Zacks: Transcat, Inc. (NASDAQ:TRNS) Receives Average Rating of “Buy” from Analysts
Transcat, Inc. (NASDAQ:TRNS) has earned a consensus broker rating score of 2.00 (Buy) from the one brokers that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a buy rating. Transcat’s rating score has declined by 33.3% from 90 days ago as a result of various analysts’ upgrades and downgrades.
Brokers have set a one year consensus price target of $31.00 for the company and are anticipating that the company will post $0.25 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Transcat an industry rank of 17 out of 256 based on the ratings given to its competitors.
Separately, Zacks Investment Research upgraded shares of Acceleron Pharma from a “sell” rating to a “hold” rating in a research note on Saturday, May 25th.
Transcat (NASDAQ:TRNS) last released its earnings results on Tuesday, May 21st. The scientific and technical instruments company reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.09. Transcat had a net margin of 4.44% and a return on equity of 12.77%. The business had revenue of $44.49 million during the quarter, compared to analysts’ expectations of $41.90 million. Analysts anticipate that Transcat will post 1.04 EPS for the current fiscal year.
In other Transcat news, Director Richard J. Harrison sold 4,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $24.22, for a total transaction of $96,880.00. Following the completion of the transaction, the director now owns 32,221 shares in the company, valued at $780,392.62. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Charles P. Hadeed sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $26.50, for a total transaction of $265,000.00. Following the transaction, the chairman now owns 50,993 shares of the company’s stock, valued at approximately $1,351,314.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,462 shares of company stock valued at $842,642. 8.80% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Marshall Wace North America L.P. lifted 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 purchasing an additional 945 shares during the period. O Shaughnessy Asset Management LLC lifted 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 purchasing an additional 1,813 shares during the period. First Trust Advisors LP lifted its stake in Transcat by 18.7% during the fourth quarter. First Trust Advisors LP now owns 12,203 shares of the scientific and technical instruments company’s stock worth $232,000 after purchasing an additional 1,923 shares during the period. Howe & Rusling Inc. lifted its stake in Transcat by 40.4% during the first quarter. Howe & Rusling Inc. now owns 6,950 shares of the scientific and technical instruments company’s stock worth $160,000 after purchasing an additional 2,000 shares during the period. Finally, BlackRock Inc. lifted its stake in Transcat by 11.4% during the fourth quarter. BlackRock Inc. now owns 25,976 shares of the scientific and technical instruments company’s stock worth $494,000 after purchasing an additional 2,654 shares during the period. Hedge funds and other institutional investors own 61.21% of the company’s stock.
Transcat Company Profile
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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