Transcat (NASDAQ:TRNS) Share Price Crosses Above Fifty Day Moving Average After Analyst Downgrade

Transcat, Inc. (NASDAQ:TRNS) shares passed above its 50-day moving average during trading on Monday after Zacks Research upgraded the stock from a strong sell rating to a hold rating. The stock has a 50-day moving average of $73.34 and traded as high as $76.50. Transcat shares last traded at $75.48, with a volume of 120,517 shares traded.

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Transcat in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Transcat has a consensus rating of “Hold” and an average target price of $105.33.

Institutional Investors Weigh In On Transcat

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of 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 acquiring an additional 2,041 shares during the period. Royce & Associates LP grew its stake in 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 buying an additional 51,774 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Transcat by 5.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 252,767 shares of the scientific and technical instruments company’s stock worth $14,340,000 after buying an additional 12,935 shares during the last quarter. Wellington Management Group LLP grew its stake in Transcat by 677.7% during the 4th 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 during the last quarter. Finally, Bamco Inc. NY lifted its position in Transcat by 6.2% during the 4th quarter. Bamco Inc. NY now owns 203,477 shares of the scientific and technical instruments company’s stock worth $11,543,000 after acquiring an additional 11,911 shares during the period. 98.34% of the stock is owned by institutional investors.

Transcat Trading Up 4.7%

The stock has a 50-day simple moving average of $74.06 and a 200 day simple moving average of $66.88. The company has a current ratio of 2.21, a quick ratio of 1.85 and a debt-to-equity ratio of 0.34. The company has a market cap of $737.63 million, a price-to-earnings ratio of 93.01 and a beta of 0.71.

Transcat (NASDAQ:TRNS) last issued its quarterly earnings results on Tuesday, February 3rd. The scientific and technical instruments company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.04). The firm had revenue of $83.86 million for the quarter, compared to analyst estimates of $80.99 million. Transcat had a return on equity of 6.15% and a net margin of 2.47%. As a group, equities research analysts predict that Transcat, Inc. will post 2.3 EPS for the current fiscal year.

Transcat Company Profile

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.