Northland Securities Reaffirms Market Perform Rating for Transcat (NASDAQ:TRNS)

Transcat (NASDAQ:TRNS)‘s stock had its “market perform” rating reissued by equities research analysts at Northland Securities in a report issued on Wednesday, MarketBeat.com reports. They currently have a $95.00 price target on the scientific and technical instruments company’s stock. Northland Securities’ price objective points to a potential upside of 3.38% from the company’s current price.

A number of other research firms have also recently weighed in on TRNS. Weiss Ratings raised Transcat from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, May 28th. Zacks Research upgraded Transcat from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Finally, Wall Street Zen raised Transcat from a “sell” rating to a “hold” rating in a report on Sunday, June 28th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Transcat presently has a consensus rating of “Hold” and an average target price of $105.50.

Transcat Trading Up 2.6%

NASDAQ:TRNS opened at $91.89 on Wednesday. The stock has a market capitalization of $860.09 million, a price-to-earnings ratio of 158.43 and a beta of 0.68. Transcat has a 52 week low of $50.23 and a 52 week high of $95.22. The company has a quick ratio of 1.99, a current ratio of 2.33 and a debt-to-equity ratio of 0.33. The firm has a 50 day moving average of $88.84 and a 200 day moving average of $79.08.

Transcat (NASDAQ:TRNS) last released its quarterly earnings results on Tuesday, August 4th. The scientific and technical instruments company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.13. The business had revenue of $92.95 million for the quarter, compared to analyst estimates of $86.55 million. Transcat had a net margin of 1.62% and a return on equity of 5.84%. As a group, sell-side analysts anticipate that Transcat will post 1.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Transcat by 6.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,462 shares of the scientific and technical instruments company’s stock valued at $407,000 after purchasing an additional 325 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Transcat during the 1st quarter valued at about $1,674,000. JPMorgan Chase & Co. lifted its holdings in shares of Transcat by 88.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 8,555 shares of the scientific and technical instruments company’s stock valued at $735,000 after buying an additional 4,012 shares during the period. Legal & General Group Plc lifted its holdings in shares of Transcat by 6.1% in the 2nd quarter. Legal & General Group Plc now owns 9,551 shares of the scientific and technical instruments company’s stock valued at $821,000 after buying an additional 548 shares during the period. Finally, Rhumbline Advisers boosted its stake in shares of Transcat by 23.3% in the second quarter. Rhumbline Advisers now owns 16,171 shares of the scientific and technical instruments company’s stock worth $1,390,000 after buying an additional 3,061 shares during the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

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.