Transcat (NASDAQ:TRNS) Announces Quarterly Earnings Results, Misses Expectations By $0.12 EPS

Transcat (NASDAQ:TRNS) posted its earnings results on Monday. The scientific and technical instruments company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.12), Zacks reports. The firm had revenue of $67.83 million during the quarter, compared to analyst estimates of $70.30 million. Transcat had a net margin of 5.69% and a return on equity of 8.48%. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.41 earnings per share.

Transcat Stock Down 1.6 %

NASDAQ:TRNS traded down $1.61 during mid-day trading on Thursday, reaching $97.39. 7,844 shares of the stock were exchanged, compared to its average volume of 52,384. Transcat has a 1 year low of $84.45 and a 1 year high of $147.12. The stock has a market capitalization of $891.12 million, a P/E ratio of 58.58 and a beta of 0.67. The company has a 50 day simple moving average of $122.86 and a 200-day simple moving average of $122.18.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Craig Hallum cut their price target on shares of Transcat from $138.00 to $113.00 and set a “buy” rating on the stock in a research note on Wednesday. HC Wainwright reaffirmed a “buy” rating and set a $156.00 price objective on shares of Transcat in a research report on Tuesday. StockNews.com lowered Transcat from a “hold” rating to a “sell” rating in a report on Tuesday. Northland Securities cut their price target on Transcat from $130.00 to $110.00 and set a “market perform” rating on the stock in a report on Wednesday. Finally, Oppenheimer reissued an “outperform” rating and set a $130.00 price objective (down from $155.00) on shares of Transcat in a research report on Wednesday. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $127.25.

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.