Analysts at Singular Research began coverage on shares of Transcat, Inc. (NASDAQ:TRNS) in a note issued to investors on Wednesday. The brokerage set a “buy” rating and a $15.30 price target on the scientific and technical instruments company’s stock. Singular Research’s price objective suggests a potential upside of 21.43% from the stock’s current price.
Separately, Dougherty & Co began coverage on shares of Transcat in a report on Wednesday, August 23rd. They set a “buy” rating and a $20.00 price target for the company.
Transcat (NASDAQ TRNS) remained flat at $$12.60 during trading hours on Wednesday. 17,800 shares of the company’s stock were exchanged, compared to its average volume of 13,263. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.53 and a current ratio of 2.24. Transcat has a 1 year low of $10.15 and a 1 year high of $15.15. The firm has a market capitalization of $89.99, a price-to-earnings ratio of 20.66, a price-to-earnings-growth ratio of 3.03 and a beta of 0.38.
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A number of institutional investors and hedge funds have recently made changes to their positions in TRNS. QCI Asset Management Inc. NY increased its holdings in Transcat by 10.0% during the second quarter. QCI Asset Management Inc. NY now owns 24,587 shares of the scientific and technical instruments company’s stock worth $299,000 after buying an additional 2,226 shares during the last quarter. Punch & Associates Investment Management Inc. grew its stake in shares of Transcat by 16.8% in the second quarter. Punch & Associates Investment Management Inc. now owns 314,658 shares of the scientific and technical instruments company’s stock valued at $3,823,000 after acquiring an additional 45,308 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Transcat by 3.1% in the third quarter. Dimensional Fund Advisors LP now owns 290,146 shares of the scientific and technical instruments company’s stock valued at $3,960,000 after acquiring an additional 8,771 shares in the last quarter. Ameriprise Financial Inc. acquired a new position in shares of Transcat in the third quarter valued at about $2,484,000. Finally, Quantum Capital Management acquired a new position in shares of Transcat in the third quarter valued at about $696,000. 59.46% of the stock is currently owned by hedge funds and other institutional investors.
Transcat, Inc is a provider of calibration and laboratory instrument services and a distributor of professional grade test, measurement and control instrumentation. The Company conducts its business through two segments: service (Service) and distribution (Distribution). Through the Service segment, the Company offers calibration, repair, inspection, analytical qualifications, preventative maintenance and other related services, a majority of which are processed through its asset management system, CalTrak (CalTrak).
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