Transcat (NASDAQ:TRNS) Stock Price Up 11.4% – Still a Buy?

Shares of Transcat, Inc. (NASDAQ:TRNS) shot up 11.4% during trading on Wednesday . The company traded as high as $73.74 and last traded at $70.56. 268,952 shares traded hands during mid-day trading, an increase of 129% from the average session volume of 117,703 shares. The stock had previously closed at $63.33.

Analyst Upgrades and Downgrades

TRNS has been the topic of several recent analyst reports. Zacks Research upgraded shares of Transcat from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 7th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Transcat in a research report on Monday, December 29th. Finally, Northland Securities set a $95.00 target price on Transcat in a research report on Thursday, October 23rd. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $105.33.

Transcat Stock Performance

The company has a market cap of $659.07 million, a P/E ratio of 57.90 and a beta of 0.79. The business has a 50 day moving average price of $59.26 and a two-hundred day moving average price of $68.44. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.06 and a current ratio of 2.43.

Transcat (NASDAQ:TRNS) last announced its quarterly earnings results on Tuesday, February 3rd. The scientific and technical instruments company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.04). The company had revenue of $83.86 million during the quarter, compared to analysts’ expectations of $80.99 million. Transcat had a return on equity of 6.81% and a net margin of 3.75%. On average, sell-side analysts anticipate that Transcat, Inc. will post 2.3 earnings per share for the current year.

Institutional Investors Weigh In On Transcat

Several institutional investors and hedge funds have recently bought and sold shares of TRNS. First Eagle Investment Management LLC purchased a new position in shares of Transcat during the fourth quarter valued at approximately $7,259,000. Kornitzer Capital Management Inc. KS boosted its holdings in Transcat by 3.7% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 58,780 shares of the scientific and technical instruments company’s stock valued at $3,335,000 after acquiring an additional 2,080 shares in the last quarter. Comerica Bank boosted its holdings in Transcat by 2.0% in the fourth quarter. Comerica Bank now owns 86,778 shares of the scientific and technical instruments company’s stock valued at $4,923,000 after acquiring an additional 1,680 shares in the last quarter. Teachers Retirement System of The State of Kentucky bought a new position in Transcat in the 4th quarter worth $1,974,000. Finally, Round Rock Advisors LLC lifted its position in shares of Transcat by 104.1% in the 4th quarter. Round Rock Advisors LLC now owns 15,515 shares of the scientific and technical instruments company’s stock worth $880,000 after purchasing an additional 7,914 shares during the period. Hedge funds and other 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.