Transcat (NASDAQ:TRNS) Shares Pass Below 200-Day Moving Average – Time to Sell?

Transcat, Inc. (NASDAQ:TRNS) crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $80.47 and traded as low as $69.18. Transcat shares last traded at $71.93, with a volume of 41,258 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Lake Street Capital assumed coverage on shares of Transcat in a research note on Thursday, July 10th. They issued a “buy” rating and a $105.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $116.00 price objective on shares of Transcat in a research note on Friday, August 22nd. Zacks Research raised shares of Transcat from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 7th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Transcat in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $112.20.

Transcat Stock Performance

The business has a 50-day moving average price of $77.61 and a 200-day moving average price of $80.47. The firm has a market capitalization of $670.39 million, a price-to-earnings ratio of 50.30 and a beta of 0.70. The company has a quick ratio of 2.36, a current ratio of 2.92 and a debt-to-equity ratio of 0.11.

Transcat (NASDAQ:TRNS) last issued its quarterly earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.19. The business had revenue of $76.42 million for the quarter, compared to the consensus estimate of $72.28 million. Transcat had a return on equity of 6.66% and a net margin of 4.64%. As a group, sell-side analysts forecast that Transcat, Inc. will post 2.3 earnings per share for the current year.

Hedge Funds Weigh In On Transcat

Several hedge funds have recently made changes to their positions in TRNS. Riverbridge Partners LLC increased its position in shares of Transcat by 94.3% in the 2nd quarter. Riverbridge Partners LLC now owns 440,747 shares of the scientific and technical instruments company’s stock valued at $37,887,000 after acquiring an additional 213,927 shares during the period. Conestoga Capital Advisors LLC boosted its stake in shares of Transcat by 13.7% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,088,471 shares of the scientific and technical instruments company’s stock worth $93,565,000 after acquiring an additional 131,217 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of Transcat by 17.1% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 607,360 shares of the scientific and technical instruments company’s stock worth $45,218,000 after acquiring an additional 88,763 shares in the last quarter. Bessemer Group Inc. boosted its stake in shares of Transcat by 64.3% during the 1st quarter. Bessemer Group Inc. now owns 180,069 shares of the scientific and technical instruments company’s stock worth $13,404,000 after acquiring an additional 70,461 shares in the last quarter. Finally, Neuberger Berman Group LLC boosted its stake in shares of Transcat by 5.5% during the 1st quarter. Neuberger Berman Group LLC now owns 921,898 shares of the scientific and technical instruments company’s stock worth $68,635,000 after acquiring an additional 47,913 shares in the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

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.