Transcat (NASDAQ:TRNS) Trading Down 5.2% After Analyst Downgrade

Transcat, Inc. (NASDAQ:TRNS)’s share price dropped 5.2% during trading on Wednesday after HC Wainwright lowered their price target on the stock from $126.00 to $106.00. HC Wainwright currently has a buy rating on the stock. Transcat traded as low as $81.25 and last traded at $82.04. Approximately 42,325 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 106,025 shares. The stock had previously closed at $86.53.

A number of other research firms also recently weighed in on TRNS. Oppenheimer downgraded Transcat from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Northland Securities reissued a “market perform” rating and issued a $85.00 target price (down from $110.00) on shares of Transcat in a report on Wednesday. Craig Hallum upped their price target on shares of Transcat from $113.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Finally, StockNews.com raised shares of Transcat from a “sell” rating to a “hold” rating in a research note on Tuesday. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $111.50.

Institutional Trading of Transcat

Hedge funds have recently added to or reduced their stakes in the stock. nVerses Capital LLC bought a new stake in shares of Transcat during the third quarter worth about $60,000. SG Americas Securities LLC bought a new stake in Transcat during the 4th quarter worth approximately $182,000. US Bancorp DE raised its stake in shares of Transcat by 15.6% during 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 acquiring an additional 209 shares during the last quarter. Captrust Financial Advisors acquired a new position in shares of Transcat during the third quarter worth $201,000. Finally, Walleye Capital LLC bought a new stake in shares of Transcat in the third quarter worth $216,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

Transcat Price Performance

The firm has a market capitalization of $757.94 million, a price-to-earnings ratio of 41.62 and a beta of 0.71. The stock has a fifty day moving average of $104.98 and a two-hundred day moving average of $115.11.

Transcat (NASDAQ:TRNS) last issued its quarterly earnings data on Monday, January 27th. The scientific and technical instruments company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.07. Transcat had a return on equity of 7.36% and a net margin of 6.63%. During the same quarter in the prior year, the business earned $0.56 earnings per share. On average, research analysts forecast that Transcat, Inc. will post 2.44 EPS for the current year.

Transcat Company Profile

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.