Transcat, Inc. (NASDAQ:TRNS) Receives $151.33 Average Price Target from Brokerages

Transcat, Inc. (NASDAQ:TRNS) has been assigned an average recommendation of “Moderate Buy” from the five brokerages that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $151.33.

Several equities analysts recently weighed in on the stock. HC Wainwright reiterated a “buy” rating and issued a $156.00 price target on shares of Transcat in a report on Tuesday, July 30th. Craig Hallum cut their price target on shares of Transcat from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st.

Institutional Investors Weigh In On Transcat

Hedge funds have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale purchased a new stake in Transcat in the 2nd quarter worth approximately $40,000. First Horizon Advisors Inc. boosted its position in Transcat by 26.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 599 shares of the scientific and technical instruments company’s stock worth $72,000 after purchasing an additional 125 shares in the last quarter. Fifth Third Bancorp boosted its position in Transcat by 95.8% in the 2nd quarter. Fifth Third Bancorp now owns 656 shares of the scientific and technical instruments company’s stock worth $79,000 after purchasing an additional 321 shares in the last quarter. Quest Partners LLC purchased a new stake in Transcat in the 2nd quarter worth approximately $109,000. Finally, Hamilton Wealth LLC purchased a new stake in Transcat in the 1st quarter worth approximately $212,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Transcat Stock Down 2.9 %

TRNS opened at $121.50 on Wednesday. Transcat has a 52-week low of $84.45 and a 52-week high of $147.12. The company has a market cap of $1.11 billion, a P/E ratio of 76.42 and a beta of 0.67. The firm’s 50-day moving average price is $123.29 and its 200-day moving average price is $120.36.

Transcat (NASDAQ:TRNS) last posted its quarterly earnings data on Monday, July 29th. The scientific and technical instruments company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.20. Transcat had a net margin of 5.69% and a return on equity of 8.48%. The firm had revenue of $66.70 million for the quarter, compared to the consensus estimate of $69.35 million. During the same quarter in the prior year, the company posted $0.38 earnings per share. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, research analysts anticipate that Transcat will post 2.06 EPS for the current fiscal year.

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.