Zacks 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.
ILLEGAL ACTIVITY NOTICE: This piece was first posted by registrarjournal.com and is the sole property of of registrarjournal.com. If you are viewing this piece on another domain, it was illegally stolen and reposted in violation of US & international copyright legislation. The original version of this piece can be accessed at https://registrarjournal.com/2018/02/15/transcat-trns-rating-increased-to-buy-at-zacks-investment-research.html.
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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Transcat Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Transcat and related companies with MarketBeat.com’s FREE daily email newsletter.