Transcat (NASDAQ:TRNS) Downgraded to Market Perform Rating by Oppenheimer

Oppenheimer lowered shares of Transcat (NASDAQ:TRNS) from an outperform rating to a market perform rating in a report issued on Wednesday, Marketbeat.com reports.

Several other equities research analysts have also recently commented on the company. HC Wainwright reaffirmed a “buy” rating and issued a $156.00 price target on shares of Transcat in a report on Tuesday, October 29th. StockNews.com raised Transcat from a “sell” rating to a “hold” rating in a research note on Tuesday. Craig Hallum lifted their price target on Transcat from $113.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Finally, Northland Securities cut their price objective on shares of Transcat from $130.00 to $110.00 and set a “market perform” rating for the company in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $111.50.

Transcat Stock Performance

Shares of TRNS stock opened at $73.50 on Wednesday. Transcat has a fifty-two week low of $73.37 and a fifty-two week high of $147.12. The stock’s fifty day moving average is $104.40 and its two-hundred day moving average is $114.81. The firm has a market capitalization of $676.20 million, a P/E ratio of 37.12 and a beta of 0.71.

Transcat (NASDAQ:TRNS) last posted its quarterly earnings results on Monday, January 27th. The scientific and technical instruments company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.07. Transcat had a net margin of 6.63% and a return on equity of 7.36%. During the same quarter last year, the firm earned $0.56 EPS. On average, equities analysts forecast that Transcat will post 2.44 earnings per share for the current year.

Institutional Trading of Transcat

Several institutional investors and hedge funds have recently bought and sold shares of TRNS. nVerses Capital LLC acquired a new stake in shares of Transcat during the third quarter valued at about $60,000. SG Americas Securities LLC acquired a new stake in Transcat in the 4th quarter valued at approximately $182,000. US Bancorp DE raised its position in Transcat by 15.6% in the third quarter. US Bancorp DE now owns 1,547 shares of the scientific and technical instruments company’s stock valued at $187,000 after purchasing an additional 209 shares during the period. Captrust Financial Advisors acquired a new position in Transcat during the third quarter worth $201,000. Finally, Walleye Capital LLC purchased a new position in shares of Transcat during the third quarter worth $216,000. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

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.