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

Transcat (NASDAQ:TRNS) posted its quarterly earnings data on Monday. 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), Zacks reports. The business had revenue of $67.83 million for the quarter, compared to the consensus estimate of $70.30 million. Transcat had a net margin of 5.69% and a return on equity of 8.48%. Transcat’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.41 EPS.

Transcat Price Performance

NASDAQ TRNS traded down $0.45 during trading hours on Wednesday, reaching $99.00. 267,893 shares of the stock traded hands, compared to its average volume of 52,596. The company has a market cap of $905.85 million, a price-to-earnings ratio of 58.58 and a beta of 0.67. The stock has a 50 day simple moving average of $122.86 and a two-hundred day simple moving average of $122.18. Transcat has a 1 year low of $84.45 and a 1 year high of $147.12.

Analyst Ratings Changes

Several equities research analysts recently issued reports on TRNS shares. Oppenheimer reissued an “outperform” rating and set a $130.00 price objective (down previously from $155.00) on shares of Transcat in a research note on Wednesday. HC Wainwright reissued a “buy” rating and set a $156.00 price objective on shares of Transcat in a research note on Tuesday. Northland Securities dropped their price objective on Transcat from $130.00 to $110.00 and set a “market perform” rating for the company in a research note on Wednesday. StockNews.com lowered Transcat from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Craig Hallum lowered their price target on Transcat from $138.00 to $113.00 and set a “buy” rating on the stock in a research report on Wednesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Transcat has an average rating of “Hold” and a consensus price target of $127.25.

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.