Transcat (NASDAQ:TRNS) Reaches New 52-Week High – What’s Next?

Shares of Transcat, Inc. (NASDAQ:TRNS) hit a new 52-week high during trading on Tuesday . The company traded as high as $95.22 and last traded at $91.3590, with a volume of 25376 shares. The stock had previously closed at $92.32.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TRNS. Wall Street Zen upgraded shares of Transcat from a “sell” rating to a “hold” rating in a report on Sunday, June 28th. Weiss Ratings upgraded shares of Transcat from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, May 28th. Finally, Zacks Research raised shares of Transcat from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $105.50.

Transcat Price Performance

The business has a fifty day simple moving average of $84.85 and a two-hundred day simple moving average of $76.09. The company has a current ratio of 2.33, a quick ratio of 1.99 and a debt-to-equity ratio of 0.33. The stock has a market cap of $856.02 million, a PE ratio of 156.72 and a beta of 0.69.

Transcat (NASDAQ:TRNS) last released its earnings results on Tuesday, May 26th. The scientific and technical instruments company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. The company had revenue of $89.33 million during the quarter, compared to analysts’ expectations of $89.79 million. Transcat had a return on equity of 5.84% and a net margin of 1.62%. Research analysts forecast that Transcat, Inc. will post 1.71 earnings per share for the current year.

Hedge Funds Weigh In On Transcat

A number of institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted 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. First Eagle Investment Management LLC purchased a new stake in shares of Transcat in the 4th quarter worth about $7,259,000. King Luther Capital Management Corp grew its position in shares of Transcat by 182.3% in the 4th quarter. King Luther Capital Management Corp now owns 103,750 shares of the scientific and technical instruments company’s stock worth $5,886,000 after buying an additional 67,000 shares during the period. Royce & Associates LP increased its stake in shares of Transcat by 15.3% in 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 acquiring an additional 51,774 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Transcat by 109.7% in the 4th quarter. Renaissance Technologies LLC now owns 95,200 shares of the scientific and technical instruments company’s stock worth $5,401,000 after acquiring an additional 49,800 shares in the last quarter. Institutional investors 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.