Transcat (NASDAQ:TRNS) Hits New 1-Year Low – Here’s What Happened

Transcat, Inc. (NASDAQ:TRNS) reached a new 52-week low on Monday . The stock traded as low as $53.57 and last traded at $54.3890, with a volume of 71056 shares traded. The stock had previously closed at $53.93.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on TRNS shares. Northland Securities set a $95.00 price target on Transcat in a research note on Thursday, October 23rd. Northland Capmk upgraded shares of Transcat from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 23rd. Weiss Ratings lowered shares of Transcat from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, November 11th. HC Wainwright reaffirmed a “buy” rating and set a $116.00 price target on shares of Transcat in a research note on Friday, August 22nd. Finally, Zacks Research upgraded shares of Transcat from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 7th. 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $110.25.

Transcat Price Performance

The company’s fifty day moving average is $70.43 and its two-hundred day moving average is $78.45. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.36 and a current ratio of 2.92. The firm has a market cap of $501.15 million, a price-to-earnings ratio of 37.57 and a beta of 0.71.

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

Institutional Investors Weigh In On Transcat

Several hedge funds have recently modified their holdings of the stock. State of Alaska Department of Revenue purchased a new position in Transcat in the 3rd quarter worth approximately $40,000. Lazard Asset Management LLC acquired a new position in shares of Transcat during the second quarter worth $54,000. Quantbot Technologies LP acquired a new position in shares of Transcat during the first quarter worth $76,000. Parkside Financial Bank & Trust purchased a new position in shares of Transcat in the second quarter valued at $79,000. Finally, PNC Financial Services Group Inc. grew its holdings in Transcat by 1,118.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,072 shares of the scientific and technical instruments company’s stock valued at $92,000 after purchasing an additional 984 shares in the last quarter. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

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.