Transcat, Inc. (NASDAQ:TRNS - Get Free Report) shares gapped down prior to trading on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $119.51, but opened at $111.13. Transcat shares last traded at $104.88, with a volume of 18,955 shares.
The scientific and technical instruments company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.12). Transcat had a return on equity of 8.48% and a net margin of 5.69%. The company had revenue of $67.83 million during the quarter, compared to the consensus estimate of $70.30 million. During the same period last year, the firm posted $0.41 earnings per share. The company's revenue was up 8.0% compared to the same quarter last year.
Wall Street Analyst Weigh In
TRNS has been the subject of a number of analyst reports. StockNews.com lowered shares of Transcat from a "hold" rating to a "sell" rating in a research note on Tuesday. Craig Hallum reduced their price target on shares of Transcat from $150.00 to $138.00 and set a "buy" rating for the company in a research report on Wednesday, July 31st. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $156.00 price objective on shares of Transcat in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $151.33.
Read Our Latest Analysis on TRNS
Institutional Investors Weigh In On Transcat
Large investors have recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale bought a new position in shares of Transcat during the 2nd quarter valued at $40,000. nVerses Capital LLC purchased a new position in Transcat in the third quarter worth about $60,000. First Horizon Advisors Inc. grew its stake in shares of Transcat by 26.4% during the 2nd quarter. First Horizon Advisors Inc. now owns 599 shares of the scientific and technical instruments company's stock valued at $72,000 after purchasing an additional 125 shares during the period. Fifth Third Bancorp increased its position in shares of Transcat by 95.8% during the 2nd quarter. Fifth Third Bancorp now owns 656 shares of the scientific and technical instruments company's stock valued at $79,000 after purchasing an additional 321 shares during the last quarter. Finally, Quest Partners LLC bought a new position in shares of Transcat in the 2nd quarter worth approximately $109,000. Institutional investors own 98.34% of the company's stock.
Transcat Stock Down 16.8 %
The business's fifty day moving average is $123.33 and its 200-day moving average is $122.34. The company has a market cap of $909.97 million, a PE ratio of 58.85 and a beta of 0.67.
Transcat Company Profile
(
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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.
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