Transcat (NASDAQ:TRNS) Sets New 1-Year Low – Here’s Why

Transcat, Inc. (NASDAQ:TRNS) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as $80.30 and last traded at $82.34, with a volume of 33464 shares. The stock had previously closed at $99.13.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. StockNews.com upgraded shares of Transcat from a “sell” rating to a “hold” rating in a report on Tuesday. HC Wainwright dropped their target price on shares of Transcat from $126.00 to $106.00 and set a “buy” rating on the stock in a report on Wednesday. Northland Securities restated a “market perform” rating and set a $85.00 target price (down previously from $110.00) on shares of Transcat in a report on Wednesday. Craig Hallum upped their price target on Transcat from $113.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Finally, Oppenheimer downgraded Transcat from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $111.50.

Transcat Trading Down 15.1 %

The firm has a market capitalization of $676.20 million, a P/E ratio of 37.12 and a beta of 0.71. The business’s 50 day simple moving average is $104.40 and its two-hundred day simple moving average is $114.81.

Transcat (NASDAQ:TRNS) last released its quarterly earnings data on Monday, January 27th. The scientific and technical instruments company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.07. Transcat had a net margin of 6.63% and a return on equity of 7.36%. During the same quarter last year, the company posted $0.56 earnings per share. Analysts predict that Transcat, Inc. will post 2.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Transcat

A number of hedge funds have recently bought and sold shares of the business. nVerses Capital LLC purchased a new stake in shares of Transcat during the 3rd quarter valued at about $60,000. SG Americas Securities LLC purchased a new stake in Transcat in the fourth quarter worth approximately $182,000. US Bancorp DE grew its position in Transcat by 15.6% in the 3rd quarter. US Bancorp DE now owns 1,547 shares of the scientific and technical instruments company’s stock worth $187,000 after purchasing an additional 209 shares during the period. Captrust Financial Advisors purchased a new stake in Transcat during the 3rd quarter valued at $201,000. Finally, Walleye Capital LLC bought a new position in shares of Transcat during the 3rd quarter valued at $216,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

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.