Transcat (NASDAQ:TRNS) Reaches New 52-Week Low – Here’s Why

Shares of Transcat, Inc. (NASDAQ:TRNS) hit a new 52-week low on Monday . The stock traded as low as $70.47 and last traded at $72.47, with a volume of 64162 shares traded. The stock had previously closed at $74.84.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TRNS. Oppenheimer downgraded shares of Transcat from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. Northland Securities restated a “market perform” rating and set a $85.00 price target (down from $110.00) on shares of Transcat in a research note on Wednesday, January 29th. Craig Hallum lifted their price objective on Transcat from $113.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. HC Wainwright decreased their target price on Transcat from $126.00 to $106.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Finally, StockNews.com downgraded Transcat from a “hold” rating to a “sell” rating in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Transcat has an average rating of “Hold” and a consensus price target of $111.50.

Transcat Stock Performance

The stock has a market capitalization of $665.41 million, a PE ratio of 38.64 and a beta of 0.66. The company has a quick ratio of 1.98, a current ratio of 2.42 and a debt-to-equity ratio of 0.14. The stock has a fifty day moving average of $88.42 and a 200-day moving average of $105.38.

Transcat (NASDAQ:TRNS) last announced its quarterly earnings data on Monday, January 27th. The scientific and technical instruments company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.07. Transcat had a return on equity of 7.23% and a net margin of 6.22%. During the same period in the previous year, the firm posted $0.56 earnings per share. Equities analysts anticipate that Transcat, Inc. will post 2.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Transcat news, Director Craig D. Cairns purchased 1,200 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was bought at an average cost of $77.02 per share, with a total value of $92,424.00. Following the acquisition, the director now directly owns 1,910 shares of the company’s stock, valued at approximately $147,108.20. This represents a 169.01 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Transcat

Several hedge funds and other institutional investors have recently made changes to their positions in TRNS. US Bancorp DE increased its stake in Transcat by 15.6% in the third quarter. US Bancorp DE now owns 1,547 shares of the scientific and technical instruments company’s stock valued at $187,000 after purchasing an additional 209 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Transcat by 8.8% in the 3rd quarter. Principal Financial Group Inc. now owns 4,611 shares of the scientific and technical instruments company’s stock valued at $557,000 after buying an additional 373 shares in the last quarter. Royce & Associates LP grew its position in shares of Transcat by 8.2% in the 3rd quarter. Royce & Associates LP now owns 511,701 shares of the scientific and technical instruments company’s stock valued at $61,798,000 after buying an additional 38,774 shares during the last quarter. Moran Wealth Management LLC grew its position in shares of Transcat by 50.3% in the 3rd quarter. Moran Wealth Management LLC now owns 3,793 shares of the scientific and technical instruments company’s stock valued at $458,000 after buying an additional 1,269 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in Transcat during the 3rd quarter worth $235,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

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.