HC Wainwright Reiterates “Buy” Rating for Transcat (NASDAQ:TRNS)

HC Wainwright reiterated their buy rating on shares of Transcat (NASDAQ:TRNSFree Report) in a research report report published on Tuesday, Benzinga reports. HC Wainwright currently has a $156.00 price target on the scientific and technical instruments company’s stock.

Separately, Craig Hallum lowered their target price on Transcat from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $151.33.

Check Out Our Latest Analysis on Transcat

Transcat Stock Performance

Transcat stock opened at $99.45 on Tuesday. Transcat has a one year low of $84.45 and a one year high of $147.12. The company has a 50-day simple moving average of $123.33 and a 200-day simple moving average of $122.34. The firm has a market capitalization of $909.97 million, a P/E ratio of 58.85 and a beta of 0.67.

Transcat (NASDAQ:TRNSGet Free Report) last posted its earnings results on Monday, October 28th. The scientific and technical instruments company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.12). The firm had revenue of $67.83 million during the quarter, compared to the consensus estimate of $70.30 million. Transcat had a return on equity of 8.48% and a net margin of 5.69%. Transcat’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the company posted $0.41 EPS. As a group, sell-side analysts forecast that Transcat will post 2.06 earnings per share for the current year.

Institutional Trading of Transcat

A number of hedge funds and other institutional investors have recently made changes to their positions in TRNS. Conestoga Capital Advisors LLC boosted its holdings in shares of Transcat by 17.9% in the third quarter. Conestoga Capital Advisors LLC now owns 907,191 shares of the scientific and technical instruments company’s stock valued at $109,561,000 after acquiring an additional 137,830 shares in the last quarter. Hood River Capital Management LLC increased its position in shares of Transcat by 21.6% during the 2nd quarter. Hood River Capital Management LLC now owns 196,838 shares of the scientific and technical instruments company’s stock valued at $23,558,000 after purchasing an additional 34,947 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Transcat by 28.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 79,303 shares of the scientific and technical instruments company’s stock valued at $9,577,000 after buying an additional 17,743 shares during the period. Raymond James & Associates boosted its stake in Transcat by 157.2% during the third quarter. Raymond James & Associates now owns 20,651 shares of the scientific and technical instruments company’s stock valued at $2,494,000 after buying an additional 12,622 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in Transcat by 208.3% during the first quarter. Janus Henderson Group PLC now owns 10,297 shares of the scientific and technical instruments company’s stock worth $1,147,000 after acquiring an additional 6,957 shares during the period. 98.34% of the stock is currently owned by institutional investors.

About Transcat

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Transcat (NASDAQ:TRNS)

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