Transcat (NASDAQ:TRNS) Lowered to Market Perform Rating by Oppenheimer

Transcat (NASDAQ:TRNS) was downgraded by Oppenheimer from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Wednesday,Briefing.com Automated Import reports.

TRNS has been the subject of several other reports. StockNews.com raised shares of Transcat from a “sell” rating to a “hold” rating in a research note on Tuesday. HC Wainwright reaffirmed a “buy” rating and issued a $156.00 target price on shares of Transcat in a research note on Tuesday, October 29th. Craig Hallum lifted their target price on shares of Transcat from $113.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Finally, Northland Securities lowered their price objective on shares of Transcat from $130.00 to $110.00 and set a “market perform” rating for the company in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $130.25.

Transcat Price Performance

Shares of TRNS opened at $86.53 on Wednesday. The stock has a market cap of $796.08 million, a price-to-earnings ratio of 43.70 and a beta of 0.71. Transcat has a 1-year low of $75.18 and a 1-year high of $147.12. The firm has a 50 day simple moving average of $104.98 and a 200-day simple moving average of $115.11.

Transcat (NASDAQ:TRNS) last released its earnings results on Monday, January 27th. The scientific and technical instruments company reported $0.45 EPS for the quarter, topping 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 in the previous year, the company posted $0.56 earnings per share. On average, equities analysts expect that Transcat will post 2.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Transcat

Hedge funds and other institutional investors have recently made changes to their positions in the business. nVerses Capital LLC acquired a new position in Transcat in the 3rd quarter worth $60,000. SG Americas Securities LLC acquired a new position in Transcat in the 4th quarter worth $182,000. US Bancorp DE lifted its holdings in Transcat by 15.6% in the 3rd quarter. US Bancorp DE now owns 1,547 shares of the scientific and technical instruments company’s stock worth $187,000 after buying an additional 209 shares in the last quarter. Captrust Financial Advisors acquired a new position in Transcat in the 3rd quarter worth $201,000. Finally, Walleye Capital LLC acquired a new position in Transcat in the 3rd quarter worth $216,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

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.