Transcat (NASDAQ:TRNS) Announces Quarterly Earnings Results

Transcat (NASDAQ:TRNS) posted its quarterly earnings results on Monday. The scientific and technical instruments company reported $0.64 earnings per share (EPS) 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

TRNS stock traded down $0.07 during mid-day trading on Monday, hitting $81.18. The company had a trading volume of 150,869 shares, compared to its average volume of 101,245. Transcat has a 12 month low of $67.56 and a 12 month high of $147.12. The stock’s fifty day moving average price is $77.67 and its two-hundred 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. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.98 and a current ratio of 2.42.

Analyst Ratings Changes

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

Institutional Trading of Transcat

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

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.