Transcat (NASDAQ:TRNS) Shares Up 11.4% – Should You Buy?

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TRNS. Northland Securities set a $95.00 target price on shares of Transcat in a report on Thursday, October 23rd. Zacks Research raised Transcat from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 7th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Transcat in a research report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus 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 company has a quick ratio of 2.06, a current ratio of 2.43 and a debt-to-equity ratio of 0.38. The company’s 50-day moving average is $59.26 and its two-hundred day moving average is $68.44.

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

Institutional Investors Weigh In On Transcat

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Conestoga Capital Advisors LLC lifted 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 valued at $93,565,000 after buying an additional 131,217 shares in the last quarter. Bessemer Group Inc. lifted its holdings in Transcat by 35.8% during the 2nd quarter. Bessemer Group Inc. now owns 244,491 shares of the scientific and technical instruments company’s stock worth $21,016,000 after purchasing an additional 64,422 shares in the last quarter. Geode Capital Management LLC boosted its stake in Transcat by 1.8% in the 2nd quarter. Geode Capital Management LLC now owns 223,202 shares of the scientific and technical instruments company’s stock worth $19,189,000 after purchasing an additional 4,030 shares during the period. Atria Investments Inc purchased a new position in Transcat during the 2nd quarter valued at about $259,000. Finally, 4D Advisors LLC purchased a new position in Transcat during the 2nd quarter valued at about $3,009,000. 98.34% of the stock is currently owned by institutional investors.

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.