Transcat (NASDAQ:TRNS) Announces Earnings Results, Misses Expectations By $0.10 EPS

Transcat (NASDAQ:TRNS) issued its quarterly earnings data on Tuesday. The scientific and technical instruments company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.10), FiscalAI reports. The business had revenue of $83.86 million for the quarter, compared to analysts’ expectations of $80.99 million. Transcat had a return on equity of 6.81% and a net margin of 3.75%.

Transcat Price Performance

Shares of NASDAQ TRNS traded up $0.38 during midday trading on Tuesday, hitting $63.44. The company had a trading volume of 300,431 shares, compared to its average volume of 106,416. The company has a quick ratio of 2.06, a current ratio of 2.43 and a debt-to-equity ratio of 0.38. The business has a 50-day simple moving average of $59.09 and a two-hundred day simple moving average of $68.56. Transcat has a twelve month low of $50.23 and a twelve month high of $97.08. The firm has a market capitalization of $591.90 million, a price-to-earnings ratio of 52.00 and a beta of 0.79.

Institutional Investors Weigh In On Transcat

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Transcat by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 530,771 shares of the scientific and technical instruments company’s stock worth $38,852,000 after buying an additional 2,041 shares during the last quarter. Bamco Inc. NY grew its position in Transcat by 8.9% during the second quarter. Bamco Inc. NY now owns 167,713 shares of the scientific and technical instruments company’s stock valued at $14,417,000 after acquiring an additional 13,689 shares during the period. Ameriprise Financial Inc. increased its stake in Transcat by 30.9% during the second quarter. Ameriprise Financial Inc. now owns 116,032 shares of the scientific and technical instruments company’s stock worth $9,974,000 after acquiring an additional 27,372 shares during the last quarter. Bank of America Corp DE increased its stake in Transcat by 12.3% during the third quarter. Bank of America Corp DE now owns 68,429 shares of the scientific and technical instruments company’s stock worth $5,009,000 after acquiring an additional 7,490 shares during the last quarter. Finally, 4D Advisors LLC raised its holdings in shares of Transcat by 85.7% in the 3rd quarter. 4D Advisors LLC now owns 65,000 shares of the scientific and technical instruments company’s stock worth $4,758,000 after purchasing an additional 30,000 shares during the period. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Northland Securities set a $95.00 target price on shares of Transcat in a research note on Thursday, October 23rd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Transcat in a research report on Monday, December 29th. Finally, Zacks Research upgraded Transcat from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Transcat has an average rating of “Buy” and an average price target of $105.33.

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.