Transcat (NASDAQ:TRNS) Earns “Outperform” Rating from Oppenheimer

Transcat (NASDAQ:TRNS)‘s stock had its “outperform” rating reiterated by research analysts at Oppenheimer in a report issued on Wednesday, Benzinga reports. They presently have a $130.00 target price on the scientific and technical instruments company’s stock, down from their previous target price of $155.00. Oppenheimer’s price target suggests a potential upside of 36.03% from the company’s current price.

Several other equities analysts have also recently issued reports on the company. Craig Hallum dropped their target price on Transcat from $138.00 to $113.00 and set a “buy” rating on the stock in a research report on Wednesday. HC Wainwright reaffirmed a “buy” rating and set a $156.00 price objective on shares of Transcat in a report on Tuesday. Finally, StockNews.com downgraded Transcat from a “hold” rating to a “sell” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $127.25.

Transcat Price Performance

Shares of NASDAQ TRNS opened at $95.57 on Wednesday. The company has a market cap of $874.47 million, a PE ratio of 48.27 and a beta of 0.67. The stock has a fifty day moving average price of $122.34 and a 200 day moving average price of $121.99. Transcat has a 1-year low of $84.45 and a 1-year high of $147.12.

Transcat (NASDAQ:TRNS) last issued its earnings results on Monday, October 28th. The scientific and technical instruments company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.12). Transcat had a net margin of 6.63% and a return on equity of 7.62%. The firm had revenue of $67.83 million during the quarter, compared to analysts’ expectations of $70.30 million. During the same period in the previous year, the firm earned $0.41 EPS. The firm’s revenue was up 8.0% on a year-over-year basis. Analysts anticipate that Transcat will post 2.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Transcat

A number of institutional investors and hedge funds have recently modified their holdings of the company. Quadrature Capital Ltd purchased a new stake in Transcat during the first quarter worth $619,000. Calamos Advisors LLC boosted its position in shares of Transcat by 76.0% in the 2nd quarter. Calamos Advisors LLC now owns 15,441 shares of the scientific and technical instruments company’s stock worth $1,848,000 after buying an additional 6,667 shares in the last quarter. First Horizon Advisors Inc. grew its stake in Transcat by 26.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 599 shares of the scientific and technical instruments company’s stock valued at $72,000 after acquiring an additional 125 shares during the last quarter. Quest Partners LLC purchased a new position in Transcat during the 2nd quarter valued at about $109,000. Finally, Annex Advisory Services LLC raised its position in Transcat by 61.4% during the third quarter. Annex Advisory Services LLC now owns 16,568 shares of the scientific and technical instruments company’s stock worth $2,001,000 after acquiring an additional 6,304 shares during the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.

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.