Zacks: Brokerages Set $20.00 Target Price for Transcat, Inc. (TRNS)

Transcat, Inc. (NASDAQ:TRNS) has earned an average broker rating score of 1.50 (Buy) from the two analysts that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company.

Brokers have set a 1-year consensus target price of $20.00 for the company and are forecasting that the company will post $0.18 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Transcat an industry rank of 53 out of 265 based on the ratings given to its competitors.

Several research firms have issued reports on TRNS. Singular Research upped their price target on Transcat from $15.30 to $20.00 and gave the company a “buy” rating in a report on Monday. Zacks Investment Research raised Transcat from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Saturday, February 3rd.

Transcat (NASDAQ:TRNS) traded down $0.25 on Thursday, reaching $15.00. The company’s stock had a trading volume of 12,167 shares, compared to its average volume of 17,502. The firm has a market capitalization of $110.15, a P/E ratio of 22.06, a price-to-earnings-growth ratio of 2.92 and a beta of 0.40. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.98 and a quick ratio of 1.53. Transcat has a 12-month low of $11.02 and a 12-month high of $16.49.

In other Transcat news, Director John T. Smith sold 2,000 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $15.70, for a total value of $31,400.00. Following the transaction, the director now owns 33,100 shares of the company’s stock, valued at $519,670. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 8.80% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of TRNS. Northern Trust Corp increased its holdings in shares of Transcat by 9.5% in the second quarter. Northern Trust Corp now owns 18,062 shares of the scientific and technical instruments company’s stock valued at $220,000 after buying an additional 1,570 shares in the last quarter. Wedge Capital Management L L P NC bought a new position in shares of Transcat in the fourth quarter valued at $378,000. QCI Asset Management Inc. NY increased its holdings in shares of Transcat by 31.1% in the third quarter. QCI Asset Management Inc. NY now owns 32,234 shares of the scientific and technical instruments company’s stock valued at $437,000 after buying an additional 7,647 shares in the last quarter. Quantum Capital Management bought a new position in shares of Transcat in the third quarter valued at $696,000. Finally, Vanguard Group Inc. increased its holdings in shares of Transcat by 3.4% in the second quarter. Vanguard Group Inc. now owns 133,579 shares of the scientific and technical instruments company’s stock valued at $1,623,000 after buying an additional 4,450 shares in the last quarter. 56.53% of the stock is currently owned by institutional investors.

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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).

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