Zacks Research Downgrades Transcat (NASDAQ:TRNS) to Strong Sell

Transcat (NASDAQ:TRNS) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday,Zacks.com reports.

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Transcat in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Transcat presently has a consensus rating of “Hold” and an average target price of $105.33.

Transcat Stock Up 4.8%

Shares of TRNS stock traded up $3.59 during trading hours on Monday, reaching $79.11. 20,194 shares of the company’s stock were exchanged, compared to its average volume of 144,158. The stock’s 50 day moving average is $73.66 and its 200-day moving average is $66.79. The company has a market cap of $738.26 million, a price-to-earnings ratio of 93.07 and a beta of 0.71. The company has a current ratio of 2.21, a quick ratio of 1.85 and a debt-to-equity ratio of 0.34. Transcat has a fifty-two week low of $50.23 and a fifty-two week high of $97.08.

Transcat (NASDAQ:TRNS) last issued its quarterly earnings results on Tuesday, February 3rd. The scientific and technical instruments company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.04). The business had revenue of $83.86 million for the quarter, compared to analyst estimates of $80.99 million. Transcat had a return on equity of 6.15% and a net margin of 2.47%. Analysts predict that Transcat will post 2.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Transcat

Large investors have recently made changes to their positions in the stock. State of Alaska Department of Revenue purchased a new stake in shares of Transcat during the third quarter valued at $40,000. Lazard Asset Management LLC purchased a new stake in shares of Transcat in the 2nd quarter valued at approximately $54,000. Tower Research Capital LLC TRC grew its stake in shares of Transcat by 245.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,123 shares of the scientific and technical instruments company’s stock valued at $97,000 after buying an additional 798 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Transcat by 42.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,530 shares of the scientific and technical instruments company’s stock valued at $112,000 after buying an additional 458 shares during the period. Finally, Jones Financial Companies Lllp grew its stake in shares of Transcat by 79.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,634 shares of the scientific and technical instruments company’s stock valued at $120,000 after buying an additional 722 shares during the period. 98.34% of the stock is owned by hedge funds and other institutional investors.

About Transcat

Transcat, Inc (NASDAQ: TRNS) is a leading provider of calibration, laboratory, and metrology services in North America. Founded in 1964 and headquartered in Ronkonkoma, New York, the company specializes in ensuring the accuracy and compliance of measurement instruments across a wide range of industries. Transcat operates a network of ISO/IEC 17025–accredited laboratories and offers on-site field calibration, instrument repair, and preventive maintenance services.

In addition to its calibration services, Transcat distributes precision instrumentation and related software solutions from top manufacturers.