Transcat (NASDAQ:TRNS) Announces Earnings Results, Misses Estimates By $0.12 EPS

Transcat (NASDAQ:TRNS) announced its quarterly earnings results on Monday. The scientific and technical instruments company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.12), Zacks reports. Transcat had a net margin of 5.69% and a return on equity of 8.48%. The business had revenue of $67.83 million for the quarter, compared to analysts’ expectations of $70.30 million. During the same quarter in the prior year, the firm earned $0.41 EPS. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis.

Transcat Stock Performance

Shares of TRNS traded down $0.45 during mid-day trading on Wednesday, reaching $99.00. The company had a trading volume of 267,893 shares, compared to its average volume of 52,596. The firm has a 50-day moving average price of $122.86 and a 200 day moving average price of $122.18. Transcat has a 52 week low of $84.45 and a 52 week high of $147.12. The company has a market capitalization of $905.85 million, a price-to-earnings ratio of 58.58 and a beta of 0.67.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Oppenheimer restated an “outperform” rating and set a $130.00 price target (down previously from $155.00) on shares of Transcat in a report on Wednesday. Northland Securities reduced their price target on Transcat from $130.00 to $110.00 and set a “market perform” rating on the stock in a report on Wednesday. Craig Hallum cut their price objective on Transcat from $138.00 to $113.00 and set a “buy” rating on the stock in a research report on Wednesday. StockNews.com cut Transcat from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $156.00 price objective on shares of Transcat in a research report on Tuesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $127.25.

Transcat Company Profile

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.