Zacks Investment Research cut shares of Transcat (NASDAQ:TRNS) from a buy rating to a hold rating in a report released on Saturday, February 17th.
According to Zacks, “Transcat, Inc. distributes test and measurement instruments and provides accredited calibration services to a variety of industries including life sciences, pharmaceutical, petroleum refining, chemical manufacturing, public utility, pulp and paper, communications, automotive and aerospace. “
A number of other analysts have also recently commented on the stock. Roth Capital assumed coverage on shares of Transcat in a report on Friday, February 9th. They set a buy rating and a $20.00 target price on the stock. Singular Research boosted their target price on shares of Transcat from $15.30 to $20.00 and gave the company a buy rating in a report on Monday, February 5th.
Transcat (NASDAQ:TRNS) last announced its earnings results on Monday, January 29th. The scientific and technical instruments company reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.09. Transcat had a net margin of 3.24% and a return on equity of 10.03%. The firm had revenue of $40.48 million for the quarter. sell-side analysts expect that Transcat will post 0.7 EPS for the current fiscal year.
In other news, Director John T. Smith sold 2,000 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $15.70, for a total transaction of $31,400.00. Following the sale, the director now owns 33,100 shares in the company, valued at approximately $519,670. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 8.80% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Northern Trust Corp boosted its stake in Transcat by 9.5% in the 2nd quarter. Northern Trust Corp now owns 18,062 shares of the scientific and technical instruments company’s stock worth $220,000 after purchasing an additional 1,570 shares in the last quarter. Wedge Capital Management L L P NC bought a new position in Transcat in the 4th quarter worth about $378,000. QCI Asset Management Inc. NY boosted its stake in Transcat by 31.1% in the 3rd quarter. QCI Asset Management Inc. NY now owns 32,234 shares of the scientific and technical instruments company’s stock worth $437,000 after purchasing an additional 7,647 shares in the last quarter. Deutsche Bank AG boosted its stake in Transcat by 86.8% in the 4th quarter. Deutsche Bank AG now owns 33,695 shares of the scientific and technical instruments company’s stock worth $480,000 after purchasing an additional 15,653 shares in the last quarter. Finally, Quantum Capital Management bought a new position in Transcat in the 3rd quarter worth about $696,000. Institutional investors own 55.22% of the company’s stock.
WARNING: “Zacks Investment Research Lowers Transcat (NASDAQ:TRNS) to Hold” was first posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this news story on another website, it was illegally stolen and reposted in violation of US and international copyright laws. The legal version of this news story can be accessed at https://stocknewstimes.com/2018/03/14/transcat-trns-downgraded-to-hold-at-zacks-investment-research.html.
Transcat Company Profile
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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Transcat Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Transcat and related companies with MarketBeat.com's FREE daily email newsletter.