Transcat (NASDAQ:TRNS) Stock Price Breaks Below Two Hundred Day Moving Average – Here’s Why

Shares of Transcat, Inc. (NASDAQ:TRNS) passed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $85.11 and traded as low as $79.30. Transcat shares last traded at $80.35, with a volume of 105,166 shares trading hands.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TRNS. Weiss Ratings reissued a “sell (d+)” rating on shares of Transcat in a research note on Tuesday, August 25th. Northland Securities lowered shares of Transcat from an “outperform” rating to a “market perform” rating and set a $95.00 target price for the company. in a report on Wednesday, August 5th. Finally, Wall Street Zen raised shares of Transcat from a “sell” rating to a “hold” rating in a research note on Sunday, June 28th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $95.00.

Transcat Stock Down 2.7%

The stock has a market cap of $754.49 million, a PE ratio of 217.16 and a beta of 0.66. The business has a fifty day moving average of $87.70 and a 200-day moving average of $85.11. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.49 and a quick ratio of 2.11.

Transcat (NASDAQ:TRNS) last released its quarterly earnings data on Tuesday, August 4th. The scientific and technical instruments company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.38 by $0.13. Transcat had a return on equity of 5.56% and a net margin of 0.99%. The company had revenue of $92.95 million for the quarter, compared to the consensus estimate of $86.55 million. Equities research analysts anticipate that Transcat, Inc. will post 1.74 earnings per share for the current year.

Insider Buying and Selling at Transcat

In other Transcat news, Director Craig D. Cairns acquired 1,050 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was bought at an average cost of $93.97 per share, with a total value of $98,668.50. Following the completion of the purchase, the director directly owned 1,480 shares in the company, valued at $139,075.60. The trade was a 244.19% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher Gillette sold 504 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $94.23, for a total transaction of $47,491.92. Following the completion of the sale, the director directly owned 200 shares of the company’s stock, valued at approximately $18,846. This trade represents a 71.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC bought a new stake in shares of Transcat in the 2nd quarter valued at about $32,000. Persistent Asset Partners Ltd purchased a new stake in shares of Transcat in the 2nd quarter worth approximately $52,000. GAMMA Investing LLC lifted its position in shares of Transcat by 133.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,030 shares of the scientific and technical instruments company’s stock worth $91,000 after purchasing an additional 589 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of Transcat during the second quarter valued at approximately $204,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Transcat during the second quarter valued at approximately $226,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Transcat Company Profile

Transcat, Inc provides calibration, testing, repair, and compliance services for test and measurement equipment. Its offerings help organizations maintain the accuracy, reliability, and regulatory compliance of instruments used in manufacturing, laboratory, pharmaceutical, biotechnology, medical device, aerospace, defense, and other highly regulated environments.

The company provides both onsite and laboratory-based calibration services, along with equipment repair, validation, asset management, and related technical support.