Transcat, Inc. (NASDAQ:TRNS) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Transcat, Inc. (NASDAQ:TRNSGet Rating) have been assigned an average recommendation of “Buy” from the seven ratings firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $78.00.

Several research firms recently commented on TRNS. Zacks Investment Research lowered shares of Transcat from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 5th. initiated coverage on Transcat in a report on Thursday, March 31st. They set a “hold” rating for the company.

Shares of TRNS stock traded down $1.08 during mid-day trading on Friday, hitting $69.28. 61,476 shares of the stock traded hands, compared to its average volume of 27,372. Transcat has a 52-week low of $46.86 and a 52-week high of $101.05. The stock has a market cap of $520.99 million, a P/E ratio of 45.58 and a beta of 0.82. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.34 and a quick ratio of 1.77. The stock’s fifty day moving average is $76.23 and its two-hundred day moving average is $83.18.

In other news, CEO Lee D. Rudow sold 5,210 shares of the stock in a transaction dated Saturday, March 26th. The stock was sold at an average price of $74.21, for a total value of $386,634.10. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Gary J. Haseley bought 1,305 shares of the firm’s stock in a transaction that occurred on Tuesday, February 15th. The shares were purchased at an average cost of $76.62 per share, with a total value of $99,989.10. The disclosure for this purchase can be found here. 6.60% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the stock. US Bancorp DE lifted its holdings in Transcat by 137.9% in the first quarter. US Bancorp DE now owns 345 shares of the scientific and technical instruments company’s stock valued at $28,000 after acquiring an additional 200 shares during the period. Covestor Ltd acquired a new position in shares of Transcat in the 4th quarter valued at $44,000. Denali Advisors LLC purchased a new stake in Transcat during the fourth quarter worth $46,000. Royal Bank of Canada grew its position in Transcat by 30.4% during the third quarter. Royal Bank of Canada now owns 631 shares of the scientific and technical instruments company’s stock valued at $40,000 after buying an additional 147 shares during the period. Finally, Citigroup Inc. increased its holdings in Transcat by 140.1% in the third quarter. Citigroup Inc. now owns 809 shares of the scientific and technical instruments company’s stock valued at $52,000 after buying an additional 472 shares in the last quarter. 75.11% of the stock is owned by hedge funds and other institutional investors.

About Transcat (Get Rating)

Transcat, Inc provides calibration and laboratory instrument services in the United States, Canada, and internationally. It operates in two segments, Service and Distribution. The Service segment offers calibration, repair, inspection, analytical qualification, preventative maintenance, consulting, and other related services.

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Analyst Recommendations for Transcat (NASDAQ:TRNS)

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