Transcat (NASDAQ:TRNS) Stock Price Up 5.9% – Time to Buy?

Transcat, Inc. (NASDAQ:TRNS)’s share price traded up 5.9% during trading on Thursday . The stock traded as high as $56.42 and last traded at $56.0850. 21,735 shares were traded during mid-day trading, a decline of 80% from the average session volume of 106,931 shares. The stock had previously closed at $52.95.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on TRNS shares. HC Wainwright restated a “buy” rating and set a $116.00 target price on shares of Transcat in a report on Friday, August 22nd. Northland Capmk upgraded shares of Transcat from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 23rd. Zacks Research upgraded Transcat from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 7th. Northland Securities set a $95.00 target price on Transcat in a research note on Thursday, October 23rd. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Transcat in a research report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued 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 an average rating of “Moderate Buy” and a consensus price target of $110.25.

Transcat Stock Performance

The stock has a market cap of $538.11 million, a price-to-earnings ratio of 47.27 and a beta of 0.79. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.43 and a quick ratio of 2.06. The stock’s 50-day moving average is $63.10 and its 200-day moving average is $74.86.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Riverbridge Partners LLC boosted its position 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 during the last quarter. Conestoga Capital Advisors LLC raised its stake in Transcat by 13.7% during the second 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 period. T. Rowe Price Investment Management Inc. raised its stake in Transcat by 17.1% during the first quarter. T. Rowe Price Investment Management Inc. now owns 607,360 shares of the scientific and technical instruments company’s stock worth $45,218,000 after purchasing an additional 88,763 shares during the period. Bessemer Group Inc. boosted its holdings 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 during the last quarter. Finally, Neuberger Berman Group LLC grew its stake in shares of Transcat by 5.5% during the 1st quarter. Neuberger Berman Group LLC now owns 921,898 shares of the scientific and technical instruments company’s stock valued at $68,635,000 after buying an additional 47,913 shares during the period. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

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.