Transcat (NASDAQ:TRNS) Releases Earnings Results, Misses Estimates By $0.02 EPS

Transcat (NASDAQ:TRNS) released its earnings results on Monday. The scientific and technical instruments company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.02), Zacks reports. The business had revenue of $82.27 million for the quarter, compared to the consensus estimate of $79.51 million. Transcat had a net margin of 4.64% and a return on equity of 6.66%.

Transcat Stock Down 2.8%

Shares of Transcat stock opened at $70.62 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.92 and a quick ratio of 2.36. Transcat has a 1 year low of $67.56 and a 1 year high of $112.94. The firm’s 50-day moving average is $74.86 and its two-hundred day moving average is $80.07. The stock has a market cap of $658.11 million, a price-to-earnings ratio of 49.38 and a beta of 0.70.

Analysts Set New Price Targets

A number of research firms have recently commented on TRNS. Zacks Research raised Transcat from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 7th. Lake Street Capital assumed coverage on Transcat in a research report on Thursday, July 10th. They issued a “buy” rating and a $105.00 price objective on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Transcat in a report on Wednesday, October 8th. Northland Securities set a $95.00 price target on shares of Transcat in a report on Thursday, October 23rd. Finally, Northland Capmk upgraded shares of Transcat from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 23rd. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Transcat presently has an average rating of “Moderate Buy” and an average target price of $110.25.

Hedge Funds Weigh In On Transcat

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE boosted its stake in shares of Transcat by 40.8% during the second quarter. Bank of America Corp DE now owns 60,939 shares of the scientific and technical instruments company’s stock valued at $5,238,000 after purchasing an additional 17,673 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Transcat by 30.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 116,032 shares of the scientific and technical instruments company’s stock valued at $9,974,000 after acquiring an additional 27,372 shares in the last quarter. Sei Investments Co. boosted its position in Transcat by 627.4% during the 2nd quarter. Sei Investments Co. now owns 47,203 shares of the scientific and technical instruments company’s stock valued at $4,058,000 after acquiring an additional 40,714 shares in the last quarter. Invesco Ltd. boosted its position in Transcat by 12.6% during the second quarter. Invesco Ltd. now owns 10,681 shares of the scientific and technical instruments company’s stock valued at $918,000 after purchasing an additional 1,198 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in Transcat by 23.3% during the second quarter. Rhumbline Advisers now owns 16,171 shares of the scientific and technical instruments company’s stock valued at $1,390,000 after purchasing an additional 3,061 shares in the last quarter. 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.