Transcat (NASDAQ:TRNS) Shares Pass Below 200-Day Moving Average - Time to Sell?

Key Points

• Transcat's stock (NASDAQ:TRNS) recently dipped below its 200-day moving average of $80.47, closing at $71.93 after trading as low as $69.18.
• The company received various analyst ratings, including a "strong-buy" from Zacks and a target price of $116.00 from HC Wainwright, contributing to an average consensus target price of $112.20.
• Transcat reported positive earnings results, with $0.59 earnings per share, exceeding estimates, and revenue of $76.42 million for the last quarter.

Transcat, Inc. (NASDAQ:TRNS - Get Free Report)'s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $80.47 and traded as low as $69.18. Transcat shares last traded at $71.93, with a volume of 41,258 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on TRNS shares. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Transcat in a report on Wednesday, October 8th. HC Wainwright reaffirmed a "buy" rating and issued a $116.00 target price on shares of Transcat in a report on Friday, August 22nd. Zacks Research raised Transcat from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 7th. Finally, Lake Street Capital started coverage on Transcat in a report on Thursday, July 10th. They issued a "buy" rating and a $105.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $112.20.

Transcat Stock Up 3.0%

The company has a 50-day simple moving average of $77.61 and a 200-day simple moving average of $80.47. The firm has a market cap of $670.39 million, a PE ratio of 50.30 and a beta of 0.70. 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 announced its earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.19. Transcat had a return on equity of 6.66% and a net margin of 4.64%.The business had revenue of $76.42 million during the quarter, compared to analyst estimates of $72.28 million. Analysts expect that Transcat, Inc. will post 2.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TRNS. GAMMA Investing LLC boosted its holdings in shares of Transcat by 10,137.5% in the first quarter. GAMMA Investing LLC now owns 1,638 shares of the scientific and technical instruments company's stock valued at $122,000 after purchasing an additional 1,622 shares during the period. Rhumbline Advisers boosted its holdings in shares of Transcat by 6.2% in the first quarter. Rhumbline Advisers now owns 13,110 shares of the scientific and technical instruments company's stock valued at $976,000 after purchasing an additional 762 shares during the period. Conestoga Capital Advisors LLC boosted its holdings in shares of Transcat by 5.8% in the first quarter. Conestoga Capital Advisors LLC now owns 957,254 shares of the scientific and technical instruments company's stock valued at $71,268,000 after purchasing an additional 52,328 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in shares of Transcat by 6.9% in the first quarter. Oppenheimer Asset Management Inc. now owns 5,071 shares of the scientific and technical instruments company's stock valued at $378,000 after purchasing an additional 328 shares during the period. Finally, Bessemer Group Inc. boosted its holdings in shares of Transcat by 64.3% in the first quarter. Bessemer Group Inc. now owns 180,069 shares of the scientific and technical instruments company's stock valued at $13,404,000 after purchasing an additional 70,461 shares during the period. Hedge funds and other institutional investors own 98.34% of the company's stock.

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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