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

Transcat, Inc. (NASDAQ:TRNS) has been given a consensus rating of “Moderate Buy” by the six research firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $105.3333.

A number of equities analysts recently commented on the stock. Northland Securities set a $95.00 target price on shares of Transcat in a research note on Thursday, October 23rd. Zacks Research raised Transcat from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 7th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Transcat in a research report on Monday, December 29th.

Hedge Funds Weigh In On Transcat

Several hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Transcat by 6.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,462 shares of the scientific and technical instruments company’s stock worth $407,000 after buying an additional 325 shares during the last quarter. Jane Street Group LLC acquired a new stake in Transcat during the 1st quarter worth $1,674,000. Truist Financial Corp purchased a new stake in Transcat in the second quarter valued at $318,000. Hardy Reed LLC purchased a new stake in Transcat in the second quarter valued at $217,000. Finally, Morgan Dempsey Capital Management LLC boosted its stake in Transcat by 41.7% in the second quarter. Morgan Dempsey Capital Management LLC now owns 1,352 shares of the scientific and technical instruments company’s stock valued at $116,000 after acquiring an additional 398 shares in the last quarter. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Transcat Stock Down 1.2%

TRNS stock opened at $63.14 on Monday. The company’s 50 day moving average price is $58.27 and its 200 day moving average price is $69.60. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.06 and a current ratio of 2.43. Transcat has a fifty-two week low of $50.23 and a fifty-two week high of $102.72. The firm has a market capitalization of $589.10 million, a price-to-earnings ratio of 51.75 and a beta of 0.78.

Transcat (NASDAQ:TRNS) last issued its quarterly earnings results on Monday, November 3rd. The scientific and technical instruments company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.02). Transcat had a return on equity of 6.81% and a net margin of 3.75%.The firm had revenue of $82.27 million during the quarter, compared to analysts’ expectations of $79.51 million. On average, equities research analysts anticipate that Transcat will post 2.3 EPS for the current fiscal year.

Transcat Company Profile

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.