Transcat (NASDAQ:TRNS) Trading Down 3.8% - Should You Sell?

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

Analyst Upgrades and Downgrades

TRNS has been the subject of several recent analyst reports. Wall Street Zen upgraded Transcat from a "sell" rating to a "hold" rating in a research report on Wednesday, May 28th. HC Wainwright restated a "buy" rating and set a $116.00 target price (up previously from $106.00) on shares of Transcat in a research report on Wednesday, May 21st. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Transcat has an average rating of "Hold" and an average target price of $114.00.

Transcat Stock Down 2.8%

The company has a debt-to-equity ratio of 0.14, a current ratio of 2.42 and a quick ratio of 1.98. The stock has a market cap of $726.62 million, a PE ratio of 42.15 and a beta of 0.75. The business has a fifty day moving average of $82.20 and a 200-day moving average of $88.20.

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

Hedge Funds Weigh In On Transcat

A number of large investors have recently made changes to their positions in TRNS. Conestoga Capital Advisors LLC grew its holdings in shares of Transcat by 5.8% during 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 buying an additional 52,328 shares during the last quarter. Neuberger Berman Group LLC raised its holdings in Transcat by 5.5% in the 1st quarter. Neuberger Berman Group LLC now owns 921,898 shares of the scientific and technical instruments company's stock valued at $68,635,000 after acquiring an additional 47,913 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Transcat by 17.1% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 607,360 shares of the scientific and technical instruments company's stock worth $45,218,000 after buying an additional 88,763 shares during the last quarter. Champlain Investment Partners LLC increased its holdings in shares of Transcat by 7.6% during the 1st quarter. Champlain Investment Partners LLC now owns 598,026 shares of the scientific and technical instruments company's stock worth $44,523,000 after buying an additional 42,376 shares during the last quarter. Finally, Royce & Associates LP increased its holdings in shares of Transcat by 1.1% during the 1st quarter. Royce & Associates LP now owns 478,581 shares of the scientific and technical instruments company's stock worth $35,630,000 after buying an additional 5,327 shares during the last quarter. 98.34% of the stock is 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.