Transcat, Inc. (NASDAQ:TRNS) Receives $105.33 Consensus Target Price from Brokerages

Shares of Transcat, Inc. (NASDAQ:TRNS) have earned a consensus recommendation of “Buy” from the five ratings firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $105.3333.

Several analysts recently weighed in on TRNS shares. Zacks Research upgraded shares of Transcat from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 7th. Weiss Ratings restated a “sell (d+)” rating on shares of Transcat in a research note on Monday, December 29th. Finally, Northland Securities set a $95.00 price target on Transcat in a research note on Thursday, October 23rd.

Transcat Stock Down 1.7%

Shares of NASDAQ TRNS opened at $58.81 on Monday. The firm’s fifty day moving average is $58.68 and its 200 day moving average is $69.16. Transcat has a 52 week low of $50.23 and a 52 week high of $97.08. 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 company has a market cap of $548.70 million, a price-to-earnings ratio of 48.20 and a beta of 0.78.

Transcat (NASDAQ:TRNS) last announced its quarterly earnings results on Monday, November 3rd. The scientific and technical instruments company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.02). The firm had revenue of $82.27 million during the quarter, compared to the consensus estimate of $79.51 million. Transcat had a return on equity of 6.81% and a net margin of 3.75%. On average, equities research analysts expect that Transcat will post 2.3 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Conestoga Capital Advisors LLC boosted its stake in Transcat by 13.7% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,088,471 shares of the scientific and technical instruments company’s stock worth $93,565,000 after purchasing an additional 131,217 shares in the last quarter. Bessemer Group Inc. increased its stake in Transcat by 35.8% during 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 raised its holdings 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 buying an additional 4,030 shares during the last quarter. Atria Investments Inc bought a new position in shares of Transcat in the second quarter worth approximately $259,000. Finally, Truist Financial Corp bought a new position in shares of Transcat in the second quarter worth approximately $318,000. 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.