Transcat (NASDAQ:TRNS) Shares Gap Up – What’s Next?

Transcat, Inc. (NASDAQ:TRNS)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $81.18, but opened at $89.65. Transcat shares last traded at $88.68, with a volume of 36,235 shares trading hands.

Wall Street Analyst Weigh In

Several analysts recently issued reports on TRNS shares. Northland Securities reissued a “market perform” rating and issued a $85.00 price target (down previously from $110.00) on shares of Transcat in a report on Wednesday, January 29th. StockNews.com raised Transcat from a “sell” rating to a “hold” rating in a research report on Tuesday. Oppenheimer cut Transcat from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. Finally, HC Wainwright boosted their price target on shares of Transcat from $106.00 to $116.00 and gave the company a “buy” rating in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Transcat presently has an average rating of “Hold” and a consensus target price of $114.00.

Transcat Stock 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 fifty day moving average price of $78.68 and a two-hundred day moving average price of $89.84. The company has a market cap of $841.44 million, a P/E ratio of 48.86 and a beta of 0.69.

Transcat (NASDAQ:TRNS) last posted its earnings results on Monday, May 19th. The scientific and technical instruments company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.02). The business had revenue of $77.13 million during the quarter, compared to analyst estimates of $76.40 million. Transcat had a net margin of 6.22% and a return on equity of 7.23%. The business’s quarterly revenue was up 8.8% on a year-over-year basis. On average, equities analysts forecast that Transcat, Inc. will post 2.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TRNS. Centiva Capital LP lifted its holdings in Transcat by 6.0% in the fourth quarter. Centiva Capital LP now owns 3,009 shares of the scientific and technical instruments company’s stock worth $318,000 after purchasing an additional 171 shares during the period. Bank of New York Mellon Corp raised its position in shares of Transcat by 0.6% during the 1st quarter. Bank of New York Mellon Corp now owns 27,916 shares of the scientific and technical instruments company’s stock worth $2,078,000 after buying an additional 172 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Transcat by 3.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,137 shares of the scientific and technical instruments company’s stock worth $543,000 after acquiring an additional 194 shares during the period. Diamond Hill Capital Management Inc. boosted its holdings in shares of Transcat by 3.4% in the first quarter. Diamond Hill Capital Management Inc. now owns 6,353 shares of the scientific and technical instruments company’s stock valued at $473,000 after acquiring an additional 210 shares in the last quarter. Finally, US Bancorp DE boosted its holdings in shares of Transcat by 14.6% in the first quarter. US Bancorp DE now owns 1,770 shares of the scientific and technical instruments company’s stock valued at $132,000 after acquiring an additional 226 shares in the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

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.