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

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

Several other brokerages also recently weighed in on TRNS. Northland Securities set a $95.00 price target on Transcat in a report on Thursday, October 23rd. Weiss Ratings reissued a “sell (d+)” rating on shares of Transcat in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Transcat currently has an average rating of “Hold” and a consensus price target of $105.33.

Transcat Stock Performance

Shares of TRNS opened at $70.64 on Tuesday. 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’s 50 day moving average price is $59.55 and its 200-day moving average price is $68.45. Transcat has a 52 week low of $50.23 and a 52 week high of $97.08. The stock has a market cap of $659.07 million, a P/E ratio of 83.11 and a beta of 0.79.

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 company 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%. Equities research analysts anticipate that Transcat will post 2.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TRNS. State of Alaska Department of Revenue purchased a new stake in Transcat in the third quarter worth about $40,000. Lazard Asset Management LLC purchased a new stake in Transcat during the 2nd quarter valued at approximately $54,000. Parkside Financial Bank & Trust purchased a new position in Transcat during the second quarter valued at $79,000. PNC Financial Services Group Inc. grew its position in shares of Transcat by 1,118.2% during the second quarter. PNC Financial Services Group Inc. now owns 1,072 shares of the scientific and technical instruments company’s stock valued at $92,000 after purchasing an additional 984 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in Transcat by 245.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,123 shares of the scientific and technical instruments company’s stock valued at $97,000 after buying an additional 798 shares in the last quarter. 98.34% of the stock is currently owned by institutional investors.

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.