Transcat (NASDAQ:TRNS) Reaches New 1-Year High – What’s Next?

Transcat, Inc. (NASDAQ:TRNS)’s stock price hit a new 52-week high on Friday . The stock traded as high as $94.76 and last traded at $90.6390, with a volume of 56968 shares. The stock had previously closed at $93.24.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Weiss Ratings upgraded shares of Transcat from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, May 28th. Zacks Research upgraded shares of Transcat from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Transcat has an average rating of “Moderate Buy” and an average price target of $105.33.

Transcat Price Performance

The stock’s fifty day moving average price is $77.70 and its 200-day moving average price is $69.46. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.99 and a current ratio of 2.33. The firm has a market cap of $838.26 million, a PE ratio of 155.17 and a beta of 0.71.

Transcat (NASDAQ:TRNS) last issued its quarterly earnings data on Tuesday, May 26th. The scientific and technical instruments company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. The firm had revenue of $89.33 million for the quarter, compared to analysts’ expectations of $89.79 million. Transcat had a net margin of 1.62% and a return on equity of 5.84%. As a group, equities analysts forecast that Transcat, Inc. will post 1.71 EPS for the current fiscal year.

Institutional Investors Weigh In On Transcat

Several hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP raised its holdings in Transcat by 677.7% in the fourth quarter. Wellington Management Group LLP now owns 248,539 shares of the scientific and technical instruments company’s stock valued at $14,100,000 after buying an additional 216,579 shares during the period. First Eagle Investment Management LLC bought a new stake in Transcat during the fourth quarter valued at $7,259,000. King Luther Capital Management Corp increased its stake in Transcat by 182.3% during the fourth quarter. King Luther Capital Management Corp now owns 103,750 shares of the scientific and technical instruments company’s stock valued at $5,886,000 after purchasing an additional 67,000 shares during the last quarter. Royce & Associates LP increased its stake in Transcat by 15.3% during the fourth quarter. Royce & Associates LP now owns 390,546 shares of the scientific and technical instruments company’s stock valued at $22,156,000 after purchasing an additional 51,774 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in Transcat by 109.7% during the fourth quarter. Renaissance Technologies LLC now owns 95,200 shares of the scientific and technical instruments company’s stock valued at $5,401,000 after purchasing an additional 49,800 shares during the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

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.