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

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

Transcat Stock Down 0.5 %

TRNS opened at $99.00 on Thursday. The stock has a market capitalization of $905.85 million, a price-to-earnings ratio of 58.58 and a beta of 0.67. Transcat has a twelve month low of $84.45 and a twelve month high of $147.12. The company has a 50-day simple moving average of $122.86 and a 200 day simple moving average of $122.18.

Analyst Upgrades and Downgrades

TRNS has been the topic of a number of research reports. Oppenheimer reaffirmed an “outperform” rating and issued a $130.00 price objective (down from $155.00) on shares of Transcat in a report on Wednesday. HC Wainwright restated a “buy” rating and issued a $156.00 price target on shares of Transcat in a research note on Tuesday. StockNews.com cut shares of Transcat from a “hold” rating to a “sell” rating in a research note on Tuesday. Northland Securities decreased their target price on shares of Transcat from $130.00 to $110.00 and set a “market perform” rating on the stock in a research report on Wednesday. Finally, Craig Hallum lowered their target price on shares of Transcat from $138.00 to $113.00 and set a “buy” rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target 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.