Zacks: Transcat, Inc. (NASDAQ:TRNS) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Transcat, Inc. (NASDAQ:TRNS) have received a consensus broker rating score of 2.00 (Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a buy recommendation. Transcat’s rating score has declined by 33.3% from 90 days ago as a result of a number of analysts’ upgrades and downgrades.

Analysts have set a 1-year consensus price target of $31.00 for the company and are forecasting that the company will post $0.25 EPS for the current quarter, according to Zacks. Zacks has also assigned Transcat an industry rank of 34 out of 256 based on the ratings given to its competitors.

Separately, Zacks Investment Research upgraded Transcat from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research report on Saturday, May 25th.

TRNS opened at $25.59 on Thursday. The business’s 50-day moving average price is $24.92. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.03 and a quick ratio of 1.39. Transcat has a one year low of $17.56 and a one year high of $27.00. The firm has a market capitalization of $188.04 million, a PE ratio of 26.94, a P/E/G ratio of 3.10 and a beta of 0.78.

Transcat (NASDAQ:TRNS) last posted its earnings results on Tuesday, May 21st. The scientific and technical instruments company reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.09. Transcat had a return on equity of 12.77% and a net margin of 4.44%. The business had revenue of $44.49 million for the quarter, compared to analysts’ expectations of $41.90 million. As a group, equities research analysts forecast that Transcat will post 1.04 earnings per share for the current fiscal year.

In other news, Director John T. Smith sold 5,000 shares of Transcat stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $24.66, for a total transaction of $123,300.00. Following the sale, the director now owns 30,555 shares in the company, valued at $753,486.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Charles P. Hadeed sold 10,000 shares of Transcat stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $26.50, for a total value of $265,000.00. Following the sale, the chairman now owns 50,993 shares in the company, valued at approximately $1,351,314.50. The disclosure for this sale can be found here. Insiders have sold 33,462 shares of company stock worth $842,642 in the last quarter. Insiders own 8.80% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Marshall Wace North America L.P. raised its stake in Transcat by 157.5% during the first quarter. Marshall Wace North America L.P. now owns 1,545 shares of the scientific and technical instruments company’s stock worth $36,000 after acquiring an additional 945 shares during the period. Punch & Associates Investment Management Inc. raised its stake in Transcat by 0.8% during the first quarter. Punch & Associates Investment Management Inc. now owns 340,398 shares of the scientific and technical instruments company’s stock worth $7,822,000 after acquiring an additional 2,700 shares during the period. O Shaughnessy Asset Management LLC raised its stake in Transcat by 12.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 16,851 shares of the scientific and technical instruments company’s stock worth $387,000 after acquiring an additional 1,813 shares during the period. Wasatch Advisors Inc. raised its stake in Transcat by 16.5% during the first quarter. Wasatch Advisors Inc. now owns 323,971 shares of the scientific and technical instruments company’s stock worth $7,445,000 after acquiring an additional 45,878 shares during the period. Finally, Wedge Capital Management L L P NC raised its stake in Transcat by 19.6% during the first quarter. Wedge Capital Management L L P NC now owns 39,499 shares of the scientific and technical instruments company’s stock worth $908,000 after acquiring an additional 6,478 shares during the period. Institutional investors and hedge funds own 61.21% of the company’s stock.

About Transcat

Transcat, Inc provides calibration and laboratory instrument services in North America and internationally. It operates in two segments, Service and Distribution. The Service segment offers calibration, repair, inspection, analytical qualification, preventative maintenance, consulting, and other related services.

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