Zacks Research Upgrades Transcat (NASDAQ:TRNS) to Hold

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

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Transcat in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.33.

Transcat Price Performance

TRNS opened at $74.86 on Wednesday. The stock’s 50 day simple moving average is $68.31 and its 200 day simple moving average is $68.13. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.21 and a quick ratio of 1.85. Transcat has a 1 year low of $50.23 and a 1 year high of $97.08. The firm has a market cap of $698.44 million, a price-to-earnings ratio of 88.07 and a beta of 0.71.

Transcat (NASDAQ:TRNS) last announced its quarterly earnings data on Tuesday, February 3rd. The scientific and technical instruments company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.04). Transcat had a net margin of 2.47% and a return on equity of 6.15%. The company had revenue of $83.86 million during the quarter, compared to the consensus estimate of $80.99 million. As a group, analysts predict that Transcat will post 2.3 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Transcat by 0.4% in 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 purchasing an additional 2,041 shares during the period. Royce & Associates LP raised its stake in Transcat by 15.3% in the fourth quarter. Royce & Associates LP now owns 390,546 shares of the scientific and technical instruments company’s stock worth $22,156,000 after buying an additional 51,774 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Transcat by 5.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 252,767 shares of the scientific and technical instruments company’s stock worth $14,340,000 after buying an additional 12,935 shares during the period. Wellington Management Group LLP boosted its position in Transcat by 677.7% during the 4th quarter. Wellington Management Group LLP now owns 248,539 shares of the scientific and technical instruments company’s stock valued at $14,100,000 after acquiring an additional 216,579 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Transcat by 1.8% in the second 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. 98.34% of the stock is owned by hedge funds and other institutional investors.

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.