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

Transcat, Inc. (NASDAQ:TRNS) shares 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

A number of brokerages have weighed in on TRNS. Northland Securities reaffirmed a “market perform” rating and issued a $85.00 target price (down previously from $110.00) on shares of Transcat in a report on Wednesday, January 29th. Oppenheimer cut Transcat from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 29th. StockNews.com cut shares of Transcat from a “hold” rating to a “sell” rating in a report on Wednesday, February 5th. HC Wainwright decreased their price target on shares of Transcat from $126.00 to $106.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Finally, Craig Hallum increased their price objective 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. One equities 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $111.50.

Transcat Stock Down 1.3 %

The stock has a 50 day moving average price of $82.92 and a 200 day moving average price of $102.72. The company has a quick ratio of 1.98, a current ratio of 2.42 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $642.97 million, a price-to-earnings ratio of 37.34 and a beta of 0.66.

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, topping analysts’ consensus estimates 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 quarter last year, the business posted $0.56 EPS. As a group, analysts forecast that Transcat, Inc. will post 2.3 EPS for the current year.

Insider Buying and Selling

In related news, Director Craig D. Cairns acquired 1,200 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were bought at an average cost of $77.02 per share, with a total value of $92,424.00. Following the completion of the purchase, the director now directly owns 1,910 shares in the company, valued at $147,108.20. The trade was a 169.01 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 2.30% of the stock is currently owned by insiders.

Institutional Trading of Transcat

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Neuberger Berman Group LLC boosted its stake in shares of Transcat by 1.8% in the 4th quarter. Neuberger Berman Group LLC now owns 873,985 shares of the scientific and technical instruments company’s stock valued at $92,415,000 after purchasing an additional 15,723 shares during the last quarter. Champlain Investment Partners LLC lifted its holdings in Transcat by 35.7% in the fourth quarter. Champlain Investment Partners LLC now owns 555,650 shares of the scientific and technical instruments company’s stock valued at $58,754,000 after buying an additional 146,150 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in Transcat by 178.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 518,597 shares of the scientific and technical instruments company’s stock valued at $54,837,000 after acquiring an additional 332,064 shares during the last quarter. Geode Capital Management LLC grew its holdings in Transcat by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 219,354 shares of the scientific and technical instruments company’s stock worth $23,200,000 after acquiring an additional 1,881 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Transcat by 5.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 209,200 shares of the scientific and technical instruments company’s stock worth $22,121,000 after acquiring an additional 10,186 shares in the last quarter. 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.