Transcat, Inc. (NASDAQ:TRNS) Receives $112.20 Consensus Price Target from Analysts

Transcat, Inc. (NASDAQ:TRNS) has received an average rating of “Moderate Buy” from the five research firms that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $112.20.

TRNS has been the subject of several research reports. Lake Street Capital assumed coverage on Transcat in a report on Thursday, July 10th. They issued a “buy” rating and a $105.00 target price for the company. HC Wainwright reissued a “buy” rating and issued a $116.00 price objective on shares of Transcat in a report on Friday, August 22nd.

Hedge Funds Weigh In On Transcat

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Riverbridge Partners LLC boosted its position in Transcat by 94.3% during the second quarter. Riverbridge Partners LLC now owns 440,747 shares of the scientific and technical instruments company’s stock worth $37,887,000 after purchasing an additional 213,927 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Transcat by 328.4% in the 4th quarter. Royal Bank of Canada now owns 173,514 shares of the scientific and technical instruments company’s stock worth $18,348,000 after buying an additional 133,013 shares in the last quarter. Conestoga Capital Advisors LLC grew its stake in 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 valued at $93,565,000 after acquiring an additional 131,217 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in Transcat by 17.1% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 607,360 shares of the scientific and technical instruments company’s stock valued at $45,218,000 after acquiring an additional 88,763 shares in the last quarter. Finally, Bessemer Group Inc. raised its position in Transcat by 64.3% during the first 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.

Transcat Stock Up 0.6%

TRNS stock opened at $72.81 on Tuesday. The stock has a market cap of $678.59 million, a P/E ratio of 50.92 and a beta of 0.72. The company has a current ratio of 2.92, a quick ratio of 2.36 and a debt-to-equity ratio of 0.11. Transcat has a twelve month low of $67.56 and a twelve month high of $133.40. The company’s 50 day moving average is $79.74 and its two-hundred day moving average is $80.43.

Transcat (NASDAQ:TRNS) last posted its earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.59 EPS for the quarter, beating 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 firm had revenue of $76.42 million for the quarter, compared to the consensus estimate of $72.28 million. Research analysts expect that Transcat will post 2.3 earnings per share for the current fiscal year.

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.