Transcat (NASDAQ:TRNS) Receives Buy Rating from HC Wainwright

Transcat (NASDAQ:TRNS)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They currently have a $116.00 price objective on the scientific and technical instruments company’s stock. HC Wainwright’s target price indicates a potential upside of 39.51% from the stock’s previous close.

Separately, Wall Street Zen upgraded Transcat from a “sell” rating to a “hold” rating in a research report on Wednesday, May 28th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $114.00.

Transcat Price Performance

TRNS stock opened at $83.15 on Wednesday. The firm has a 50-day moving average of $82.59 and a 200 day moving average of $86.00. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.29 and a quick ratio of 1.87. The company has a market cap of $774.96 million, a P/E ratio of 53.30 and a beta of 0.75. Transcat has a 1 year low of $67.56 and a 1 year high of $147.12.

Transcat (NASDAQ:TRNS) last posted its quarterly earnings results on Monday, May 19th. The scientific and technical instruments company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.02). Transcat had a return on equity of 6.47% and a net margin of 5.21%. The company had revenue of $77.13 million during the quarter, compared to analysts’ expectations of $76.40 million. The business’s quarterly revenue was up 8.8% on a year-over-year basis. On average, sell-side analysts forecast that Transcat will post 2.3 EPS for the current year.

Hedge Funds Weigh In On Transcat

A number of institutional investors have recently modified their holdings of TRNS. Jones Financial Companies Lllp increased its holdings in shares of Transcat by 686.7% in the fourth quarter. Jones Financial Companies Lllp now owns 354 shares of the scientific and technical instruments company’s stock valued at $37,000 after purchasing an additional 309 shares in the last quarter. Quantbot Technologies LP bought a new position in Transcat in the first quarter valued at about $76,000. State of Wyoming acquired a new position in Transcat in the first quarter valued at $95,000. Aquatic Capital Management LLC lifted its holdings in shares of Transcat by 1,052.0% in the 4th quarter. Aquatic Capital Management LLC now owns 1,152 shares of the scientific and technical instruments company’s stock worth $122,000 after purchasing an additional 1,052 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Transcat by 10,137.5% during the first quarter. GAMMA Investing LLC now owns 1,638 shares of the scientific and technical instruments company’s stock worth $122,000 after purchasing an additional 1,622 shares during the last quarter. Institutional investors own 98.34% of the company’s stock.

Transcat Company Profile

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.