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

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Zacks Research raised shares of Transcat from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Weiss Ratings reissued a “sell (d)” rating on shares of Transcat in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $105.33.

Transcat Stock Down 1.9%

The stock’s 50 day simple moving average is $75.75 and its two-hundred day simple moving average is $67.95. The firm has a market cap of $700.03 million, a P/E ratio of 88.27 and a beta of 0.68. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.21 and a quick ratio of 1.85.

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

Hedge Funds Weigh In On Transcat

A number of institutional investors and hedge funds have recently made changes to their positions in TRNS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Transcat by 6.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,462 shares of the scientific and technical instruments company’s stock valued at $407,000 after purchasing an additional 325 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Transcat during the first quarter valued at approximately $1,674,000. JPMorgan Chase & Co. increased its stake in shares of Transcat by 88.3% during the second quarter. JPMorgan Chase & Co. now owns 8,555 shares of the scientific and technical instruments company’s stock valued at $735,000 after purchasing an additional 4,012 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Transcat by 6.1% during the second quarter. Legal & General Group Plc now owns 9,551 shares of the scientific and technical instruments company’s stock valued at $821,000 after purchasing an additional 548 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Transcat by 23.3% during the second quarter. Rhumbline Advisers now owns 16,171 shares of the scientific and technical instruments company’s stock valued at $1,390,000 after purchasing an additional 3,061 shares in the last quarter. 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.