Transcat (NASDAQ:TRNS) Announces Earnings Results

Transcat (NASDAQ:TRNS) released its quarterly earnings data on Tuesday. The scientific and technical instruments company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.13, FiscalAI reports. Transcat had a net margin of 1.62% and a return on equity of 5.84%. The firm had revenue of $92.95 million for the quarter, compared to the consensus estimate of $86.55 million.

Transcat Trading Up 2.6%

TRNS stock traded up $2.31 during trading on Tuesday, reaching $91.89. The company had a trading volume of 119,663 shares, compared to its average volume of 150,163. Transcat has a 52 week low of $50.23 and a 52 week high of $95.22. The company has a market cap of $860.09 million, a P/E ratio of 158.43 and a beta of 0.68. The business has a 50 day moving average of $88.54 and a 200 day moving average of $78.89. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.33 and a quick ratio of 1.99.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on TRNS shares. Wall Street Zen raised shares of Transcat from a “sell” rating to a “hold” rating in a research report on Sunday, June 28th. Weiss Ratings raised Transcat from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, May 28th. Finally, Zacks Research upgraded Transcat from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Transcat currently has an average rating of “Moderate Buy” and an average target price of $105.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Deutsche Bank AG raised its position in shares of Transcat by 4.6% during 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Transcat by 6.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,462 shares of the scientific and technical instruments company’s stock valued at $407,000 after purchasing an additional 325 shares during the period. Swiss National Bank increased its stake in Transcat by 2.2% in the 4th 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 shares of Transcat by 8.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,265 shares of the scientific and technical instruments company’s stock valued at $299,000 after acquiring an additional 432 shares during the period. Finally, Intech Investment Management LLC lifted its position in shares of Transcat by 8.7% in the 4th quarter. Intech Investment Management LLC now owns 6,021 shares of the scientific and technical instruments company’s stock valued at $342,000 after acquiring an additional 483 shares in the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

About Transcat

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.