Transcat (NASDAQ:TRNS) Given New $106.00 Price Target at HC Wainwright

Transcat (NASDAQ:TRNS) had its price target cut by HC Wainwright from $126.00 to $106.00 in a report released on Wednesday,Benzinga reports. They currently have a buy rating on the scientific and technical instruments company’s stock.

Several other brokerages also recently commented on TRNS. Oppenheimer downgraded Transcat from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Craig Hallum raised their price objective on Transcat from $113.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. StockNews.com raised Transcat from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Northland Securities reissued a “market perform” rating and issued a $85.00 price target (down previously from $110.00) on shares of Transcat in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $111.50.

Transcat Stock Performance

Shares of TRNS stock opened at $73.50 on Wednesday. Transcat has a fifty-two week low of $73.37 and a fifty-two week high of $147.12. The stock has a 50 day simple moving average of $104.40 and a two-hundred day simple moving average of $114.81. The company has a market cap of $676.20 million, a P/E ratio of 37.12 and a beta of 0.71.

Transcat (NASDAQ:TRNS) last released its quarterly earnings data on Monday, January 27th. The scientific and technical instruments company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.07. Transcat had a net margin of 6.63% and a return on equity of 7.36%. During the same period last year, the company posted $0.56 earnings per share. On average, research analysts predict that Transcat will post 2.44 earnings per share for the current year.

Institutional Investors Weigh In On Transcat

Institutional investors and hedge funds have recently bought and sold shares of the stock. Conestoga Capital Advisors LLC grew its position in 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 worth $109,561,000 after purchasing an additional 137,830 shares in the last quarter. Champlain Investment Partners LLC grew its holdings in shares of Transcat by 22.1% in the third quarter. Champlain Investment Partners LLC now owns 409,500 shares of the scientific and technical instruments company’s stock valued at $49,455,000 after acquiring an additional 74,169 shares in the last quarter. Royce & Associates LP grew its holdings in shares of Transcat by 8.2% in the third quarter. Royce & Associates LP now owns 511,701 shares of the scientific and technical instruments company’s stock valued at $61,798,000 after acquiring an additional 38,774 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Transcat by 28.8% during the third 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 acquiring an additional 17,743 shares during the last quarter. Finally, State Street Corp lifted its holdings in Transcat by 8.1% during the third quarter. State Street Corp now owns 207,230 shares of the scientific and technical instruments company’s stock worth $25,027,000 after acquiring an additional 15,514 shares during the period. 98.34% of the stock is owned by hedge funds and other institutional investors.

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.