Transcat (NASDAQ:TRNS) Hits New 52-Week Low – Here’s What Happened

Transcat, Inc. (NASDAQ:TRNS)’s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $70.47 and last traded at $72.47, with a volume of 64162 shares. The stock had previously closed at $74.84.

Analyst Ratings Changes

TRNS has been the topic of several research analyst reports. StockNews.com cut Transcat from a “hold” rating to a “sell” rating in a research note on Wednesday, February 5th. Northland Securities reaffirmed a “market perform” rating and set a $85.00 price objective (down from $110.00) on shares of Transcat in a research report on Wednesday, January 29th. HC Wainwright cut 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. Craig Hallum boosted their price target on shares of Transcat from $113.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Finally, Oppenheimer downgraded shares of Transcat from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. One 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. According to MarketBeat, Transcat presently has an average rating of “Hold” and an average target price of $111.50.

Transcat Price Performance

The company has a debt-to-equity ratio of 0.14, a current ratio of 2.42 and a quick ratio of 1.98. The stock has a market capitalization of $661.96 million, a price-to-earnings ratio of 38.44 and a beta of 0.66. The stock’s 50 day simple moving average is $89.12 and its 200-day simple moving average is $105.77.

Transcat (NASDAQ:TRNS) last posted its earnings results on Monday, January 27th. The scientific and technical instruments company reported $0.45 earnings per share for the quarter, beating the consensus estimate 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 earned $0.56 EPS. On average, analysts expect that Transcat, Inc. will post 2.3 EPS for the current fiscal year.

Insider Buying and Selling

In other Transcat news, Director Craig D. Cairns bought 1,200 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was purchased at an average price of $77.02 per share, for a total transaction of $92,424.00. Following the purchase, the director now directly owns 1,910 shares in the company, valued at $147,108.20. This trade represents a 169.01 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Transcat

Several hedge funds and other institutional investors have recently modified their holdings of the stock. US Bancorp DE grew its position in Transcat by 15.6% in the 3rd quarter. US Bancorp DE now owns 1,547 shares of the scientific and technical instruments company’s stock worth $187,000 after purchasing an additional 209 shares during the last quarter. Principal Financial Group Inc. increased its stake in Transcat by 8.8% during the third quarter. Principal Financial Group Inc. now owns 4,611 shares of the scientific and technical instruments company’s stock valued at $557,000 after acquiring an additional 373 shares during the period. Royce & Associates LP raised its holdings in Transcat by 8.2% in the 3rd quarter. Royce & Associates LP now owns 511,701 shares of the scientific and technical instruments company’s stock valued at $61,798,000 after acquiring an additional 38,774 shares in the last quarter. Moran Wealth Management LLC lifted its position in shares of Transcat by 50.3% in the 3rd quarter. Moran Wealth Management LLC now owns 3,793 shares of the scientific and technical instruments company’s stock worth $458,000 after acquiring an additional 1,269 shares during the period. Finally, Intech Investment Management LLC acquired a new stake in shares of Transcat during the 3rd quarter worth approximately $235,000. 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.