Transcat (NASDAQ:TRNS) Share Price Passes Below 200 Day Moving Average - Time to Sell?

Key Points

• Transcat's share price has fallen below its 200-day moving average, with the stock trading at $70.54 after reaching a low of $69.48.
• Analysts maintain a consensus rating of "Moderate Buy" with a price target of $112.20, supported by a number of recent "buy" ratings from various equity research firms.
• The company reported a strong earnings performance with a surge in revenue to $76.42 million, exceeding analysts' expectations, and an EPS of $0.59, surpassing the forecast of $0.40.

Transcat, Inc. (NASDAQ:TRNS - Get Free Report)'s share price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $80.45 and traded as low as $69.48. Transcat shares last traded at $70.54, with a volume of 85,705 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Lake Street Capital assumed coverage on shares of Transcat in a research note on Thursday, July 10th. They set a "buy" rating and a $105.00 price objective on the stock. HC Wainwright reissued a "buy" rating and issued a $116.00 target price on shares of Transcat in a report on Friday, August 22nd. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $112.20.

Transcat Stock Performance

The stock has a market capitalization of $657.43 million, a PE ratio of 49.33 and a beta of 0.70. The business has a 50 day moving average price of $78.80 and a 200 day moving average price of $80.45. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.92 and a quick ratio of 2.36.

Transcat (NASDAQ:TRNS - Get Free Report) last released its earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.40 by $0.19. Transcat had a return on equity of 6.66% and a net margin of 4.64%.The firm had revenue of $76.42 million for the quarter, compared to analysts' expectations of $72.28 million. As a group, equities research analysts expect that Transcat, Inc. will post 2.3 earnings per share for the current year.

Institutional Investors Weigh In On Transcat

Institutional investors have recently modified their holdings of the stock. Lazard Asset Management LLC purchased a new stake in shares of Transcat during the second quarter valued at $54,000. Quantbot Technologies LP purchased a new stake in shares of Transcat during the first quarter valued at $76,000. Parkside Financial Bank & Trust purchased a new stake in shares of Transcat during the second quarter valued at $79,000. PNC Financial Services Group Inc. boosted its position in shares of Transcat by 1,118.2% during the second 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 buying an additional 984 shares during the last quarter. Finally, State of Wyoming purchased a new stake in shares of Transcat during the first quarter valued at $95,000. 98.34% of the stock is 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.

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