Transcat (NASDAQ:TRNS) Cut to “Strong Sell” at Zacks Research

Zacks Research cut shares of Transcat (NASDAQ:TRNS) from a hold rating to a strong sell rating in a research report sent to investors on Tuesday,Zacks.com reports.

A number of other equities research analysts have also commented on TRNS. Northland Securities set a $95.00 price target on Transcat in a research report on Thursday, October 23rd. Weiss Ratings reiterated a “sell (d+)” rating on shares of Transcat in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $105.33.

Transcat Trading Down 0.3%

Shares of TRNS stock opened at $70.40 on Tuesday. Transcat has a 12-month low of $50.23 and a 12-month high of $97.08. The company has a market capitalization of $656.83 million, a P/E ratio of 82.82 and a beta of 0.79. The firm has a 50-day moving average price of $59.83 and a 200 day moving average price of $68.46. The company has a quick ratio of 2.06, a current ratio of 2.21 and a debt-to-equity ratio of 0.34.

Transcat (NASDAQ:TRNS) last issued its quarterly earnings data 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). The firm had revenue of $83.86 million for the quarter, compared to the consensus estimate of $80.99 million. Transcat had a return on equity of 6.15% and a net margin of 2.47%. Research analysts forecast that Transcat will post 2.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TRNS. Conestoga Capital Advisors LLC raised its position in shares of Transcat by 13.7% during the second quarter. Conestoga Capital Advisors LLC now owns 1,088,471 shares of the scientific and technical instruments company’s stock worth $93,565,000 after acquiring an additional 131,217 shares during the last quarter. First Eagle Investment Management LLC bought a new stake in Transcat during the 4th quarter worth about $7,259,000. Bessemer Group Inc. lifted its position in Transcat by 35.8% during the 2nd quarter. Bessemer Group Inc. now owns 244,491 shares of the scientific and technical instruments company’s stock valued at $21,016,000 after purchasing an additional 64,422 shares during the period. Sei Investments Co. boosted its stake in shares of Transcat by 627.4% in the 2nd quarter. Sei Investments Co. now owns 47,203 shares of the scientific and technical instruments company’s stock valued at $4,058,000 after purchasing an additional 40,714 shares during the last quarter. Finally, 4D Advisors LLC acquired a new stake in shares of Transcat during the 2nd quarter worth approximately $3,009,000. 98.34% of the stock is currently 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.