Transcat (NASDAQ:TRNS) Announces Quarterly Earnings Results

Transcat (NASDAQ:TRNS) issued its quarterly earnings data on Monday. The scientific and technical instruments company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02), Zacks reports. Transcat had a return on equity of 7.23% and a net margin of 6.22%.

Transcat Stock Performance

Shares of NASDAQ:TRNS traded down $0.07 during mid-day trading on Monday, reaching $81.18. 150,869 shares of the company traded hands, compared to its average volume of 101,245. The company’s 50 day moving average price is $77.67 and its 200-day moving average price is $89.91. The firm has a market cap of $755.70 million, a PE ratio of 43.88 and a beta of 0.69. Transcat has a 52 week low of $67.56 and a 52 week high of $147.12. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.42 and a quick ratio of 1.98.

Hedge Funds Weigh In On Transcat

A hedge fund recently raised its stake in Transcat stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Transcat, Inc. (NASDAQ:TRNS) by 6.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 5,462 shares of the scientific and technical instruments company’s stock after buying an additional 325 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.06% of Transcat worth $407,000 at the end of the most recent quarter. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TRNS has been the topic of a number of research reports. Oppenheimer lowered shares of Transcat from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. HC Wainwright decreased their price target on shares of Transcat from $126.00 to $106.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Northland Securities restated a “market perform” rating and issued a $85.00 price objective (down previously from $110.00) on shares of Transcat in a report on Wednesday, January 29th. Finally, StockNews.com cut Transcat from a “hold” rating to a “sell” rating in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $111.50.

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.