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

HC Wainwright reiterated their buy rating on shares of Transcat (NASDAQ:TRNS) 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.

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:TRNS) 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

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.