Transcat (NASDAQ:TRNS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.
According to Zacks, “Transcat, Inc. distributes test and measurement instruments and provides accredited calibration services to a variety of industries including life sciences, pharmaceutical, petroleum refining, chemical manufacturing, public utility, pulp and paper, communications, automotive and aerospace. “
Separately, ValuEngine upgraded Transcat from a “hold” rating to a “buy” rating in a research report on Wednesday, April 11th. Five research analysts have rated the stock with a buy rating, Transcat currently has an average rating of “Buy” and an average target price of $20.50.
Transcat opened at $20.10 on Thursday, according to MarketBeat. The stock has a market capitalization of $138.19 million, a P/E ratio of 28.31, a P/E/G ratio of 2.58 and a beta of 0.42. Transcat has a 12 month low of $11.80 and a 12 month high of $21.10. The company has a quick ratio of 1.38, a current ratio of 1.92 and a debt-to-equity ratio of 0.40.
Transcat (NASDAQ:TRNS) last released its quarterly earnings results on Wednesday, May 23rd. The scientific and technical instruments company reported $0.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.04. The company had revenue of $42.45 million during the quarter, compared to analyst estimates of $40.70 million. Transcat had a return on equity of 10.83% and a net margin of 3.82%. analysts anticipate that Transcat will post 0.93 earnings per share for the current year.
In other Transcat news, Chairman Charles P. Hadeed sold 17,700 shares of the firm’s stock in a transaction dated Wednesday, May 30th. The shares were sold at an average price of $18.18, for a total value of $321,786.00. Following the completion of the sale, the chairman now owns 77,474 shares of the company’s stock, valued at $1,408,477.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Alan H. Resnick sold 1,916 shares of the firm’s stock in a transaction dated Friday, June 8th. The stock was sold at an average price of $19.79, for a total transaction of $37,917.64. Following the completion of the sale, the director now directly owns 35,400 shares of the company’s stock, valued at approximately $700,566. The disclosure for this sale can be found here. 8.80% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Quantum Capital Management lifted its stake in Transcat by 31.6% in the first quarter. Quantum Capital Management now owns 83,824 shares of the scientific and technical instruments company’s stock worth $1,312,000 after purchasing an additional 20,110 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Transcat by 118.8% in the fourth quarter. Renaissance Technologies LLC now owns 53,394 shares of the scientific and technical instruments company’s stock worth $761,000 after purchasing an additional 28,994 shares during the last quarter. Deutsche Bank AG lifted its stake in Transcat by 86.8% in the fourth quarter. Deutsche Bank AG now owns 33,695 shares of the scientific and technical instruments company’s stock worth $480,000 after purchasing an additional 15,653 shares during the last quarter. UBS Group AG lifted its stake in Transcat by 62.9% in the first quarter. UBS Group AG now owns 66,465 shares of the scientific and technical instruments company’s stock worth $1,040,000 after purchasing an additional 25,664 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Transcat by 2.8% in the first quarter. Dimensional Fund Advisors LP now owns 316,063 shares of the scientific and technical instruments company’s stock worth $4,946,000 after purchasing an additional 8,621 shares during the last quarter. 53.64% of the stock is owned by institutional investors and hedge funds.
Transcat Company Profile
Transcat, Inc provides calibration and laboratory instrument services in the United States, Canada, and internationally. It operates in two segments, Service and Distribution. The Service segment offers calibration, repair, inspection, analytical qualifications, preventative maintenance, consulting, and other related services.
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