Transcat (TRNS) Rating Increased to Buy at Zacks Investment Research

Company insiders own 8.80% of the company’s stock. A number of hedge funds have recently modified their holdings of TRNS. Ameriprise Financial Inc. purchased a new position in Transcat in the 3rd quarter worth $2,484,000. Quantum Capital Management purchased a new position in Transcat in the …

Transcat, Inc. logoZacks Investment Research upgraded shares of Transcat (NASDAQ:TRNS) from a hold rating to a buy rating in a research note published on Wednesday morning. The firm currently has $18.00 target price on the scientific and technical instruments company’s stock.

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. “

Several other brokerages have also commented on TRNS. Singular Research increased their price objective on Transcat from $15.30 to $20.00 and gave the company a buy rating in a report on Monday, February 5th. Roth Capital began coverage on Transcat in a research note on Friday, February 9th. They issued a buy rating and a $20.00 target price for the company.

Shares of Transcat (NASDAQ:TRNS) opened at $15.67 on Wednesday. Transcat has a twelve month low of $11.02 and a twelve month high of $16.49. The company has a current ratio of 1.98, a quick ratio of 1.38 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $112.66, a price-to-earnings ratio of 24.61, a PEG ratio of 2.81 and a beta of 0.40.

Transcat (NASDAQ:TRNS) last issued its quarterly earnings data on Monday, January 29th. The scientific and technical instruments company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.12 by $0.09. Transcat had a return on equity of 10.03% and a net margin of 3.24%. The firm had revenue of $40.48 million during the quarter. sell-side analysts expect that Transcat will post 0.7 earnings per share for the current year.

In related news, Director John T. Smith sold 2,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $15.70, for a total value of $31,400.00. Following the completion of the transaction, the director now owns 33,100 shares in the company, valued at approximately $519,670. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 8.80% of the company’s stock.

A number of hedge funds have recently modified their holdings of TRNS. Ameriprise Financial Inc. purchased a new position in Transcat in the 3rd quarter worth $2,484,000. Quantum Capital Management purchased a new position in Transcat in the 3rd quarter worth $696,000. Renaissance Technologies LLC raised its stake in Transcat by 118.8% in the 4th quarter. Renaissance Technologies LLC now owns 53,394 shares of the scientific and technical instruments company’s stock worth $761,000 after acquiring an additional 28,994 shares during the last quarter. Wedge Capital Management L L P NC purchased a new position in Transcat in the 4th quarter worth $378,000. Finally, QCI Asset Management Inc. NY raised its stake in Transcat by 62.8% in the 4th quarter. QCI Asset Management Inc. NY now owns 52,467 shares of the scientific and technical instruments company’s stock worth $748,000 after acquiring an additional 20,233 shares during the last quarter. Institutional investors own 57.12% of the company’s stock.

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Transcat Company Profile

Transcat, Inc is a provider of calibration and laboratory instrument services and a distributor of professional grade test, measurement and control instrumentation. The Company conducts its business through two segments: service (Service) and distribution (Distribution). Through the Service segment, the Company offers calibration, repair, inspection, analytical qualifications, preventative maintenance and other related services, a majority of which are processed through its asset management system, CalTrak (CalTrak).

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