Royce & Associates LP raised its stake in Transcat, Inc. (NASDAQ:TRNS - Free Report) by 8.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 511,701 shares of the scientific and technical instruments company's stock after purchasing an additional 38,774 shares during the period. Transcat accounts for about 0.6% of Royce & Associates LP's holdings, making the stock its 26th biggest position. Royce & Associates LP owned 5.59% of Transcat worth $61,798,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in the stock. Arkadios Wealth Advisors boosted its stake in shares of Transcat by 1.8% during the second quarter. Arkadios Wealth Advisors now owns 4,411 shares of the scientific and technical instruments company's stock worth $528,000 after buying an additional 76 shares during the period. First Horizon Advisors Inc. grew its stake in shares of Transcat by 26.4% in 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 purchasing an additional 125 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Transcat by 5.3% in the second quarter. Arizona State Retirement System now owns 2,555 shares of the scientific and technical instruments company's stock valued at $306,000 after purchasing an additional 129 shares during the period. Oppenheimer Asset Management Inc. raised its stake in shares of Transcat by 1.6% during the second quarter. Oppenheimer Asset Management Inc. now owns 10,562 shares of the scientific and technical instruments company's stock worth $1,264,000 after purchasing an additional 171 shares during the last quarter. Finally, Essex Investment Management Co. LLC lifted its holdings in shares of Transcat by 0.4% during the third quarter. Essex Investment Management Co. LLC now owns 43,444 shares of the scientific and technical instruments company's stock worth $5,247,000 after purchasing an additional 171 shares during the period. 98.34% of the stock is currently owned by hedge funds and other institutional investors.
Transcat Stock Performance
Shares of NASDAQ:TRNS traded down $4.61 during trading on Friday, hitting $103.42. The company's stock had a trading volume of 91,919 shares, compared to its average volume of 55,237. The company has a market capitalization of $951.46 million, a PE ratio of 54.56 and a beta of 0.69. Transcat, Inc. has a fifty-two week low of $89.39 and a fifty-two week high of $147.12. The stock's 50-day moving average price is $118.56 and its two-hundred day moving average price is $121.68.
Transcat (NASDAQ:TRNS - Get Free Report) last announced 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). The company had revenue of $67.83 million for the quarter, compared to analyst estimates of $70.30 million. Transcat had a return on equity of 7.36% and a net margin of 6.63%. Transcat's revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.41 earnings per share. On average, equities analysts predict that Transcat, Inc. will post 1.76 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on TRNS shares. Northland Securities dropped their target price on Transcat from $130.00 to $110.00 and set a "market perform" rating on the stock in a research report on Wednesday, October 30th. Oppenheimer reiterated an "outperform" rating and issued a $130.00 price objective (down previously from $155.00) on shares of Transcat in a research report on Wednesday, October 30th. Craig Hallum decreased their target price on shares of Transcat from $138.00 to $113.00 and set a "buy" rating on the stock in a research report on Wednesday, October 30th. HC Wainwright reiterated a "buy" rating and issued a $156.00 price target on shares of Transcat in a report on Tuesday, October 29th. Finally, StockNews.com lowered shares of Transcat from a "hold" rating to a "sell" rating in a research report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $127.25.
Get Our Latest Stock Report on TRNS
About Transcat
(
Free Report)
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.
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