Transcat (NASDAQ:TRNS) Shares Down 8.4% – What’s Next?

Transcat, Inc. (NASDAQ:TRNS)’s stock price traded down 8.4% during trading on Tuesday . The company traded as low as $69.96 and last traded at $71.1590. 19,904 shares were traded during mid-day trading, a decline of 86% from the average session volume of 139,827 shares. The stock had previously closed at $77.71.

Analyst Ratings Changes

TRNS has been the topic of a number of analyst reports. Zacks Research upgraded Transcat from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Weiss Ratings reissued a “sell (d)” rating on shares of Transcat in a report on Monday, May 4th. One equities research 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 company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $105.33.

Transcat Trading Down 2.6%

The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.85 and a current ratio of 2.21. The business has a fifty day simple moving average of $75.76 and a 200 day simple moving average of $67.77. The stock has a market cap of $633.13 million, a price-to-earnings ratio of 79.84 and a beta of 0.68.

Institutional Trading of Transcat

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Transcat by 0.4% in 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 boosted its stake in shares of Transcat by 15.3% during the 4th 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 stake in shares of Transcat by 3.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 262,033 shares of the scientific and technical instruments company’s stock worth $19,244,000 after purchasing an additional 9,266 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of 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 worth $14,100,000 after buying an additional 216,579 shares in the last quarter. Finally, Bamco Inc. NY grew its holdings 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 worth $11,543,000 after buying an additional 11,911 shares in the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.

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.