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 research report issued to clients and investors on Wednesday,Zacks.com reports.

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

Transcat Price Performance

TRNS stock opened at $74.86 on Wednesday. The firm has a 50 day moving average of $68.31 and a 200-day moving average of $68.13. The firm has a market capitalization of $698.44 million, a P/E ratio of 88.07 and a beta of 0.71. Transcat has a 12 month low of $50.23 and a 12 month high of $97.08. The company has a current ratio of 2.21, a quick ratio of 1.85 and a debt-to-equity ratio of 0.34.

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

Hedge Funds Weigh In On Transcat

A number of hedge funds and other institutional investors have recently modified their holdings of TRNS. Vanguard Group Inc. raised 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 valued at $38,852,000 after buying an additional 2,041 shares in the last quarter. Royce & Associates LP grew its position in Transcat by 15.3% during the fourth quarter. Royce & Associates LP now owns 390,546 shares of the scientific and technical instruments company’s stock valued at $22,156,000 after acquiring an additional 51,774 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Transcat by 5.4% during 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 acquiring an additional 12,935 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Transcat by 677.7% during the fourth quarter. Wellington Management Group LLP now owns 248,539 shares of the scientific and technical instruments company’s stock worth $14,100,000 after acquiring an additional 216,579 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Transcat by 1.8% in the 2nd quarter. Geode Capital Management LLC now owns 223,202 shares of the scientific and technical instruments company’s stock worth $19,189,000 after acquiring an additional 4,030 shares during the last quarter. 98.34% of the stock is currently owned by hedge funds and other 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.