Transcat (NASDAQ:TRNS) Shares Gap Down - Time to Sell?

Key Points

• Shares gapped down: TRNS opened at $78.01 after a $81.82 close and was last around $77.25, down about 3.3% with 13,469 shares changing hands.
• Mixed analyst sentiment: Zacks recently cut Transcat to a "strong sell" and Weiss Ratings maintains a "sell," yet the MarketBeat consensus is a "Hold" with a target price of $105.33.
• Fundamentals and results: The company missed Q earnings ($0.26 vs. $0.30 expected) despite a revenue beat, trades at a high P/E of 89.17 with a market cap of ~$707M, and reports a slim net margin (2.47%).

Transcat, Inc. (NASDAQ:TRNS - Get Free Report) shares gapped down before the market opened on Thursday . The stock had previously closed at $81.82, but opened at $78.01. Transcat shares last traded at $77.2540, with a volume of 13,469 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on TRNS shares. Zacks Research downgraded Transcat from a "hold" rating to a "strong sell" rating in a research report on Monday, April 6th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Transcat in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $105.33.

Transcat Stock Down 3.3%

The stock has a 50-day moving average of $75.85 and a two-hundred day moving average of $67.14. The company has a market cap of $707.17 million, a P/E ratio of 89.17 and a beta of 0.71. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.85 and a current ratio of 2.21.

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

Institutional Trading of Transcat

Hedge funds have recently bought and sold shares of the company. State of Alaska Department of Revenue bought a new stake in Transcat in the 3rd quarter worth approximately $40,000. Lazard Asset Management LLC bought a new stake in Transcat in the second quarter valued at approximately $54,000. Tower Research Capital LLC TRC lifted its position in Transcat by 245.5% in the second quarter. Tower Research Capital LLC TRC now owns 1,123 shares of the scientific and technical instruments company's stock valued at $97,000 after purchasing an additional 798 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Transcat by 42.7% in the third quarter. PNC Financial Services Group Inc. now owns 1,530 shares of the scientific and technical instruments company's stock valued at $112,000 after purchasing an additional 458 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its position in Transcat by 79.2% in the third quarter. Jones Financial Companies Lllp now owns 1,634 shares of the scientific and technical instruments company's stock valued at $120,000 after purchasing an additional 722 shares during the last quarter. Institutional investors 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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