Transcat (NASDAQ:TRNS) Upgraded at Zacks Research

Zacks Research upgraded shares of Transcat (NASDAQ:TRNS) from a strong sell rating to a hold rating in a research report report published on Wednesday morning,Zacks.com reports.

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Transcat in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $105.33.

Transcat Stock Down 5.6%

Shares of NASDAQ TRNS opened at $70.67 on Wednesday. The firm’s fifty day moving average is $68.54 and its 200 day moving average is $68.05. Transcat has a 52 week low of $50.23 and a 52 week high of $97.08. The company has a quick ratio of 1.85, a current ratio of 2.21 and a debt-to-equity ratio of 0.34. The company has a market cap of $659.35 million, a price-to-earnings ratio of 83.14 and a beta of 0.71.

Transcat (NASDAQ:TRNS) last announced its quarterly earnings results on Tuesday, February 3rd. The scientific and technical instruments company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.04). Transcat had a net margin of 2.47% and a return on equity of 6.15%. The firm had revenue of $83.86 million for the quarter, compared to analysts’ expectations of $80.99 million. On average, equities research analysts expect that Transcat will post 2.3 earnings per share for the current year.

Institutional Trading of Transcat

Large investors have recently bought and sold shares of the company. 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 approximately $7,259,000. King Luther Capital Management Corp lifted its stake in shares of Transcat by 182.3% in the 4th quarter. King Luther Capital Management Corp now owns 103,750 shares of the scientific and technical instruments company’s stock valued at $5,886,000 after purchasing an additional 67,000 shares during the period. Royce & Associates LP lifted its stake in shares of Transcat by 15.3% in the 4th quarter. Royce & Associates LP now owns 390,546 shares of the scientific and technical instruments company’s stock valued at $22,156,000 after purchasing an additional 51,774 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of 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. 98.34% of the stock is owned by institutional investors.

About Transcat

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.