Transcat (NASDAQ:TRNS) Cut to Strong Sell at Zacks Research

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

Separately, Weiss Ratings reiterated 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 issued a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Transcat presently has an average rating of “Hold” and a consensus price target of $105.33.

Transcat Price Performance

Shares of NASDAQ:TRNS opened at $75.52 on Monday. 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 has a 1 year low of $50.23 and a 1 year high of $97.08. The business has a fifty day simple moving average of $73.66 and a 200 day simple moving average of $66.79. The firm has a market cap of $704.75 million, a price-to-earnings ratio of 88.85 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 (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 for 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.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Roubaix Capital LLC bought a new position in shares of Transcat during the 3rd quarter worth about $2,309,000. SG Americas Securities LLC increased its holdings in shares of Transcat by 112.6% during the 4th quarter. SG Americas Securities LLC now owns 27,732 shares of the scientific and technical instruments company’s stock worth $1,573,000 after purchasing an additional 14,688 shares during the period. Bamco Inc. NY increased its holdings in shares of Transcat by 14.2% during the 3rd quarter. Bamco Inc. NY now owns 191,566 shares of the scientific and technical instruments company’s stock worth $14,023,000 after purchasing an additional 23,853 shares during the period. JPMorgan Chase & Co. increased its stake in Transcat by 259.1% in the third quarter. JPMorgan Chase & Co. now owns 30,719 shares of the scientific and technical instruments company’s stock valued at $2,249,000 after acquiring an additional 22,164 shares during the period. Finally, ArrowMark Colorado Holdings LLC increased its stake in Transcat by 45.4% in the third quarter. ArrowMark Colorado Holdings LLC now owns 85,371 shares of the scientific and technical instruments company’s stock valued at $6,249,000 after acquiring an additional 26,659 shares during the period. Institutional investors own 98.34% of the company’s stock.

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.