Transcat (NASDAQ:TRNS) Share Price Passes Above 50-Day Moving Average – What’s Next?

Transcat, Inc. (NASDAQ:TRNS) crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $57.38 and traded as high as $64.41. Transcat shares last traded at $63.24, with a volume of 105,729 shares trading hands.

Analyst Ratings Changes

Several research firms recently issued reports on TRNS. Northland Securities set a $95.00 target price on shares of Transcat in a research report on Thursday, October 23rd. Zacks Research upgraded shares of Transcat from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 7th. Northland Capmk upgraded Transcat from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 23rd. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Transcat in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Transcat has a consensus rating of “Moderate Buy” and a consensus price target of $105.33.

Transcat Stock Performance

The company has a current ratio of 2.43, a quick ratio of 2.06 and a debt-to-equity ratio of 0.38. The firm has a market cap of $609.81 million, a PE ratio of 53.57 and a beta of 0.78. The stock’s 50 day moving average price is $57.24 and its 200 day moving average price is $71.32.

Transcat (NASDAQ:TRNS) last announced its quarterly earnings results on Monday, November 3rd. The scientific and technical instruments company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.02). The company had revenue of $82.27 million during the quarter, compared to analyst estimates of $79.51 million. Transcat had a net margin of 3.75% and a return on equity of 6.81%. As a group, equities analysts forecast that Transcat, Inc. will post 2.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Transcat

Several hedge funds and other institutional investors have recently bought and sold shares of TRNS. Riverbridge Partners LLC lifted its stake in shares of Transcat by 94.3% in the second quarter. Riverbridge Partners LLC now owns 440,747 shares of the scientific and technical instruments company’s stock worth $37,887,000 after acquiring an additional 213,927 shares in the last quarter. Conestoga Capital Advisors LLC increased its holdings in Transcat by 13.7% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,088,471 shares of the scientific and technical instruments company’s stock worth $93,565,000 after purchasing an additional 131,217 shares during the last quarter. Bessemer Group Inc. raised its position in shares of Transcat by 35.8% in the 2nd quarter. Bessemer Group Inc. now owns 244,491 shares of the scientific and technical instruments company’s stock valued at $21,016,000 after purchasing an additional 64,422 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Transcat by 627.4% during the 2nd quarter. Sei Investments Co. now owns 47,203 shares of the scientific and technical instruments company’s stock valued at $4,058,000 after buying an additional 40,714 shares during the last quarter. Finally, 4D Advisors LLC purchased a new position in shares of Transcat during the 2nd quarter valued at approximately $3,009,000. 98.34% of the stock is owned by institutional investors and hedge funds.

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.