HC Wainwright Issues Pessimistic Forecast for Transcat (NASDAQ:TRNS) Stock Price

Transcat (NASDAQ:TRNS) had its price target dropped by stock analysts at HC Wainwright from $126.00 to $106.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the scientific and technical instruments company’s stock. HC Wainwright’s price target would suggest a potential upside of 22.50% from the stock’s current price.

TRNS has been the subject of several other research reports. Northland Securities reissued a “market perform” rating and set a $85.00 price target (down previously from $110.00) on shares of Transcat in a research report on Wednesday. Craig Hallum boosted their target price on shares of Transcat from $113.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Oppenheimer downgraded shares of Transcat from an “outperform” rating to a “market perform” rating in a report on Wednesday. Finally, StockNews.com raised shares of Transcat from a “sell” rating to a “hold” rating in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $111.50.

Transcat Trading Down 12.7 %

TRNS stock opened at $86.53 on Wednesday. The company’s 50-day moving average price is $104.98 and its 200 day moving average price is $115.11. Transcat has a 52 week low of $75.18 and a 52 week high of $147.12. The company has a market cap of $796.08 million, a P/E ratio of 43.70 and a beta of 0.71.

Transcat (NASDAQ:TRNS) last posted its earnings results on Monday, January 27th. The scientific and technical instruments company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.07. Transcat had a return on equity of 7.36% and a net margin of 6.63%. During the same quarter in the prior year, the business earned $0.56 EPS. On average, equities research analysts expect that Transcat will post 2.44 earnings per share for the current year.

Institutional Investors Weigh In On Transcat

Institutional investors have recently bought and sold shares of the stock. nVerses Capital LLC acquired a new position in shares of Transcat in the 3rd quarter valued at $60,000. US Bancorp DE boosted its holdings in Transcat by 15.6% in the third quarter. US Bancorp DE now owns 1,547 shares of the scientific and technical instruments company’s stock valued at $187,000 after acquiring an additional 209 shares during the last quarter. Captrust Financial Advisors acquired a new position in Transcat in the third quarter valued at $201,000. SG Americas Securities LLC purchased a new stake in Transcat during the fourth quarter valued at about $182,000. Finally, Walleye Capital LLC acquired a new stake in Transcat during the third quarter worth about $216,000. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

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.