Transcat (NASDAQ:TRNS) Trading 5.9% Higher – Here’s What Happened

Transcat, Inc. (NASDAQ:TRNS)’s share price traded up 5.9% during mid-day trading on Thursday . The stock traded as high as $56.42 and last traded at $56.0850. 21,735 shares were traded during trading, a decline of 80% from the average session volume of 106,931 shares. The stock had previously closed at $52.95.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TRNS. Zacks Research upgraded Transcat from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 7th. HC Wainwright reiterated a “buy” rating and set a $116.00 price objective on shares of Transcat in a research report on Friday, August 22nd. Northland Securities set a $95.00 target price on Transcat in a research note on Thursday, October 23rd. Northland Capmk upgraded shares of Transcat from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 23rd. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Transcat in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Transcat presently has a consensus rating of “Moderate Buy” and an average target price of $105.33.

Transcat Stock Performance

The company has a market capitalization of $524.35 million, a P/E ratio of 46.07 and a beta of 0.79. The company’s 50 day moving average is $62.53 and its 200-day moving average is $74.50. The company has a current ratio of 2.43, a quick ratio of 2.06 and a debt-to-equity ratio of 0.38.

Transcat (NASDAQ:TRNS) last announced its quarterly earnings data on Monday, November 3rd. The scientific and technical instruments company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.02). Transcat had a return on equity of 6.81% and a net margin of 3.75%.The business had revenue of $82.27 million during the quarter, compared to analysts’ expectations of $79.51 million. Equities analysts anticipate that Transcat, Inc. will post 2.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TRNS. Conestoga Capital Advisors LLC increased its holdings in Transcat by 13.7% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,088,471 shares of the scientific and technical instruments company’s stock worth $93,565,000 after buying an additional 131,217 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of Transcat by 17.1% during the first quarter. T. Rowe Price Investment Management Inc. now owns 607,360 shares of the scientific and technical instruments company’s stock valued at $45,218,000 after purchasing an additional 88,763 shares during the last quarter. Champlain Investment Partners LLC lifted 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 valued at $44,523,000 after buying an additional 42,376 shares during the period. Vanguard Group Inc. lifted its holdings in Transcat by 0.4% in the third quarter. Vanguard Group Inc. now owns 530,771 shares of the scientific and technical instruments company’s stock valued at $38,852,000 after acquiring an additional 2,041 shares during the period. Finally, Riverbridge Partners LLC grew its position in Transcat by 94.3% during the second quarter. Riverbridge Partners LLC now owns 440,747 shares of the scientific and technical instruments company’s stock valued at $37,887,000 after buying an additional 213,927 shares during the period. Hedge funds and other institutional investors own 98.34% of the company’s stock.

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.