Transcat, Inc. (NASDAQ:TRNS) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Transcat, Inc. (NASDAQ:TRNS) have been given an average recommendation of “Hold” by the five analysts that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $105.3333.

A number of equities research analysts recently commented on TRNS shares. Zacks Research cut shares of Transcat from a “hold” rating to a “strong sell” rating in a report on Monday, April 6th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Transcat in a report on Monday, May 4th.

Transcat Price Performance

Transcat stock opened at $76.25 on Wednesday. Transcat has a 52 week low of $50.23 and a 52 week high of $97.08. The company’s 50 day moving average price is $76.08 and its two-hundred day moving average price is $67.79. The company has a quick ratio of 1.85, a current ratio of 2.21 and a debt-to-equity ratio of 0.34. The stock has a market cap of $711.57 million, a P/E ratio of 89.71 and a beta of 0.68.

Institutional Investors Weigh In On Transcat

A number of hedge funds have recently modified their holdings of TRNS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Transcat by 6.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,462 shares of the scientific and technical instruments company’s stock worth $407,000 after purchasing an additional 325 shares during the period. Jane Street Group LLC bought a new stake in shares of Transcat in the 1st quarter worth approximately $1,674,000. JPMorgan Chase & Co. raised its holdings in shares of Transcat by 88.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 8,555 shares of the scientific and technical instruments company’s stock worth $735,000 after purchasing an additional 4,012 shares during the period. Legal & General Group Plc raised its holdings in shares of Transcat by 6.1% in the 2nd quarter. Legal & General Group Plc now owns 9,551 shares of the scientific and technical instruments company’s stock worth $821,000 after purchasing an additional 548 shares during the period. Finally, Rhumbline Advisers raised its holdings in shares of Transcat by 23.3% in the 2nd quarter. Rhumbline Advisers now owns 16,171 shares of the scientific and technical instruments company’s stock worth $1,390,000 after purchasing an additional 3,061 shares during the period. Institutional investors own 98.34% of the company’s stock.

About Transcat

Transcat, Inc (NASDAQ: TRNS) is a leading provider of calibration, laboratory, and metrology services in North America. Founded in 1964 and headquartered in Ronkonkoma, New York, the company specializes in ensuring the accuracy and compliance of measurement instruments across a wide range of industries. Transcat operates a network of ISO/IEC 17025–accredited laboratories and offers on-site field calibration, instrument repair, and preventive maintenance services.

In addition to its calibration services, Transcat distributes precision instrumentation and related software solutions from top manufacturers.