Transcat (NASDAQ:TRNS) Hits New 52-Week High – Still a Buy?

Shares of Transcat, Inc. (NASDAQ:TRNS) hit a new 52-week high during trading on Tuesday . The stock traded as high as $95.22 and last traded at $91.3590, with a volume of 25376 shares. The stock had previously closed at $92.32.

Analysts Set New Price Targets

TRNS has been the subject of a number of research analyst reports. Zacks Research upgraded Transcat from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Wall Street Zen raised Transcat from a “sell” rating to a “hold” rating in a research note on Sunday, June 28th. Finally, Weiss Ratings upgraded Transcat from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $105.50.

Transcat Price Performance

The company has a current ratio of 2.33, a quick ratio of 1.99 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $814.82 million, a PE ratio of 150.42 and a beta of 0.69. The stock’s 50-day moving average is $85.38 and its two-hundred day moving average is $76.52.

Transcat (NASDAQ:TRNS) last released its earnings results on Tuesday, May 26th. The scientific and technical instruments company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. Transcat had a return on equity of 5.84% and a net margin of 1.62%.The firm had revenue of $89.33 million for the quarter, compared to analysts’ expectations of $89.79 million. On average, equities analysts predict that Transcat, Inc. will post 1.71 EPS for the current year.

Hedge Funds Weigh In On Transcat

Several hedge funds have recently bought and sold shares of the business. Lazard Asset Management LLC bought a new stake in shares of Transcat during the second quarter worth $54,000. Tower Research Capital LLC TRC grew its holdings in shares of Transcat by 245.5% in the second quarter. Tower Research Capital LLC TRC now owns 1,123 shares of the scientific and technical instruments company’s stock worth $97,000 after purchasing an additional 798 shares during the last quarter. Central Pacific Bank Trust Division increased its stake in Transcat by 45.0% in the 2nd quarter. Central Pacific Bank Trust Division now owns 3,817 shares of the scientific and technical instruments company’s stock worth $354,000 after buying an additional 1,184 shares during the period. Marshall Wace LLP bought a new stake in Transcat during the 4th quarter valued at about $236,000. Finally, Balyasny Asset Management L.P. bought a new stake in Transcat during the 4th quarter valued at about $247,000. 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.