Transcat (NASDAQ:TRNS) Stock Price Passes Below 200-Day Moving Average – What’s Next?

Transcat, Inc. (NASDAQ:TRNS)’s stock price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $83.23 and traded as low as $82.74. Transcat shares last traded at $86.00, with a volume of 123,760 shares changing hands.

Wall Street Analyst Weigh In

TRNS has been the topic of several recent analyst reports. Northland Securities downgraded Transcat from an “outperform” rating to a “market perform” rating and set a $95.00 price target on the stock. in a research report on Wednesday, August 5th. Wall Street Zen raised Transcat from a “sell” rating to a “hold” rating in a research report on Sunday, June 28th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Transcat in a research note on Tuesday, August 25th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $95.00.

Transcat Stock Performance

The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.11 and a current ratio of 2.49. The firm has a 50 day moving average price of $88.11 and a two-hundred day moving average price of $83.23. The company has a market capitalization of $807.54 million, a P/E ratio of 232.43 and a beta of 0.68.

Transcat (NASDAQ:TRNS) last announced its quarterly earnings results on Tuesday, August 4th. The scientific and technical instruments company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.13. The firm had revenue of $92.95 million for the quarter, compared to analysts’ expectations of $86.55 million. Transcat had a return on equity of 5.56% and a net margin of 0.99%. On average, research analysts expect that Transcat, Inc. will post 1.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Christopher P. Gillette sold 504 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $94.23, for a total transaction of $47,491.92. Following the completion of the sale, the director directly owned 200 shares of the company’s stock, valued at $18,846. This trade represents a 71.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Craig Cairns acquired 1,050 shares of Transcat stock in a transaction on Thursday, August 6th. The stock was acquired at an average cost of $93.97 per share, for a total transaction of $98,668.50. Following the purchase, the director owned 1,480 shares of the company’s stock, valued at approximately $139,075.60. This represents a 244.19% increase in their position. The SEC filing for this purchase provides additional information. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Transcat

A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in shares of Transcat during the second quarter valued at approximately $67,445,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Transcat in the 2nd quarter valued at $37,106,000. Royce & Associates LP increased its stake in shares of Transcat by 15.3% in the 4th quarter. Royce & Associates LP now owns 390,546 shares of the scientific and technical instruments company’s stock valued at $22,156,000 after buying an additional 51,774 shares during the period. Wellington Management Group LLP bought a new stake in shares of Transcat during the second quarter worth $29,409,000. Finally, Dimensional Fund Advisors LP boosted its holdings in Transcat by 3.7% in the first quarter. Dimensional Fund Advisors LP now owns 262,033 shares of the scientific and technical instruments company’s stock valued at $19,244,000 after acquiring an additional 9,266 shares during the last quarter. 98.34% of the stock is owned by institutional investors.

Transcat Company Profile

Transcat, Inc provides calibration, repair, inspection, and related services for test, measurement, and control instruments. Its offerings help customers maintain the accuracy, reliability, and compliance of equipment used in manufacturing, laboratories, utilities, aerospace and defense, pharmaceuticals, biotechnology, and other regulated or quality-sensitive industries.

The company operates calibration laboratories and service facilities that support a broad range of equipment, including electrical, temperature, pressure, dimensional, mechanical, and process-control instruments.