Transcat (NASDAQ:TRNS) Trading Down 5.2% After Analyst Downgrade

Transcat, Inc. (NASDAQ:TRNS)’s share price was down 5.2% during trading on Wednesday after HC Wainwright lowered their price target on the stock from $126.00 to $106.00. HC Wainwright currently has a buy rating on the stock. Transcat traded as low as $81.25 and last traded at $82.04. Approximately 42,325 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 106,025 shares. The stock had previously closed at $86.53.

A number of other research firms have also weighed in on TRNS. Oppenheimer lowered shares of Transcat from an “outperform” rating to a “market perform” rating in a report on Wednesday. StockNews.com raised Transcat from a “sell” rating to a “hold” rating in a research note on Tuesday. Northland Securities reaffirmed a “market perform” rating and set a $85.00 target price (down previously from $110.00) on shares of Transcat in a research report on Wednesday. Finally, Craig Hallum raised their price objective on Transcat from $113.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Four 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.com, the company has an average rating of “Hold” and an average target price of $111.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Conestoga Capital Advisors LLC lifted its position in shares of Transcat by 17.9% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 907,191 shares of the scientific and technical instruments company’s stock valued at $109,561,000 after buying an additional 137,830 shares during the last quarter. Millrace Asset Group Inc. bought a new position in shares of Transcat in the third quarter worth $655,000. Champlain Investment Partners LLC grew its position in shares of Transcat by 22.1% in the third quarter. Champlain Investment Partners LLC now owns 409,500 shares of the scientific and technical instruments company’s stock valued at $49,455,000 after purchasing an additional 74,169 shares in the last quarter. State Street Corp raised its stake in shares of Transcat by 8.1% during the 3rd quarter. State Street Corp now owns 207,230 shares of the scientific and technical instruments company’s stock valued at $25,027,000 after purchasing an additional 15,514 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Transcat by 5.4% during the 3rd quarter. Geode Capital Management LLC now owns 217,473 shares of the scientific and technical instruments company’s stock worth $26,269,000 after purchasing an additional 11,106 shares in the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Transcat Stock Performance

The firm has a market cap of $757.94 million, a P/E ratio of 41.62 and a beta of 0.71. The firm has a 50 day simple moving average of $104.98 and a 200 day simple moving average of $115.11.

Transcat (NASDAQ:TRNS) last announced its quarterly earnings results on Monday, January 27th. The scientific and technical instruments company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.07. Transcat had a net margin of 6.63% and a return on equity of 7.36%. During the same period in the prior year, the business earned $0.56 EPS. Sell-side analysts predict that Transcat, Inc. will post 2.44 EPS for the current fiscal year.

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.