Transcat (NASDAQ:TRNS) Receives Buy Rating from HC Wainwright

Transcat (NASDAQ:TRNS - Get Free Report)'s stock had its "buy" rating reissued by equities research analysts at HC Wainwright in a report released on Tuesday, Benzinga reports. They presently have a $156.00 price target on the scientific and technical instruments company's stock. HC Wainwright's price target would suggest a potential upside of 56.86% from the stock's current price.

Separately, Craig Hallum lowered their price objective on Transcat from $150.00 to $138.00 and set a "buy" rating on the stock in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $151.33.

Transcat Stock Down 16.8 %

NASDAQ:TRNS traded down $20.06 during mid-day trading on Tuesday, hitting $99.45. 245,433 shares of the company traded hands, compared to its average volume of 51,566. The stock's fifty day moving average price is $123.75 and its 200-day moving average price is $122.42. Transcat has a one year low of $84.45 and a one year high of $147.12. The firm has a market cap of $909.97 million, a price-to-earnings ratio of 60.05 and a beta of 0.67.

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

Hedge Funds Weigh In On Transcat

Several large investors have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale purchased a new stake in shares of Transcat in the second quarter worth about $40,000. nVerses Capital LLC purchased a new stake in shares of Transcat in the third quarter worth about $60,000. First Horizon Advisors Inc. lifted its position in shares of 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 worth $72,000 after buying an additional 125 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of 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 buying an additional 321 shares in the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of Transcat in the second quarter worth about $109,000. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

About Transcat

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.