Transcat (NASDAQ:TRNS) Stock Price Down 3.7% – Here’s What Happened

Transcat, Inc. (NASDAQ:TRNS) was down 3.7% during trading on Wednesday . The company traded as low as $101.89 and last traded at $101.89. Approximately 12,170 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 42,509 shares. The stock had previously closed at $105.78.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on TRNS shares. HC Wainwright reissued a “buy” rating and issued a $156.00 target price on shares of Transcat in a research note on Tuesday, October 29th. Craig Hallum upped their target price on shares of Transcat from $113.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Oppenheimer reissued an “outperform” rating and set a $130.00 price target (down from $155.00) on shares of Transcat in a report on Wednesday, October 30th. StockNews.com lowered Transcat from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Finally, Northland Securities reduced their target price on shares of Transcat from $130.00 to $110.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Transcat presently has an average rating of “Hold” and a consensus price target of $130.25.

Transcat Stock Performance

The company has a market cap of $949.80 million, a P/E ratio of 52.15 and a beta of 0.71. The firm’s 50-day simple moving average is $106.26 and its 200 day simple moving average is $116.68.

Transcat (NASDAQ:TRNS) last released its earnings results on Monday, October 28th. The scientific and technical instruments company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.12). The company had revenue of $67.83 million during the quarter, compared to analyst estimates of $70.30 million. Transcat had a net margin of 6.63% and a return on equity of 7.36%. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 EPS. As a group, research analysts forecast that Transcat, Inc. will post 1.76 earnings per share for the current year.

Institutional Investors Weigh In On Transcat

Several hedge funds have recently bought and sold shares of TRNS. DekaBank Deutsche Girozentrale acquired a new stake in shares of Transcat in the second quarter valued at approximately $40,000. nVerses Capital LLC acquired a new stake in shares of Transcat in the third quarter valued at about $60,000. Quest Partners LLC acquired a new position in Transcat during the second quarter valued at approximately $109,000. US Bancorp DE grew its stake in Transcat by 15.6% in the third quarter. US Bancorp DE now owns 1,547 shares of the scientific and technical instruments company’s stock valued at $187,000 after purchasing an additional 209 shares in the last quarter. Finally, Captrust Financial Advisors bought a new stake in shares of Transcat during the 3rd quarter worth approximately $201,000. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Transcat Company Profile

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.