Transcat (NASDAQ:TRNS - Get Free Report) was downgraded by stock analysts at StockNews.com from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Tuesday.
Other research analysts have also recently issued research reports about the company. HC Wainwright reissued a "buy" rating and issued a $156.00 price objective on shares of Transcat in a research note on Tuesday. Craig Hallum dropped their price target on Transcat from $150.00 to $138.00 and set a "buy" rating on the stock in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $151.33.
Get Our Latest Report on Transcat
Transcat Stock Down 16.8 %
NASDAQ TRNS traded down $20.06 during trading hours on Tuesday, hitting $99.45. 245,433 shares of the company were exchanged, compared to its average volume of 51,566. Transcat has a 52 week low of $84.45 and a 52 week high of $147.12. The stock has a 50-day moving average price of $123.33 and a 200 day moving average price of $122.34. The stock has a market cap of $909.97 million, a PE ratio of 58.85 and a beta of 0.67.
Transcat (NASDAQ:TRNS - Get Free Report) last announced its earnings results on Monday, October 28th. The scientific and technical instruments company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.12). The firm had revenue of $67.83 million during the quarter, compared to analysts' expectations of $70.30 million. Transcat had a net margin of 5.69% and a return on equity of 8.48%. The company's revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.41 EPS. As a group, sell-side analysts anticipate that Transcat will post 2.06 earnings per share for the current year.
Hedge Funds Weigh In On Transcat
Several institutional investors and hedge funds have recently modified their holdings of the business. Conestoga Capital Advisors LLC increased its stake in Transcat by 17.9% during the third quarter. Conestoga Capital Advisors LLC now owns 907,191 shares of the scientific and technical instruments company's stock worth $109,561,000 after acquiring an additional 137,830 shares during the last quarter. Hood River Capital Management LLC raised its holdings in Transcat by 21.6% in the 2nd quarter. Hood River Capital Management LLC now owns 196,838 shares of the scientific and technical instruments company's stock valued at $23,558,000 after buying an additional 34,947 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Transcat by 28.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 79,303 shares of the scientific and technical instruments company's stock valued at $9,577,000 after buying an additional 17,743 shares during the last quarter. Silvercrest Asset Management Group LLC boosted its stake in Transcat by 4.6% during the first quarter. Silvercrest Asset Management Group LLC now owns 58,381 shares of the scientific and technical instruments company's stock worth $6,505,000 after buying an additional 2,542 shares during the period. Finally, Essex Investment Management Co. LLC increased its position in shares of Transcat by 0.4% during the third quarter. Essex Investment Management Co. LLC now owns 43,444 shares of the scientific and technical instruments company's stock valued at $5,247,000 after acquiring an additional 171 shares during the last quarter. Hedge funds and other institutional investors own 98.34% of the company's stock.
About Transcat
(
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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.
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