Transcat (NASDAQ:TRNS) Downgraded by StockNews.com to Sell

Transcat (NASDAQ:TRNS) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Wednesday.

Several other equities analysts also recently commented on the stock. Oppenheimer downgraded shares of Transcat from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. Northland Securities restated a “market perform” rating and set a $85.00 target price (down previously from $110.00) on shares of Transcat in a research report on Wednesday, January 29th. Craig Hallum lifted their price target 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. Finally, HC Wainwright reduced their price target on Transcat from $126.00 to $106.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Transcat has a consensus rating of “Hold” and a consensus target price of $111.50.

Transcat Stock Down 1.3 %

Shares of TRNS stock opened at $77.81 on Wednesday. Transcat has a 12-month low of $73.37 and a 12-month high of $147.12. The company has a market capitalization of $715.77 million, a PE ratio of 42.06 and a beta of 0.67. The firm has a 50 day moving average price of $100.86 and a two-hundred day moving average price of $112.49.

Transcat (NASDAQ:TRNS) last released its quarterly earnings results on Monday, January 27th. The scientific and technical instruments company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.07. Transcat had a return on equity of 7.43% and a net margin of 6.22%. During the same quarter in the previous year, the company posted $0.56 earnings per share. As a group, research analysts expect that Transcat will post 2.3 EPS for the current year.

Insider Transactions at Transcat

In other Transcat news, Director Craig D. Cairns bought 1,200 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were purchased at an average price of $77.02 per share, for a total transaction of $92,424.00. Following the completion of the transaction, the director now directly owns 1,910 shares in the company, valued at approximately $147,108.20. The trade was a 169.01 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Transcat

Hedge funds have recently made changes to their positions in the stock. Jones Financial Companies Lllp grew its position in Transcat by 686.7% during the 4th quarter. Jones Financial Companies Lllp now owns 354 shares of the scientific and technical instruments company’s stock worth $37,000 after acquiring an additional 309 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of Transcat during the third quarter valued at about $60,000. Morgan Dempsey Capital Management LLC bought a new stake in shares of Transcat during the fourth quarter worth about $143,000. SG Americas Securities LLC acquired a new position in shares of Transcat in the fourth quarter valued at approximately $182,000. Finally, US Bancorp DE raised its holdings in Transcat by 15.6% in the 3rd quarter. US Bancorp DE now owns 1,547 shares of the scientific and technical instruments company’s stock valued at $187,000 after buying an additional 209 shares during the last quarter. 98.34% of the stock is currently 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.