Transcat (NASDAQ:TRNS) Trading Down 3.7% – Should You Sell?

Transcat, Inc. (NASDAQ:TRNS)’s share price traded down 3.7% on Wednesday . The stock traded as low as $101.89 and last traded at $101.89. 12,170 shares traded hands during trading, a decline of 71% from the average session volume of 42,509 shares. The stock had previously closed at $105.78.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. HC Wainwright reaffirmed a “buy” rating and set a $156.00 price objective on shares of Transcat in a research report on Tuesday, October 29th. Craig Hallum upped their price objective on Transcat from $113.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Oppenheimer reaffirmed an “outperform” rating and issued a $130.00 price objective (down from $155.00) on shares of Transcat in a research report on Wednesday, October 30th. Northland Securities lowered their price objective on Transcat from $130.00 to $110.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 30th. Finally, StockNews.com cut Transcat from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $130.25.

Transcat Stock Up 0.4 %

The firm has a market capitalization of $947.60 million, a PE ratio of 52.02 and a beta of 0.71. The stock’s fifty day simple moving average is $106.10 and its 200 day simple moving average is $116.49.

Transcat (NASDAQ:TRNS) last announced its earnings results on Monday, October 28th. The scientific and technical instruments company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.12). Transcat had a return on equity of 7.36% and a net margin of 6.63%. The company had revenue of $67.83 million during the quarter, compared to the consensus estimate of $70.30 million. During the same period in the prior year, the business posted $0.41 earnings per share. Transcat’s revenue for the quarter was up 8.0% compared to the same quarter last year. On average, analysts predict that Transcat, Inc. will post 2.44 EPS for the current year.

Institutional Trading of Transcat

Several institutional investors and hedge funds have recently modified their holdings of the company. Conestoga Capital Advisors LLC raised its holdings in Transcat by 17.9% during the third 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 acquiring an additional 137,830 shares during the period. Millrace Asset Group Inc. purchased a new position in Transcat in the 3rd quarter worth approximately $655,000. Champlain Investment Partners LLC boosted its stake in Transcat by 22.1% in the 3rd quarter. Champlain Investment Partners LLC now owns 409,500 shares of the scientific and technical instruments company’s stock worth $49,455,000 after purchasing an additional 74,169 shares during the period. State Street Corp boosted its stake in Transcat by 8.1% in the 3rd quarter. State Street Corp now owns 207,230 shares of the scientific and technical instruments company’s stock worth $25,027,000 after purchasing an additional 15,514 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in Transcat by 64.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 22,661 shares of the scientific and technical instruments company’s stock worth $2,737,000 after purchasing an additional 8,844 shares during the period. 98.34% of the stock is currently owned by institutional investors.

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.