Transcat (NASDAQ:TRNS) Shares Down 5.4% - What's Next?

Transcat, Inc. (NASDAQ:TRNS - Get Free Report)'s share price was down 5.4% during mid-day trading on Monday . The company traded as low as $81.34 and last traded at $80.56. Approximately 24,594 shares traded hands during trading, a decline of 67% from the average daily volume of 74,023 shares. The stock had previously closed at $85.13.

Analyst Ratings Changes

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

Transcat Trading Up 1.5 %

The business's 50 day simple moving average is $76.95 and its two-hundred day simple moving average is $93.36. The stock has a market cap of $752.31 million, a P/E ratio of 43.68 and a beta of 0.69. The company has a quick ratio of 1.98, a current ratio of 2.42 and a debt-to-equity ratio of 0.14.

Transcat (NASDAQ:TRNS - Get Free Report) last issued its quarterly earnings data on Monday, January 27th. The scientific and technical instruments company reported $0.45 earnings per share for the quarter, topping analysts' consensus estimates of $0.38 by $0.07. Transcat had a return on equity of 7.23% and a net margin of 6.22%. During the same quarter last year, the company posted $0.56 EPS. As a group, analysts expect that Transcat, Inc. will post 2.3 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. raised its stake in shares of Transcat by 178.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 518,597 shares of the scientific and technical instruments company's stock valued at $54,837,000 after acquiring an additional 332,064 shares during the last quarter. Champlain Investment Partners LLC increased its holdings in Transcat by 35.7% in the fourth quarter. Champlain Investment Partners LLC now owns 555,650 shares of the scientific and technical instruments company's stock valued at $58,754,000 after purchasing an additional 146,150 shares during the period. Royal Bank of Canada raised its position in Transcat by 328.4% during the 4th quarter. Royal Bank of Canada now owns 173,514 shares of the scientific and technical instruments company's stock worth $18,348,000 after purchasing an additional 133,013 shares during the last quarter. Granahan Investment Management LLC lifted its holdings in Transcat by 132.0% during the 4th quarter. Granahan Investment Management LLC now owns 188,763 shares of the scientific and technical instruments company's stock worth $19,960,000 after buying an additional 107,389 shares during the period. Finally, Bessemer Group Inc. increased its stake in shares of Transcat by 1,692.4% in the fourth quarter. Bessemer Group Inc. now owns 109,608 shares of the scientific and technical instruments company's stock valued at $11,590,000 after buying an additional 103,493 shares during the period. 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.