Millrace Asset Group Inc. Takes $655,000 Position in Transcat, Inc. (NASDAQ:TRNS)

Millrace Asset Group Inc. bought a new stake in Transcat, Inc. (NASDAQ:TRNS - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 5,421 shares of the scientific and technical instruments company's stock, valued at approximately $655,000. Millrace Asset Group Inc. owned 0.06% of Transcat as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Quadrature Capital Ltd bought a new position in Transcat in the first quarter worth $619,000. Conestoga Capital Advisors LLC raised 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 buying an additional 137,830 shares in the last quarter. Calamos Advisors LLC lifted its holdings in shares of Transcat by 76.0% during the 2nd quarter. Calamos Advisors LLC now owns 15,441 shares of the scientific and technical instruments company's stock worth $1,848,000 after acquiring an additional 6,667 shares during the period. First Horizon Advisors Inc. boosted its position in shares of Transcat by 26.4% during the 2nd quarter. First Horizon Advisors Inc. now owns 599 shares of the scientific and technical instruments company's stock valued at $72,000 after acquiring an additional 125 shares in the last quarter. Finally, Raymond James & Associates boosted its position in shares of Transcat by 157.2% during the 3rd quarter. Raymond James & Associates now owns 20,651 shares of the scientific and technical instruments company's stock valued at $2,494,000 after acquiring an additional 12,622 shares in the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

Transcat Stock Performance

Shares of NASDAQ TRNS traded down $6.60 during trading on Tuesday, reaching $105.62. The company had a trading volume of 123,358 shares, compared to its average volume of 55,463. Transcat, Inc. has a 52 week low of $94.29 and a 52 week high of $147.12. The business's 50 day moving average price is $116.33 and its 200-day moving average price is $121.51. The stock has a market cap of $971.60 million, a PE ratio of 53.34 and a beta of 0.69.

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

Analyst Ratings Changes

A number of research analysts have commented on the stock. Northland Securities cut their price target on shares of Transcat from $130.00 to $110.00 and set a "market perform" rating for the company in a research note on Wednesday, October 30th. HC Wainwright reissued a "buy" rating and issued a $156.00 target price on shares of Transcat in a report on Tuesday, October 29th. StockNews.com lowered Transcat from a "hold" rating to a "sell" rating in a research note on Tuesday, October 29th. Craig Hallum dropped their price objective on Transcat from $138.00 to $113.00 and set a "buy" rating for the company in a research note on Wednesday, October 30th. Finally, Oppenheimer reissued an "outperform" rating and set a $130.00 price objective (down from $155.00) on shares of Transcat in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $127.25.

Transcat Company Profile

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.