Transcat (NASDAQ:TRNS) Downgraded to “Strong Sell” Rating by Zacks Research

Transcat (NASDAQ:TRNS) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday,Zacks.com reports.

Several other analysts also recently issued reports on TRNS. Northland Securities set a $95.00 price objective on shares of Transcat in a research note on Thursday, October 23rd. 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 assigned a Sell rating to the stock. According to MarketBeat.com, Transcat has a consensus rating of “Hold” and a consensus target price of $105.33.

Transcat Stock Performance

NASDAQ:TRNS opened at $70.64 on Tuesday. The firm has a market capitalization of $659.07 million, a PE ratio of 83.11 and a beta of 0.79. The stock’s fifty day moving average is $59.55 and its 200 day moving average is $68.45. Transcat has a fifty-two week low of $50.23 and a fifty-two week high of $97.08. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.06 and a current ratio of 2.43.

Transcat (NASDAQ:TRNS) last posted its quarterly earnings data on Tuesday, February 3rd. The scientific and technical instruments company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates 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 net margin of 2.47% and a return on equity of 6.17%. On average, sell-side analysts anticipate that Transcat will post 2.3 earnings per share for the current year.

Institutional Trading of Transcat

Several institutional investors and hedge funds have recently modified their holdings of TRNS. Conestoga Capital Advisors LLC raised its holdings in shares of Transcat by 13.7% in the second quarter. Conestoga Capital Advisors LLC now owns 1,088,471 shares of the scientific and technical instruments company’s stock valued at $93,565,000 after acquiring an additional 131,217 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of Transcat by 35.8% in 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 in the last quarter. Geode Capital Management LLC lifted its position in shares of Transcat by 1.8% in the 2nd quarter. Geode Capital Management LLC now owns 223,202 shares of the scientific and technical instruments company’s stock worth $19,189,000 after purchasing an additional 4,030 shares during the period. Atria Investments Inc bought a new position in shares of Transcat during the second quarter valued at approximately $259,000. Finally, Envestnet Asset Management Inc. increased its holdings in Transcat by 151.7% during the second quarter. Envestnet Asset Management Inc. now owns 40,818 shares of the scientific and technical instruments company’s stock valued at $3,509,000 after buying an additional 24,602 shares during the period. 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.