Transcat (NASDAQ:TRNS) Hits New 12-Month Low – Here’s What Happened

Transcat, Inc. (NASDAQ:TRNS) hit a new 52-week low during trading on Thursday . The stock traded as low as $69.92 and last traded at $69.97, with a volume of 54460 shares trading hands. The stock had previously closed at $72.05.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Northland Securities reaffirmed a “market perform” rating and set a $85.00 price target (down previously from $110.00) on shares of Transcat in a research report on Wednesday, January 29th. Oppenheimer downgraded shares of Transcat from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. Craig Hallum increased their price target on shares of Transcat from $113.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. HC Wainwright lowered their price objective on shares of Transcat from $126.00 to $106.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Finally, StockNews.com downgraded shares of Transcat from a “hold” rating to a “sell” rating in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Transcat currently has an average rating of “Hold” and an average target price of $111.50.

Transcat Price Performance

The company’s 50-day moving average price is $82.92 and its two-hundred day moving average price is $102.72. 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 company has a market capitalization of $642.97 million, a P/E ratio of 37.34 and a beta of 0.66.

Transcat (NASDAQ:TRNS) last released its quarterly 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 net margin of 6.22% and a return on equity of 7.23%. During the same period in the previous year, the company posted $0.56 EPS. As a group, sell-side analysts expect that Transcat, Inc. will post 2.3 EPS for the current year.

Insider Activity at Transcat

In other Transcat news, Director Craig D. Cairns acquired 1,200 shares of the company’s stock in a transaction on Friday, January 31st. The stock was acquired 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 of the company’s stock, valued at $147,108.20. This trade represents a 169.01 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TRNS. Principal Financial Group Inc. grew its position 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 worth $557,000 after buying an additional 373 shares in the last quarter. Moran Wealth Management LLC grew its holdings in shares of Transcat by 50.3% during 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 purchasing an additional 1,269 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Transcat during the 3rd quarter worth $235,000. Charles Schwab Investment Management Inc. increased its position in shares of Transcat by 2.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 74,832 shares of the scientific and technical instruments company’s stock worth $9,037,000 after purchasing an additional 2,008 shares during the period. Finally, Champlain Investment Partners LLC raised its stake in 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. 98.34% of the stock is 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.