Transcat (NASDAQ:TRNS) Shares Cross Above Fifty Day Moving Average - What's Next?

Key Points

• Transcat's shares crossed above its 50 day moving average of $73.34, trading as high as $76.50 and last at $75.48 on volume of 120,517, signaling short‑term bullish momentum.
• Wall Street consensus is a Moderate Buy with an average target of $105.33, although analyst opinions are mixed (1 Strong Buy, 2 Buy, 1 Hold, 1 Sell).
• Fundamentals are mixed: the company missed quarterly EPS ($0.26 vs. $0.30 est.) but beat revenue ($83.86M), and institutional ownership is very high at 98.34% with several major funds raising their stakes.

Transcat, Inc. (NASDAQ:TRNS - Get Free Report)'s stock price passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $73.34 and traded as high as $76.50. Transcat shares last traded at $75.48, with a volume of 120,517 shares traded.

Wall Street Analyst Weigh In

TRNS has been the subject of a number of research analyst reports. Weiss Ratings restated a "sell (d+)" rating on shares of Transcat in a research note on Monday, December 29th. Zacks Research upgraded shares of Transcat from a "strong sell" rating to a "hold" rating in a research note on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $105.33.

Transcat Trading Down 0.9%

The stock has a market cap of $704.23 million, a price-to-earnings ratio of 88.80 and a beta of 0.71. The business's fifty day simple moving average is $73.34 and its 200 day simple moving average is $66.79. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.21 and a quick ratio of 1.85.

Transcat (NASDAQ:TRNS - Get Free Report) last announced its quarterly earnings results on Tuesday, February 3rd. The scientific and technical instruments company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.04). Transcat had a net margin of 2.47% and a return on equity of 6.15%. The firm had revenue of $83.86 million for the quarter, compared to analyst estimates of $80.99 million. On average, research analysts predict that Transcat, Inc. will post 2.3 EPS for the current year.

Hedge Funds Weigh In On Transcat

Several hedge funds and other institutional investors have recently modified their holdings of TRNS. Wellington Management Group LLP boosted its holdings in shares of Transcat by 677.7% during 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 acquiring an additional 216,579 shares during the period. First Eagle Investment Management LLC acquired a new position in shares of Transcat during the fourth quarter valued at $7,259,000. King Luther Capital Management Corp boosted its holdings in shares of 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 acquiring an additional 67,000 shares during the period. Royce & Associates LP boosted its holdings in shares of 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 acquiring an additional 51,774 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in shares of 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 acquiring an additional 49,800 shares during the period. Institutional investors and hedge funds own 98.34% of the company's stock.

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.

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