Transcat (NASDAQ:TRNS) Trading Down 5.4% - Here's What Happened

Transcat, Inc. (NASDAQ:TRNS - Get Free Report) shares fell 5.4% during mid-day trading on Monday . The stock traded as low as $81.34 and last traded at $80.56. 24,594 shares were traded during trading, a decline of 67% from the average session volume of 74,023 shares. The stock had previously closed at $85.13.

Analyst Upgrades and Downgrades

TRNS has been the subject of a number of research reports. Oppenheimer cut shares of Transcat from an "outperform" rating to a "market perform" rating in a research note on Wednesday, January 29th. Northland Securities reissued a "market perform" rating and set a $85.00 target price (down previously from $110.00) on shares of Transcat in a report on Wednesday, January 29th. HC Wainwright decreased their target price on Transcat from $126.00 to $106.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Finally, StockNews.com cut Transcat from a "hold" rating to a "sell" rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Transcat has a consensus rating of "Hold" and a consensus price target of $111.50.

Transcat Price Performance

The firm has a market capitalization of $743.04 million, a PE ratio of 43.15 and a beta of 0.69. The stock's 50 day simple moving average is $76.88 and its two-hundred day simple moving average is $92.79. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.98 and a current ratio of 2.42.

Hedge Funds Weigh In On Transcat

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp raised its holdings in shares of Transcat by 686.7% during the 4th quarter. Jones Financial Companies Lllp now owns 354 shares of the scientific and technical instruments company's stock worth $37,000 after acquiring an additional 309 shares during the period. Aquatic Capital Management LLC increased its position in Transcat by 1,052.0% during the fourth quarter. Aquatic Capital Management LLC now owns 1,152 shares of the scientific and technical instruments company's stock worth $122,000 after purchasing an additional 1,052 shares during the last quarter. GAMMA Investing LLC raised its stake in Transcat by 10,137.5% during the first quarter. GAMMA Investing LLC now owns 1,638 shares of the scientific and technical instruments company's stock worth $122,000 after purchasing an additional 1,622 shares during the period. Morgan Dempsey Capital Management LLC acquired a new position in Transcat in the 4th quarter valued at about $143,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Transcat in the 4th quarter valued at approximately $182,000. Institutional investors and hedge funds 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.