Northland Securities Issues Pessimistic Forecast for Transcat (NASDAQ:TRNS) Stock Price

Transcat (NASDAQ:TRNS - Get Free Report) had its price target lowered by analysts at Northland Securities from $130.00 to $110.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a "market perform" rating on the scientific and technical instruments company's stock. Northland Securities' target price would indicate a potential upside of 11.11% from the company's current price.

Several other analysts also recently issued reports on TRNS. Oppenheimer reissued an "outperform" rating and issued a $130.00 price target (down previously from $155.00) on shares of Transcat in a report on Wednesday. StockNews.com cut Transcat from a "hold" rating to a "sell" rating in a report on Tuesday. Craig Hallum dropped their price target on shares of Transcat from $138.00 to $113.00 and set a "buy" rating on the stock in a research report on Wednesday. Finally, HC Wainwright reiterated a "buy" rating and set a $156.00 price objective on shares of Transcat in a research report on Tuesday. 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 stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $127.25.

Transcat Stock Down 0.5 %

Shares of TRNS traded down $0.45 during trading on Wednesday, reaching $99.00. The company's stock had a trading volume of 267,893 shares, compared to its average volume of 52,596. The company has a market cap of $905.85 million, a price-to-earnings ratio of 58.58 and a beta of 0.67. The company has a fifty day moving average of $122.86 and a two-hundred day moving average of $122.18. Transcat has a twelve month low of $84.45 and a twelve month high of $147.12.

Transcat (NASDAQ:TRNS - Get Free Report) last released its earnings results on Monday, October 28th. The scientific and technical instruments company reported $0.35 EPS for the quarter, missing analysts' consensus estimates of $0.47 by ($0.12). The firm had revenue of $67.83 million for the quarter, compared to the consensus estimate of $70.30 million. Transcat had a return on equity of 8.48% and a net margin of 5.69%. The company's quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.41 EPS. As a group, equities analysts forecast that Transcat will post 2.06 EPS for the current fiscal year.

Institutional Trading of Transcat

Several institutional investors have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale acquired a new position in Transcat in the 2nd quarter worth about $40,000. nVerses Capital LLC bought a new position in Transcat during the third quarter valued at approximately $60,000. First Horizon Advisors Inc. lifted its stake in Transcat by 26.4% in the second quarter. First Horizon Advisors Inc. now owns 599 shares of the scientific and technical instruments company's stock valued at $72,000 after acquiring an additional 125 shares during the last quarter. Fifth Third Bancorp grew its position in Transcat by 95.8% in the second quarter. Fifth Third Bancorp now owns 656 shares of the scientific and technical instruments company's stock worth $79,000 after acquiring an additional 321 shares in the last quarter. Finally, Quest Partners LLC acquired a new position in shares of Transcat during the 2nd quarter worth $109,000. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Transcat Company Profile

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.