Transcat (NASDAQ:TRNS) Sets New 52-Week Low – What’s Next?

Shares of Transcat, Inc. (NASDAQ:TRNS) reached a new 52-week low on Monday . The stock traded as low as $55.19 and last traded at $58.2150, with a volume of 166077 shares traded. The stock had previously closed at $58.02.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on TRNS shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Transcat in a report on Wednesday. HC Wainwright restated a “buy” rating and issued a $116.00 target price on shares of Transcat in a research report on Friday, August 22nd. Zacks Research raised Transcat from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 7th. Northland Securities set a $95.00 price objective on Transcat in a research note on Thursday, October 23rd. Finally, Northland Capmk upgraded shares of Transcat from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 23rd. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.25.

Transcat Stock Performance

The firm has a market capitalization of $527.02 million, a P/E ratio of 39.43 and a beta of 0.71. The company has a 50-day simple moving average of $72.92 and a two-hundred day simple moving average of $79.37. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.36 and a current ratio of 2.92.

Transcat (NASDAQ:TRNS) last announced its quarterly earnings data on Monday, November 3rd. The scientific and technical instruments company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.02). The firm had revenue of $82.27 million for the quarter, compared to analysts’ expectations of $79.51 million. Transcat had a net margin of 4.64% and a return on equity of 6.66%. As a group, equities analysts forecast that Transcat, Inc. will post 2.3 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Conestoga Capital Advisors LLC boosted its position in Transcat by 13.7% in 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 last quarter. Howe & Rusling Inc. increased its stake in shares of Transcat by 115.8% in the 1st quarter. Howe & Rusling Inc. now owns 8,310 shares of the scientific and technical instruments company’s stock worth $619,000 after purchasing an additional 4,459 shares in the last quarter. Premier Fund Managers Ltd raised its holdings in Transcat by 52.2% in the 1st quarter. Premier Fund Managers Ltd now owns 6,908 shares of the scientific and technical instruments company’s stock worth $507,000 after purchasing an additional 2,368 shares during the period. Bessemer Group Inc. lifted its position in Transcat by 35.8% during the second 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. Finally, Truist Financial Corp bought a new position in shares of Transcat during the 2nd quarter valued at approximately $318,000. Hedge funds and other 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.