Transcat (NASDAQ:TRNS) Shares Gap Up – Here’s Why

Transcat, Inc. (NASDAQ:TRNS) gapped up before the market opened on Friday . The stock had previously closed at $67.86, but opened at $71.76. Transcat shares last traded at $72.88, with a volume of 8,727 shares changing hands.

Wall Street Analyst Weigh In

TRNS has been the subject of a number of analyst reports. Zacks Research raised shares of Transcat from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Transcat in a research note on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Transcat presently has an average rating of “Moderate Buy” and a consensus target price of $105.33.

Transcat Stock Up 2.6%

The stock’s 50 day simple moving average is $75.73 and its two-hundred day simple moving average is $67.75. The firm has a market cap of $677.92 million, a P/E ratio of 85.48 and a beta of 0.68. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.21 and a quick ratio of 1.85.

Institutional Investors Weigh In On Transcat

Several institutional investors and hedge funds have recently made changes to their positions in the company. Deutsche Bank AG increased its position in shares of Transcat by 4.6% during the fourth quarter. Deutsche Bank AG now owns 7,053 shares of the scientific and technical instruments company’s stock valued at $400,000 after acquiring an additional 312 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Transcat by 6.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,462 shares of the scientific and technical instruments company’s stock valued at $407,000 after acquiring an additional 325 shares in the last quarter. Swiss National Bank increased its position in shares of Transcat by 2.2% during the fourth quarter. Swiss National Bank now owns 18,315 shares of the scientific and technical instruments company’s stock valued at $1,039,000 after acquiring an additional 400 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Transcat by 8.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,265 shares of the scientific and technical instruments company’s stock valued at $299,000 after acquiring an additional 432 shares in the last quarter. Finally, Diversified Trust Co increased its position in shares of Transcat by 8.8% during the first quarter. Diversified Trust Co now owns 5,495 shares of the scientific and technical instruments company’s stock valued at $404,000 after acquiring an additional 444 shares in the last quarter. Institutional investors own 98.34% of the company’s stock.

Transcat Company Profile

Transcat, Inc (NASDAQ: TRNS) is a leading provider of calibration, laboratory, and metrology services in North America. Founded in 1964 and headquartered in Ronkonkoma, New York, the company specializes in ensuring the accuracy and compliance of measurement instruments across a wide range of industries. Transcat operates a network of ISO/IEC 17025–accredited laboratories and offers on-site field calibration, instrument repair, and preventive maintenance services.

In addition to its calibration services, Transcat distributes precision instrumentation and related software solutions from top manufacturers.