Transcat (NASDAQ:TRNS) Stock Crosses Above 50 Day Moving Average – What’s Next?

Transcat, Inc. (NASDAQ:TRNS) shares crossed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $86.33 and traded as high as $87.41. Transcat shares last traded at $87.32, with a volume of 197,140 shares.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TRNS. Weiss Ratings reiterated a “sell (d+)” rating on shares of Transcat in a report on Tuesday, August 25th. CJS Securities started coverage on Transcat in a research report on Tuesday. They set an “outperform” rating and a $115.00 price target on the stock. Finally, Northland Securities upgraded Transcat from a “market perform” rating to an “outperform” rating and set a $95.00 price target on the stock in a research note on Wednesday, October 21st. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $105.00.

Transcat Stock Performance

The business has a 50 day moving average of $86.33 and a two-hundred day moving average of $81.23.

Transcat (NASDAQ:TRNS) last issued its quarterly earnings data on Tuesday, August 4th. The scientific and technical instruments company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.13. The company had revenue of $92.95 million for the quarter, compared to the consensus estimate of $86.55 million. As a group, analysts anticipate that Transcat, Inc. will post 1.74 earnings per share for the current fiscal year.

Insider Transactions at Transcat

In other Transcat news, Director Christopher P. Gillette sold 504 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $94.23, for a total transaction of $47,491.92. Following the completion of the sale, the director directly owned 200 shares of the company’s stock, valued at approximately $18,846. This represents a 71.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Craig Cairns acquired 1,050 shares of the business’s stock in a transaction dated Thursday, August 6th. The stock was purchased at an average cost of $93.97 per share, for a total transaction of $98,668.50. Following the transaction, the director owned 1,480 shares in the company, valued at approximately $139,075.60. The trade was a 244.19% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Transcat

Several institutional investors have recently bought and sold shares of the company. Integrated Wealth Concepts LLC purchased a new position in Transcat in the second quarter worth $32,000. Persistent Asset Partners Ltd acquired a new position in shares of Transcat during the second quarter worth $52,000. GAMMA Investing LLC increased its position in shares of Transcat by 133.6% during the third quarter. GAMMA Investing LLC now owns 1,030 shares of the scientific and technical instruments company’s stock worth $91,000 after purchasing an additional 589 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in shares of Transcat by 9.0% during the 2nd quarter. Squarepoint Ops LLC now owns 8,794 shares of the scientific and technical instruments company’s stock valued at $816,000 after purchasing an additional 728 shares during the last quarter. Finally, Corient Private Wealth LP lifted its holdings in shares of Transcat by 9.1% during the 2nd quarter. Corient Private Wealth LP now owns 9,509 shares of the scientific and technical instruments company’s stock valued at $882,000 after purchasing an additional 791 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Transcat Company Profile

Transcat, Inc (NASDAQ: TRNS) provides calibration, compliance, and measurement services for organizations that rely on accurate test and measurement equipment. The company supports customers in regulated industries, including life sciences, aerospace and defense, energy, manufacturing, and other industrial markets.

Its service offerings include laboratory and onsite calibration, repair, validation, and asset-management services. Transcat calibrates a broad range of equipment used to measure temperature, pressure, electrical and electronic properties, radio frequency signals, dimensional characteristics, and other technical parameters.