Transcat (NASDAQ:TRNS) Shares Down 3.8% - What's Next?

Transcat, Inc. (NASDAQ:TRNS - Get Free Report)'s stock price traded down 3.8% during trading on Wednesday . The company traded as low as $82.75 and last traded at $82.69. 28,139 shares were traded during trading, a decline of 66% from the average session volume of 83,065 shares. The stock had previously closed at $85.95.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Wall Street Zen upgraded shares of Transcat from a "sell" rating to a "hold" rating in a report on Wednesday, May 28th. HC Wainwright reiterated a "buy" rating and issued a $116.00 price target (up from $106.00) on shares of Transcat in a research note on Wednesday, May 21st. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $114.00.

Transcat Stock Up 0.4%

The company has a current ratio of 2.42, a quick ratio of 1.98 and a debt-to-equity ratio of 0.14. The firm's 50 day simple moving average is $82.13 and its 200-day simple moving average is $88.48. The stock has a market capitalization of $747.49 million, a price-to-earnings ratio of 43.36 and a beta of 0.69.

Transcat (NASDAQ:TRNS - Get Free Report) last issued its quarterly earnings results on Monday, May 19th. The scientific and technical instruments company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.02). The business had revenue of $77.13 million during the quarter, compared to analyst estimates of $76.40 million. Transcat had a net margin of 6.22% and a return on equity of 7.23%. The company's quarterly revenue was up 8.8% on a year-over-year basis. Equities analysts expect that Transcat, Inc. will post 2.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Centiva Capital LP increased its stake in shares of Transcat by 6.0% during the 4th quarter. Centiva Capital LP now owns 3,009 shares of the scientific and technical instruments company's stock worth $318,000 after purchasing an additional 171 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Transcat by 0.6% during the 1st quarter. Bank of New York Mellon Corp now owns 27,916 shares of the scientific and technical instruments company's stock worth $2,078,000 after purchasing an additional 172 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Transcat by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,137 shares of the scientific and technical instruments company's stock worth $543,000 after purchasing an additional 194 shares during the last quarter. Diamond Hill Capital Management Inc. increased its stake in shares of Transcat by 3.4% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 6,353 shares of the scientific and technical instruments company's stock worth $473,000 after purchasing an additional 210 shares during the last quarter. Finally, US Bancorp DE increased its stake in shares of Transcat by 14.6% during the 1st quarter. US Bancorp DE now owns 1,770 shares of the scientific and technical instruments company's stock worth $132,000 after purchasing an additional 226 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

About Transcat

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.