Transcat (NASDAQ:TRNS) Reaches New 52-Week High – What’s Next?

Transcat, Inc. (NASDAQ:TRNS) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $95.22 and last traded at $91.3590, with a volume of 25376 shares trading hands. The stock had previously closed at $92.32.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TRNS. Wall Street Zen raised Transcat from a “sell” rating to a “hold” rating in a research note on Sunday, June 28th. Weiss Ratings raised Transcat from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, May 28th. Finally, Zacks Research upgraded Transcat from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $105.50.

Transcat Trading Down 0.7%

The company has a debt-to-equity ratio of 0.33, a current ratio of 2.33 and a quick ratio of 1.99. The firm’s 50 day moving average is $84.85 and its 200 day moving average is $76.09. The company has a market capitalization of $856.02 million, a PE ratio of 156.72 and a beta of 0.69.

Transcat (NASDAQ:TRNS) last announced its quarterly earnings results on Tuesday, May 26th. The scientific and technical instruments company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.05. The business had revenue of $89.33 million during the quarter, compared to analysts’ expectations of $89.79 million. Transcat had a net margin of 1.62% and a return on equity of 5.84%. As a group, equities analysts predict that Transcat, Inc. will post 1.71 EPS for the current year.

Institutional Trading of Transcat

Institutional investors have recently modified their holdings of the company. Wellington Management Group LLP increased its holdings in Transcat by 677.7% during the 4th quarter. Wellington Management Group LLP now owns 248,539 shares of the scientific and technical instruments company’s stock valued at $14,100,000 after purchasing an additional 216,579 shares during the period. First Eagle Investment Management LLC purchased a new stake in Transcat in the 4th quarter worth approximately $7,259,000. King Luther Capital Management Corp grew its position in shares of Transcat by 182.3% in the 4th quarter. King Luther Capital Management Corp now owns 103,750 shares of the scientific and technical instruments company’s stock worth $5,886,000 after buying an additional 67,000 shares during the last quarter. Royce & Associates LP grew its position in shares of Transcat by 15.3% in the 4th quarter. Royce & Associates LP now owns 390,546 shares of the scientific and technical instruments company’s stock worth $22,156,000 after buying an additional 51,774 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Transcat by 109.7% during the fourth quarter. Renaissance Technologies LLC now owns 95,200 shares of the scientific and technical instruments company’s stock valued at $5,401,000 after buying an additional 49,800 shares during the period. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Transcat Company Profile

Transcat, Inc (NASDAQ: TRNS) is a leading provider of calibration, laboratory, and metrology services in North America. Founded in 1964 and headquartered in Ronkonkoma, New York, the company specializes in ensuring the accuracy and compliance of measurement instruments across a wide range of industries. Transcat operates a network of ISO/IEC 17025–accredited laboratories and offers on-site field calibration, instrument repair, and preventive maintenance services.

In addition to its calibration services, Transcat distributes precision instrumentation and related software solutions from top manufacturers.