Northland Securities Has Lowered Expectations for Transcat (NASDAQ:TRNS) Stock Price

Transcat (NASDAQ:TRNS) had its price target lowered by Northland Securities from $130.00 to $110.00 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has a market perform rating on the scientific and technical instruments company’s stock.

TRNS has been the subject of several other research reports. StockNews.com cut Transcat from a “hold” rating to a “sell” rating in a research note on Tuesday. Oppenheimer reaffirmed an “outperform” rating and set a $130.00 target price (down previously from $155.00) on shares of Transcat in a research note on Wednesday. Craig Hallum decreased their target price on Transcat from $138.00 to $113.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $156.00 target price on shares of Transcat in a research note on Tuesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $127.25.

Transcat Stock Performance

NASDAQ:TRNS opened at $99.00 on Wednesday. Transcat has a 1 year low of $84.45 and a 1 year high of $147.12. The stock has a market cap of $905.85 million, a price-to-earnings ratio of 58.58 and a beta of 0.67. The business has a fifty day moving average of $122.86 and a 200-day moving average of $122.18.

Transcat (NASDAQ:TRNS) last released its quarterly earnings results on Monday, October 28th. The scientific and technical instruments company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.12). Transcat had a return on equity of 8.48% and a net margin of 5.69%. The business had revenue of $67.83 million during the quarter, compared to the consensus estimate of $70.30 million. During the same period in the previous year, the company posted $0.41 EPS. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. On average, equities research analysts predict that Transcat will post 2.06 EPS for the current year.

Hedge Funds Weigh In On Transcat

A number of hedge funds and other institutional investors have recently modified their holdings of TRNS. Conestoga Capital Advisors LLC boosted its position in shares of Transcat by 17.9% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 907,191 shares of the scientific and technical instruments company’s stock valued at $109,561,000 after purchasing an additional 137,830 shares during the period. Hood River Capital Management LLC boosted its position in shares of Transcat by 21.6% in the 2nd quarter. Hood River Capital Management LLC now owns 196,838 shares of the scientific and technical instruments company’s stock valued at $23,558,000 after purchasing an additional 34,947 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Transcat by 28.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 79,303 shares of the scientific and technical instruments company’s stock valued at $9,577,000 after purchasing an additional 17,743 shares during the period. Raymond James & Associates boosted its position in shares of Transcat by 157.2% in the 3rd quarter. Raymond James & Associates now owns 20,651 shares of the scientific and technical instruments company’s stock valued at $2,494,000 after purchasing an additional 12,622 shares during the period. Finally, Janus Henderson Group PLC boosted its position in shares of Transcat by 208.3% in the 1st quarter. Janus Henderson Group PLC now owns 10,297 shares of the scientific and technical instruments company’s stock valued at $1,147,000 after purchasing an additional 6,957 shares during the period. 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.