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

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

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Transcat in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $105.33.

Transcat Price Performance

TRNS opened at $79.06 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.85 and a current ratio of 2.21. Transcat has a 52-week low of $50.23 and a 52-week high of $97.08. The stock has a market capitalization of $737.63 million, a PE ratio of 93.01 and a beta of 0.71. The stock’s 50 day moving average price is $74.06 and its 200-day moving average price is $66.88.

Transcat (NASDAQ:TRNS) last posted its earnings results on Tuesday, February 3rd. The scientific and technical instruments company reported $0.26 earnings per share (EPS) 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 business had revenue of $83.86 million for the quarter, compared to analysts’ expectations of $80.99 million. On average, equities research analysts predict that Transcat will post 2.3 EPS for the current year.

Hedge Funds Weigh In On Transcat

A number of institutional investors have recently added to or reduced their stakes in the company. Deutsche Bank AG raised its holdings in Transcat by 4.6% in the fourth quarter. Deutsche Bank AG now owns 7,053 shares of the scientific and technical instruments company’s stock worth $400,000 after purchasing an additional 312 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Transcat by 6.3% in the first 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 purchasing an additional 325 shares in the last quarter. Swiss National Bank raised its holdings in Transcat by 2.2% in the fourth quarter. Swiss National Bank now owns 18,315 shares of the scientific and technical instruments company’s stock worth $1,039,000 after purchasing an additional 400 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Transcat by 8.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,265 shares of the scientific and technical instruments company’s stock worth $299,000 after purchasing an additional 432 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC raised its holdings in Transcat by 4.4% in the third quarter. Linden Thomas Advisory Services LLC now owns 10,840 shares of the scientific and technical instruments company’s stock worth $793,000 after purchasing an additional 453 shares in the last quarter. Institutional investors own 98.34% of the company’s stock.

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.