Transcat (NASDAQ:TRNS) Stock Price Down 3.7% – Should You Sell?

Shares of Transcat, Inc. (NASDAQ:TRNS) traded down 3.7% during mid-day trading on Wednesday . The stock traded as low as $101.89 and last traded at $101.89. 12,170 shares traded hands during trading, a decline of 71% from the average session volume of 42,509 shares. The stock had previously closed at $105.78.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. HC Wainwright reissued a “buy” rating and set a $156.00 target price on shares of Transcat in a report on Tuesday, October 29th. StockNews.com downgraded Transcat from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Northland Securities dropped their price target on Transcat from $130.00 to $110.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 30th. Craig Hallum increased their target price on Transcat from $113.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $130.00 price objective (down from $155.00) on shares of Transcat in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $130.25.

Transcat Trading Down 2.4 %

The company has a market cap of $949.80 million, a price-to-earnings ratio of 52.15 and a beta of 0.71. The business has a fifty day moving average price of $106.26 and a two-hundred day moving average price of $116.68.

Transcat (NASDAQ:TRNS) last issued its earnings results on Monday, October 28th. The scientific and technical instruments company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.12). Transcat had a net margin of 6.63% and a return on equity of 7.36%. The company had revenue of $67.83 million for the quarter, compared to analyst estimates of $70.30 million. During the same period last year, the business earned $0.41 EPS. The company’s quarterly revenue was up 8.0% on a year-over-year basis. On average, analysts anticipate that Transcat, Inc. will post 1.76 EPS for the current year.

Institutional Investors Weigh In On Transcat

Several large investors have recently made changes to their positions in the company. Conestoga Capital Advisors LLC lifted its stake in shares of Transcat by 17.9% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 907,191 shares of the scientific and technical instruments company’s stock valued at $109,561,000 after purchasing an additional 137,830 shares during the last quarter. Millrace Asset Group Inc. bought a new position in shares of Transcat in the third quarter worth about $655,000. Champlain Investment Partners LLC lifted its position in shares of Transcat by 22.1% during the 3rd quarter. Champlain Investment Partners LLC now owns 409,500 shares of the scientific and technical instruments company’s stock worth $49,455,000 after purchasing an additional 74,169 shares during the last quarter. State Street Corp boosted its stake in Transcat by 8.1% during the 3rd quarter. State Street Corp now owns 207,230 shares of the scientific and technical instruments company’s stock valued at $25,027,000 after purchasing an additional 15,514 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in Transcat by 64.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 22,661 shares of the scientific and technical instruments company’s stock valued at $2,737,000 after buying an additional 8,844 shares during the last quarter. 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.