Zacks Research Upgrades Transcat (NASDAQ:TRNS) to Hold

Transcat (NASDAQ:TRNS) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Transcat in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $105.33.

Transcat Price Performance

NASDAQ:TRNS traded down $3.32 during mid-day trading on Wednesday, reaching $71.54. 3,490 shares of the company were exchanged, compared to its average volume of 142,768. The company has a quick ratio of 1.85, a current ratio of 2.21 and a debt-to-equity ratio of 0.34. The stock has a market cap of $667.47 million, a PE ratio of 84.16 and a beta of 0.71. Transcat has a 12 month low of $50.23 and a 12 month high of $97.08. The company has a fifty day moving average of $68.31 and a 200 day moving average of $68.13.

Transcat (NASDAQ:TRNS) last announced its earnings results on Tuesday, February 3rd. The scientific and technical instruments company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.04). The company had revenue of $83.86 million for the quarter, compared to analyst estimates of $80.99 million. Transcat had a return on equity of 6.15% and a net margin of 2.47%. On average, research analysts anticipate that Transcat will post 2.3 EPS for the current fiscal year.

Institutional Investors Weigh In On Transcat

A number of institutional investors have recently made changes to their positions in TRNS. Invesco Ltd. increased its holdings in Transcat by 22.6% in the fourth quarter. Invesco Ltd. now owns 14,741 shares of the scientific and technical instruments company’s stock valued at $836,000 after purchasing an additional 2,722 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Transcat during the 4th quarter worth about $380,000. Wellington Management Group LLP increased its stake in shares of Transcat by 677.7% in the 4th quarter. Wellington Management Group LLP now owns 248,539 shares of the scientific and technical instruments company’s stock valued at $14,100,000 after acquiring an additional 216,579 shares during the last quarter. Tudor Investment Corp ET AL acquired a new stake in shares of Transcat in the 4th quarter valued at approximately $520,000. Finally, Numerai GP LLC raised its position in shares of Transcat by 18.4% in the 4th quarter. Numerai GP LLC now owns 11,356 shares of the scientific and technical instruments company’s stock valued at $644,000 after acquiring an additional 1,767 shares during the period. 98.34% of the stock is owned by institutional investors and hedge funds.

About Transcat

Transcat, Inc (NASDAQ: TRNS) is a leading provider of calibration, laboratory, and metrology services in North America. Founded in 1964 and headquartered in Ronkonkoma, New York, the company specializes in ensuring the accuracy and compliance of measurement instruments across a wide range of industries. Transcat operates a network of ISO/IEC 17025–accredited laboratories and offers on-site field calibration, instrument repair, and preventive maintenance services.

In addition to its calibration services, Transcat distributes precision instrumentation and related software solutions from top manufacturers.