Transcat (NASDAQ:TRNS) Stock Passes Above Fifty Day Moving Average Following Analyst Downgrade
by Kim Johansen · The Markets DailyTranscat, Inc. (NASDAQ:TRNS – Get Free Report)’s stock price passed above its 50 day moving average during trading on Monday after Zacks Research upgraded the stock from a strong sell rating to a hold rating. The stock has a 50 day moving average of $73.34 and traded as high as $76.50. Transcat shares last traded at $75.48, with a volume of 120,517 shares traded.
Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Transcat in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Transcat currently has an average rating of “Hold” and an average price target of $105.33.
Read Our Latest Stock Analysis on Transcat
Hedge Funds Weigh In On Transcat
A number of large investors have recently bought and sold shares of TRNS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Transcat by 6.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,462 shares of the scientific and technical instruments company’s stock worth $407,000 after purchasing an additional 325 shares during the period. Jane Street Group LLC purchased a new position in Transcat in the 1st quarter worth approximately $1,674,000. JPMorgan Chase & Co. increased its stake in Transcat by 88.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 8,555 shares of the scientific and technical instruments company’s stock worth $735,000 after purchasing an additional 4,012 shares during the period. Legal & General Group Plc increased its stake in Transcat by 6.1% in the 2nd quarter. Legal & General Group Plc now owns 9,551 shares of the scientific and technical instruments company’s stock worth $821,000 after purchasing an additional 548 shares during the period. Finally, Rhumbline Advisers increased its stake in Transcat by 23.3% in the 2nd quarter. Rhumbline Advisers now owns 16,171 shares of the scientific and technical instruments company’s stock worth $1,390,000 after purchasing an additional 3,061 shares during the period. 98.34% of the stock is owned by hedge funds and other institutional investors.
Transcat Stock Up 4.7%
The company has a current ratio of 2.21, a quick ratio of 1.85 and a debt-to-equity ratio of 0.34. The stock has a 50 day simple moving average of $74.06 and a 200 day simple moving average of $66.88. The firm has a market capitalization of $737.63 million, a PE ratio of 93.01 and a beta of 0.71.
Transcat (NASDAQ:TRNS – Get Free Report) last announced its quarterly earnings results on Tuesday, February 3rd. The scientific and technical instruments company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.04). The company had revenue of $83.86 million during the quarter, compared to analysts’ expectations of $80.99 million. Transcat had a return on equity of 6.15% and a net margin of 2.47%. As a group, sell-side analysts forecast that Transcat, Inc. will post 2.3 earnings per share for the current year.
About Transcat
Transcat, Inc (NASDAQ: TRNS) is a leading provider of calibration, laboratory, and metrology services in North America. Founded in 1964 and headquartered in Ronkonkoma, New York, the company specializes in ensuring the accuracy and compliance of measurement instruments across a wide range of industries. Transcat operates a network of ISO/IEC 17025–accredited laboratories and offers on-site field calibration, instrument repair, and preventive maintenance services.
In addition to its calibration services, Transcat distributes precision instrumentation and related software solutions from top manufacturers.