return on equity of 7.62%. The firm had revenue of $67.83 million during the quarter, compared to the consensus estimate of $70.30 million. During the same period in the previous year, the firm earned $0.41 earnings per share. The business’s quarterly revenue was up 8.0% on a year-over-year basis. As a group, equities analysts expect that Transcat will post 2.06 earnings per share for the current fiscal year.

Institutional Trading of Transcat

Large investors have recently added to or reduced their stakes in the stock. Diversified Trust Co lifted its stake in Transcat by 23.6% in the first quarter. Diversified Trust Co now owns 3,010 shares of the scientific and technical instruments company’s stock valued at $335,000 after purchasing an additional 575 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Transcat by 24.2% in the 1st quarter. BNP Paribas Financial Markets now owns 14,024 shares of the scientific and technical instruments company’s stock valued at $1,563,000 after acquiring an additional 2,737 shares during the period. Essex Investment Management Co. LLC lifted its holdings in Transcat by 1.5% during the first quarter. Essex Investment Management Co. LLC now owns 37,435 shares of the scientific and technical instruments company’s stock valued at $4,171,000 after purchasing an additional 569 shares during the last quarter. Swiss National Bank boosted its position in Transcat by 1.2% during the first quarter. Swiss National Bank now owns 17,415 shares of the scientific and technical instruments company’s stock worth $1,941,000 after purchasing an additional 200 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in shares of Transcat by 8.6% in the first quarter. Russell Investments Group Ltd. now owns 26,713 shares of the scientific and technical instruments company’s stock worth $2,977,000 after purchasing an additional 2,121 shares in 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.