Transcat (NASDAQ:TRNS) Stock Price Up 5.9% – Here’s Why

Transcat, Inc. (NASDAQ:TRNS)’s share price shot up 5.9% on Thursday . The company traded as high as $56.42 and last traded at $56.0850. 21,735 shares changed hands during trading, a decline of 80% from the average session volume of 106,931 shares. The stock had previously closed at $52.95.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on TRNS shares. Zacks Research raised shares of Transcat from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 7th. Weiss Ratings restated a “sell (d+)” rating on shares of Transcat in a research note on Monday. HC Wainwright reaffirmed a “buy” rating and issued a $116.00 price objective on shares of Transcat in a report on Friday, August 22nd. Northland Securities set a $95.00 target price on Transcat in a report on Thursday, October 23rd. Finally, Northland Capmk raised Transcat from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $110.25.

Transcat Stock Up 8.9%

The company has a 50-day moving average of $63.10 and a two-hundred day moving average of $74.86. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.43 and a quick ratio of 2.06. The company has a market capitalization of $538.11 million, a PE ratio of 47.27 and a beta of 0.79.

Transcat (NASDAQ:TRNS) last posted its quarterly earnings data on Monday, November 3rd. The scientific and technical instruments company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.02). Transcat had a return on equity of 6.81% and a net margin of 3.75%.The company had revenue of $82.27 million during the quarter, compared to the consensus estimate of $79.51 million. Sell-side analysts anticipate that Transcat, Inc. will post 2.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Transcat

A number of institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue bought a new stake in Transcat during the third quarter valued at about $40,000. Lazard Asset Management LLC bought a new stake in Transcat during the 2nd quarter valued at approximately $54,000. Quantbot Technologies LP bought a new stake in Transcat during the 1st quarter valued at approximately $76,000. Parkside Financial Bank & Trust purchased a new position in Transcat in the 2nd quarter worth approximately $79,000. Finally, PNC Financial Services Group Inc. lifted its holdings in Transcat by 1,118.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,072 shares of the scientific and technical instruments company’s stock worth $92,000 after purchasing an additional 984 shares in the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

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.