Transcat, Inc. (NASDAQ:TRNS – Get Free Report) traded down 6.1% on Wednesday . The company traded as low as $68.87 and last traded at $71.7710. 22,065 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 140,070 shares. The stock had previously closed at $76.45.
Analysts Set New Price Targets
A number of research analysts have commented on the company. Zacks Research upgraded Transcat from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Weiss Ratings restated a “sell (d)” rating on shares of Transcat in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Transcat currently has a consensus rating of “Moderate Buy” and an average price target of $105.33.
View Our Latest Stock Analysis on TRNS
Transcat Stock Down 1.7%
Transcat (NASDAQ:TRNS – Get Free Report) last announced its quarterly earnings data on Tuesday, May 26th. The scientific and technical instruments company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. Transcat had a net margin of 1.62% and a return on equity of 5.87%. The firm had revenue of $89.33 million for the quarter, compared to analysts’ expectations of $89.79 million. Equities research analysts anticipate that Transcat, Inc. will post 1.86 EPS for the current fiscal year.
Institutional Investors Weigh In On Transcat
A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Transcat by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 530,771 shares of the scientific and technical instruments company’s stock valued at $38,852,000 after purchasing an additional 2,041 shares during the last quarter. Royce & Associates LP lifted its stake in Transcat by 15.3% in the fourth quarter. Royce & Associates LP now owns 390,546 shares of the scientific and technical instruments company’s stock worth $22,156,000 after purchasing an additional 51,774 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Transcat by 3.7% during the first quarter. Dimensional Fund Advisors LP now owns 262,033 shares of the scientific and technical instruments company’s stock valued at $19,244,000 after buying an additional 9,266 shares during the period. Wellington Management Group LLP boosted its position in Transcat by 677.7% during the fourth 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 buying an additional 216,579 shares during the period. Finally, Bamco Inc. NY grew its stake in shares of Transcat by 6.2% during the fourth quarter. Bamco Inc. NY now owns 203,477 shares of the scientific and technical instruments company’s stock valued at $11,543,000 after buying an additional 11,911 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors.
About Transcat
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.
Featured Articles
- Five stocks we like better than Transcat
- Flight Path to Profits: American Airlines Bets on SpaceX
- Wall Street Is Starting to Talk About Tesla’s Endgame
- Meta’s Manus Mess: Why China Blocked the Deal and What It Means
- China Deal Ignites Boeing’s Financial Afterburners
Receive News & Ratings for Transcat Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Transcat and related companies with MarketBeat.com's FREE daily email newsletter.
