Geode Capital Management LLC Buys 11,106 Shares of Transcat, Inc. (NASDAQ:TRNS)

Geode Capital Management LLC lifted its holdings in shares of Transcat, Inc. (NASDAQ:TRNS - Free Report) by 5.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 217,473 shares of the scientific and technical instruments company's stock after purchasing an additional 11,106 shares during the quarter. Geode Capital Management LLC owned 2.36% of Transcat worth $26,269,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Conestoga Capital Advisors LLC raised its position 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. Royce & Associates LP raised its position in Transcat by 8.2% during the third quarter. Royce & Associates LP now owns 511,701 shares of the scientific and technical instruments company's stock valued at $61,798,000 after purchasing an additional 38,774 shares in the last quarter. Champlain Investment Partners LLC lifted its stake in Transcat by 22.1% during the third 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 holdings in shares of Transcat by 8.1% in 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 in the last quarter. Finally, Hood River Capital Management LLC increased its stake in shares of Transcat by 21.6% in the 2nd quarter. Hood River Capital Management LLC now owns 196,838 shares of the scientific and technical instruments company's stock valued at $23,558,000 after purchasing an additional 34,947 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TRNS. Oppenheimer restated an "outperform" rating and set a $130.00 price objective (down from $155.00) on shares of Transcat in a research report on Wednesday, October 30th. StockNews.com cut shares of Transcat from a "hold" rating to a "sell" rating in a report on Tuesday, October 29th. Craig Hallum lifted their price target on shares of Transcat from $113.00 to $125.00 and gave the company a "buy" rating in a report on Thursday, December 12th. Northland Securities dropped their price objective 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. Finally, HC Wainwright reaffirmed a "buy" rating and set a $156.00 target price on shares of Transcat in a research note on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $130.25.

Transcat Price Performance

NASDAQ TRNS traded down $1.92 during trading hours on Friday, reaching $106.01. The company's stock had a trading volume of 37,952 shares, compared to its average volume of 55,036. The firm has a fifty day simple moving average of $107.62 and a 200-day simple moving average of $118.04. Transcat, Inc. has a 52 week low of $94.29 and a 52 week high of $147.12. The stock has a market cap of $975.19 million, a P/E ratio of 53.54 and a beta of 0.70.

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

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.