Transcat (NASDAQ:TRNS) Reaches New 1-Year Low – Here’s What Happened

Transcat, Inc. (NASDAQ:TRNS) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $69.92 and last traded at $69.97, with a volume of 54460 shares traded. The stock had previously closed at $72.05.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. StockNews.com cut Transcat from a “hold” rating to a “sell” rating in a research note on Wednesday, February 5th. Northland Securities reissued a “market perform” rating and set a $85.00 price objective (down from $110.00) on shares of Transcat in a report on Wednesday, January 29th. Craig Hallum upped their target price on Transcat from $113.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. HC Wainwright decreased their price target on shares of Transcat from $126.00 to $106.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Finally, Oppenheimer cut shares of Transcat from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Transcat currently has an average rating of “Hold” and a consensus target price of $111.50.

Transcat Stock Down 2.9 %

The stock has a market cap of $651.35 million, a P/E ratio of 37.82 and a beta of 0.66. The company has a quick ratio of 1.98, a current ratio of 2.42 and a debt-to-equity ratio of 0.14. The company has a 50-day simple moving average of $84.31 and a two-hundred day simple moving average of $103.33.

Transcat (NASDAQ:TRNS) last posted its quarterly earnings results on Monday, January 27th. The scientific and technical instruments company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.07. Transcat had a net margin of 6.22% and a return on equity of 7.23%. During the same quarter last year, the company posted $0.56 earnings per share. On average, equities analysts forecast that Transcat, Inc. will post 2.3 EPS for the current year.

Insider Buying and Selling

In other Transcat news, Director Craig D. Cairns acquired 1,200 shares of the company’s stock in a transaction on Friday, January 31st. The stock was acquired at an average price of $77.02 per share, for a total transaction of $92,424.00. Following the acquisition, the director now owns 1,910 shares in the company, valued at $147,108.20. This represents a 169.01 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Transcat

A number of hedge funds and other institutional investors have recently made changes to their positions in TRNS. Jones Financial Companies Lllp boosted its holdings in Transcat by 686.7% in the fourth quarter. Jones Financial Companies Lllp now owns 354 shares of the scientific and technical instruments company’s stock valued at $37,000 after acquiring an additional 309 shares in the last quarter. Aquatic Capital Management LLC boosted its stake in shares of Transcat by 1,052.0% during the 4th quarter. Aquatic Capital Management LLC now owns 1,152 shares of the scientific and technical instruments company’s stock valued at $122,000 after purchasing an additional 1,052 shares in the last quarter. Morgan Dempsey Capital Management LLC purchased a new position in shares of Transcat during the fourth quarter valued at about $143,000. SG Americas Securities LLC bought a new position in Transcat in the fourth quarter worth about $182,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in Transcat in the fourth quarter worth about $190,000. Institutional investors own 98.34% of the company’s stock.

About Transcat

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.