Transcat (NASDAQ:TRNS) Shares Down 3.7% - Here's What Happened

Transcat, Inc. (NASDAQ:TRNS - Get Free Report) dropped 3.7% on Wednesday . The company traded as low as $101.89 and last traded at $101.89. Approximately 12,170 shares traded hands during trading, a decline of 71% from the average daily volume of 42,509 shares. The stock had previously closed at $105.78.

Analysts Set New Price Targets

TRNS has been the subject of several analyst reports. Northland Securities dropped their target price on Transcat from $130.00 to $110.00 and set a "market perform" rating for the company in a report on Wednesday, October 30th. Craig Hallum upped their price objective on shares of Transcat from $113.00 to $125.00 and gave the company a "buy" rating in a report on Thursday, December 12th. Oppenheimer restated an "outperform" rating and set a $130.00 price objective (down from $155.00) on shares of Transcat in a research report on Wednesday, October 30th. HC Wainwright reiterated a "buy" rating and issued a $156.00 target price on shares of Transcat in a report on Tuesday, October 29th. Finally, StockNews.com cut shares of Transcat from a "hold" rating to a "sell" rating in a research note on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $130.25.

Transcat Trading Down 3.0 %

The firm's fifty day moving average is $106.26 and its 200-day moving average is $116.68. The stock has a market capitalization of $943.91 million, a PE ratio of 51.82 and a beta of 0.71.

Transcat (NASDAQ:TRNS - Get Free Report) last announced its quarterly earnings results on Monday, October 28th. The scientific and technical instruments company reported $0.35 earnings per share for the quarter, missing analysts' consensus estimates of $0.47 by ($0.12). Transcat had a net margin of 6.63% and a return on equity of 7.36%. The company had revenue of $67.83 million for the quarter, compared to analyst estimates of $70.30 million. During the same quarter in the prior year, the business earned $0.41 earnings per share. Transcat's revenue was up 8.0% on a year-over-year basis. As a group, equities analysts predict that Transcat, Inc. will post 1.76 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TRNS. DekaBank Deutsche Girozentrale acquired a new stake in shares of Transcat in the second quarter valued at $40,000. nVerses Capital LLC acquired a new position in shares of Transcat in the third quarter valued at approximately $60,000. Quest Partners LLC purchased a new stake in Transcat during the 2nd quarter worth approximately $109,000. US Bancorp DE lifted its holdings in Transcat by 15.6% during the 3rd quarter. US Bancorp DE now owns 1,547 shares of the scientific and technical instruments company's stock worth $187,000 after buying an additional 209 shares in the last quarter. Finally, Captrust Financial Advisors purchased a new position in Transcat in the 3rd quarter valued at approximately $201,000. 98.34% of the stock is currently owned by institutional investors and hedge funds.

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.