Craig Hallum Forecasts Strong Price Appreciation for Transcat (NASDAQ:TRNS) Stock

Transcat (NASDAQ:TRNS) had its price objective hoisted by Craig Hallum from $113.00 to $125.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the scientific and technical instruments company’s stock. Craig Hallum’s price objective would indicate a potential upside of 14.55% from the stock’s current price.

A number of other brokerages also recently issued reports on TRNS. Oppenheimer restated an “outperform” rating and set a $130.00 price objective (down from $155.00) on shares of Transcat in a research report on Wednesday, October 30th. HC Wainwright restated a “buy” rating and set a $156.00 price objective on shares of Transcat in a research report on Tuesday, October 29th. Northland Securities lowered their target price on Transcat from $130.00 to $110.00 and set a “market perform” rating for the company in a report on Wednesday, October 30th. Finally, StockNews.com downgraded Transcat from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $130.25.

Transcat Price Performance

Shares of TRNS opened at $109.12 on Thursday. Transcat has a 1 year low of $94.29 and a 1 year high of $147.12. The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of 55.11 and a beta of 0.70. The business has a 50-day moving average of $111.36 and a 200-day moving average of $119.47.

Transcat (NASDAQ:TRNS) last issued its quarterly earnings data on Monday, October 28th. 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). Transcat had a return on equity of 7.36% and a net margin of 6.63%. The company had revenue of $67.83 million for the quarter, compared to the consensus estimate of $70.30 million. During the same quarter last year, the business earned $0.41 earnings per share. Transcat’s revenue was up 8.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Transcat will post 1.76 EPS for the current year.

Institutional Investors Weigh In On Transcat

A number of hedge funds have recently added to or reduced their stakes in TRNS. Price T Rowe Associates Inc. MD raised its position in shares of Transcat by 13.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,347 shares of the scientific and technical instruments company’s stock worth $262,000 after purchasing an additional 284 shares during the period. First Horizon Advisors Inc. grew its stake in Transcat by 26.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 599 shares of the scientific and technical instruments company’s stock valued at $72,000 after purchasing an additional 125 shares during the period. Fifth Third Bancorp grew its stake in Transcat by 95.8% in the 2nd quarter. Fifth Third Bancorp now owns 656 shares of the scientific and technical instruments company’s stock valued at $79,000 after purchasing an additional 321 shares during the period. Calamos Advisors LLC raised its stake in Transcat by 76.0% in the 2nd quarter. Calamos Advisors LLC now owns 15,441 shares of the scientific and technical instruments company’s stock valued at $1,848,000 after acquiring an additional 6,667 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Transcat by 23.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 33,181 shares of the scientific and technical instruments company’s stock valued at $3,971,000 after acquiring an additional 6,315 shares during the period. 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.