Transcat (NASDAQ:TRNS) Shares Down 5.5% – Here’s What Happened

Transcat, Inc. (NASDAQ:TRNS) traded down 5.5% on Tuesday . The company traded as low as $105.84 and last traded at $106.08. 56,104 shares traded hands during mid-day trading, an increase of 2% from the average session volume of 55,069 shares. The stock had previously closed at $112.22.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on TRNS shares. Northland Securities decreased their price objective on Transcat from $130.00 to $110.00 and set a “market perform” rating on the stock in a report on Wednesday, October 30th. Craig Hallum decreased their price objective on Transcat from $138.00 to $113.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. StockNews.com cut Transcat from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. HC Wainwright reissued a “buy” rating and set a $156.00 price objective on shares of Transcat in a report on Tuesday, October 29th. Finally, Oppenheimer reissued an “outperform” rating and set a $130.00 price objective (down from $155.00) on shares of Transcat in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Transcat presently has a consensus rating of “Hold” and an average price target of $127.25.

Transcat Trading Down 5.3 %

The stock has a 50 day simple moving average of $116.33 and a 200 day simple moving average of $121.51. The firm has a market capitalization of $977.67 million, a PE ratio of 54.26 and a beta of 0.69.

Transcat (NASDAQ:TRNS) last announced its quarterly earnings results on Monday, October 28th. The scientific and technical instruments company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.12). The company had revenue of $67.83 million during the quarter, compared to analysts’ expectations of $70.30 million. Transcat had a return on equity of 7.36% and a net margin of 6.63%. Transcat’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period last year, the firm earned $0.41 earnings per share. As a group, equities analysts anticipate that Transcat, Inc. will post 1.76 earnings per share for the current year.

Hedge Funds Weigh In On Transcat

Several hedge funds have recently made changes to their positions in TRNS. Conestoga Capital Advisors LLC increased its stake in shares of Transcat by 17.9% during the third quarter. Conestoga Capital Advisors LLC now owns 907,191 shares of the scientific and technical instruments company’s stock valued at $109,561,000 after buying an additional 137,830 shares during the period. Champlain Investment Partners LLC boosted its holdings in Transcat by 22.1% in the third quarter. Champlain Investment Partners LLC now owns 409,500 shares of the scientific and technical instruments company’s stock worth $49,455,000 after acquiring an additional 74,169 shares in the last quarter. Royce & Associates LP boosted its holdings in Transcat by 8.2% in the third quarter. Royce & Associates LP now owns 511,701 shares of the scientific and technical instruments company’s stock worth $61,798,000 after acquiring an additional 38,774 shares in the last quarter. Hood River Capital Management LLC boosted its holdings in Transcat by 21.6% in the second quarter. Hood River Capital Management LLC now owns 196,838 shares of the scientific and technical instruments company’s stock worth $23,558,000 after acquiring an additional 34,947 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Transcat by 28.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 79,303 shares of the scientific and technical instruments company’s stock worth $9,577,000 after acquiring an additional 17,743 shares in the last quarter. 98.34% of the stock is owned by hedge funds and other institutional investors.

About Transcat

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.