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

Transcat, Inc. (NASDAQ:TRNS - Get Free Report) shares dropped 5.2% 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.

Several other analysts have also recently commented on the company. StockNews.com upgraded Transcat from a "sell" rating to a "hold" rating in a report on Tuesday. Oppenheimer lowered Transcat from an "outperform" rating to a "market perform" rating in a research report on Wednesday. Craig Hallum raised their price target on Transcat from $113.00 to $125.00 and gave the stock a "buy" rating in a research report on Thursday, December 12th. Finally, Northland Securities reissued a "market perform" rating and issued a $85.00 target price (down previously from $110.00) on shares of Transcat in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Transcat presently has an average rating of "Hold" and an average target price of $111.50.

Institutional Trading of Transcat

A number of hedge funds have recently bought and sold shares of the business. Rhumbline Advisers lifted its stake in shares of Transcat by 4.1% in the 4th quarter. Rhumbline Advisers now owns 12,348 shares of the scientific and technical instruments company's stock valued at $1,306,000 after acquiring an additional 486 shares during the last quarter. Catawba River Capital lifted its stake in shares of Transcat by 2.2% in the 4th quarter. Catawba River Capital now owns 67,300 shares of the scientific and technical instruments company's stock valued at $7,116,000 after acquiring an additional 1,473 shares during the last quarter. Linden Thomas Advisory Services LLC raised its position in Transcat by 23.2% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 6,477 shares of the scientific and technical instruments company's stock valued at $685,000 after purchasing an additional 1,219 shares during the last quarter. SG Americas Securities LLC bought a new position in Transcat during the 4th quarter valued at approximately $182,000. Finally, Annex Advisory Services LLC raised its position in Transcat by 47.6% during the 4th quarter. Annex Advisory Services LLC now owns 24,461 shares of the scientific and technical instruments company's stock valued at $2,587,000 after purchasing an additional 7,893 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors.

Transcat Stock Performance

The business has a 50-day simple moving average of $103.79 and a 200 day simple moving average of $114.55. The firm has a market cap of $705.73 million, a P/E ratio of 38.74 and a beta of 0.71.

Transcat (NASDAQ:TRNS - Get Free Report) last posted its quarterly earnings results on Monday, January 27th. The scientific and technical instruments company reported $0.45 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the company posted $0.56 EPS. On average, research analysts expect 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.