Transcat (NASDAQ:TRNS) Trading Down 6.1% – What’s Next?

Transcat, Inc. (NASDAQ:TRNS) dropped 6.1% during mid-day trading on Wednesday . The stock traded as low as $68.87 and last traded at $71.7710. Approximately 22,065 shares were traded during trading, a decline of 84% from the average daily volume of 140,070 shares. The stock had previously closed at $76.45.

Analyst Upgrades and Downgrades

TRNS has been the subject of several analyst reports. Zacks Research upgraded shares of Transcat from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Weiss Ratings restated a “sell (d)” rating on shares of Transcat in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $105.33.

Transcat Trading Down 1.9%

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’s fifty day moving average price is $75.75 and its two-hundred day moving average price is $67.95. The company has a market capitalization of $700.03 million, a PE ratio of 88.27 and a beta of 0.68.

Transcat (NASDAQ:TRNS) last posted its earnings results on Tuesday, May 26th. The scientific and technical instruments company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. The company had revenue of $89.33 million during the quarter, compared to analyst estimates of $89.79 million. Transcat had a net margin of 2.47% and a return on equity of 6.15%. Sell-side analysts anticipate that Transcat, Inc. will post 1.83 earnings per share for the current year.

Institutional Trading of Transcat

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Transcat by 0.4% during the third quarter. Vanguard Group Inc. now owns 530,771 shares of the scientific and technical instruments company’s stock worth $38,852,000 after purchasing an additional 2,041 shares during the period. Royce & Associates LP raised its stake in Transcat by 15.3% in the fourth quarter. Royce & Associates LP now owns 390,546 shares of the scientific and technical instruments company’s stock worth $22,156,000 after buying an additional 51,774 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Transcat by 3.7% in the first quarter. Dimensional Fund Advisors LP now owns 262,033 shares of the scientific and technical instruments company’s stock worth $19,244,000 after buying an additional 9,266 shares in the last quarter. Wellington Management Group LLP raised its stake in Transcat by 677.7% in the fourth quarter. Wellington Management Group LLP now owns 248,539 shares of the scientific and technical instruments company’s stock worth $14,100,000 after buying an additional 216,579 shares in the last quarter. Finally, Bamco Inc. NY raised its stake in Transcat by 6.2% in the fourth quarter. Bamco Inc. NY now owns 203,477 shares of the scientific and technical instruments company’s stock worth $11,543,000 after buying an additional 11,911 shares in the last quarter. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Transcat Company Profile

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.