Transcat (NASDAQ:TRNS) Shares Gap Up to $88.53

Transcat, Inc. (NASDAQ:TRNS – Get Rating) gapped up before the market opened on Tuesday . The stock had previously closed at $88.53, but opened at $90.99. Transcat shares last traded at $89.05, with a volume of 3,847 shares traded.

Analyst Ratings Changes

Several research analysts have commented on the company. Northland Securities lifted their price target on Transcat from $100.00 to $110.00 in a research report on Wednesday. Craig Hallum lifted their price target on Transcat from $92.00 to $103.00 in a research report on Wednesday. HC Wainwright lifted their price target on Transcat from $96.00 to $102.00 in a research report on Wednesday. Roth Capital lifted their price target on Transcat from $80.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, February 2nd. Finally, StockNews.com assumed coverage on Transcat in a research report on Thursday, May 18th. They set a “hold” rating on the stock. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $102.25.

Transcat Stock Down 1.9 %

The firm has a 50 day simple moving average of $83.92 and a two-hundred day simple moving average of $81.90. The company has a market capitalization of $685.08 million, a PE ratio of 64.05 and a beta of 0.76. The company has a current ratio of 2.42, a quick ratio of 1.75 and a debt-to-equity ratio of 0.49.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. US Bancorp DE grew its stake in shares of Transcat by 57.8% in the 3rd quarter. US Bancorp DE now owns 1,502 shares of the scientific and technical instruments company’s stock valued at $114,000 after purchasing an additional 550 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Transcat by 48.4% in the third quarter. Oppenheimer Asset Management Inc. now owns 9,495 shares of the scientific and technical instruments company’s stock valued at $719,000 after buying an additional 3,098 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in shares of Transcat by 1.9% in the third quarter. Neuberger Berman Group LLC now owns 838,892 shares of the scientific and technical instruments company’s stock valued at $63,496,000 after buying an additional 15,756 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Transcat by 20.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 37,098 shares of the scientific and technical instruments company’s stock valued at $2,629,000 after buying an additional 6,410 shares in the last quarter. Finally, Broadcrest Asset Management LLC boosted its stake in shares of Transcat by 8.9% in the fourth quarter. Broadcrest Asset Management LLC now owns 490,000 shares of the scientific and technical instruments company’s stock valued at $34,726,000 after buying an additional 40,000 shares in the last quarter. 83.24% of the stock is currently owned by hedge funds and other institutional investors.

Transcat Company Profile

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Transcat, Inc engages in provision of calibration and laboratory instrument services. It operates through the Service and Distribution segments. The Service segment offers calibration, repair, inspection, analytical qualifications, preventive maintenance, consulting, and other related services. The Distribution segment distributes professional grade test, measurement, and control instrumentation.