Transcat (NASDAQ:TRNS) Receives “Market Perform” Rating from Northland Securities

Transcat (NASDAQ:TRNS)‘s stock had its “market perform” rating restated by stock analysts at Northland Securities in a note issued to investors on Wednesday,Benzinga reports. They presently have a $85.00 price target on the scientific and technical instruments company’s stock, down from their previous price target of $110.00. Northland Securities’ target price indicates a potential upside of 10.81% from the stock’s previous close.

TRNS has been the subject of several other research reports. HC Wainwright reissued a “buy” rating and set a $156.00 price objective on shares of Transcat in a research report on Tuesday, October 29th. StockNews.com raised shares of Transcat from a “sell” rating to a “hold” rating in a research note on Tuesday. Oppenheimer lowered Transcat from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Finally, Craig Hallum increased their price objective on shares of Transcat from $113.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $111.50.

Transcat Trading Up 4.4 %

NASDAQ:TRNS opened at $76.71 on Wednesday. The stock has a market cap of $705.73 million, a price-to-earnings ratio of 38.74 and a beta of 0.71. The stock has a 50-day moving average price of $103.79 and a two-hundred day moving average price of $114.55. Transcat has a 1 year low of $73.37 and a 1 year high of $147.12.

Transcat (NASDAQ:TRNS) last issued its quarterly earnings data on Monday, January 27th. The scientific and technical instruments company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.07. Transcat had a return on equity of 7.36% and a net margin of 6.63%. During the same period last year, the firm posted $0.56 earnings per share. Sell-side analysts forecast that Transcat will post 2.44 earnings per share for the current year.

Hedge Funds Weigh In On Transcat

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers increased its stake in Transcat by 4.1% in the fourth quarter. Rhumbline Advisers now owns 12,348 shares of the scientific and technical instruments company’s stock valued at $1,306,000 after acquiring an additional 486 shares during the last quarter. Catawba River Capital grew its position in shares of Transcat by 2.2% in the 4th quarter. Catawba River Capital now owns 67,300 shares of the scientific and technical instruments company’s stock valued at $7,116,000 after buying an additional 1,473 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its holdings in Transcat by 23.2% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 6,477 shares of the scientific and technical instruments company’s stock valued at $685,000 after acquiring an additional 1,219 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Transcat during the fourth quarter worth $182,000. Finally, Annex Advisory Services LLC grew its holdings in Transcat by 47.6% during the 4th quarter. Annex Advisory Services LLC now owns 24,461 shares of the scientific and technical instruments company’s stock worth $2,587,000 after acquiring an additional 7,893 shares during the period. 98.34% of the stock is owned by institutional investors and hedge funds.

About Transcat

Transcat, Inc provides calibration and laboratory instrument services in the United States, Canada, and internationally. It operates through two segments: Service and Distribution. The Service segment offers calibration, repair, inspection, analytical qualification, preventative maintenance, consulting, and other related services.