Transcat, Inc. (NASDAQ:TRNS) Stake Raised by State Street Corp

State Street Corp increased its position in shares of Transcat, Inc. (NASDAQ:TRNS - Free Report) by 8.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 207,230 shares of the scientific and technical instruments company's stock after buying an additional 15,514 shares during the period. State Street Corp owned about 2.25% of Transcat worth $25,027,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Arkadios Wealth Advisors raised its position in shares of Transcat by 1.8% in the 2nd quarter. Arkadios Wealth Advisors now owns 4,411 shares of the scientific and technical instruments company's stock valued at $528,000 after purchasing an additional 76 shares in the last quarter. Arizona State Retirement System increased its position in shares of Transcat by 5.3% in the 2nd quarter. Arizona State Retirement System now owns 2,555 shares of the scientific and technical instruments company's stock worth $306,000 after purchasing an additional 129 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of Transcat by 1.6% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 10,562 shares of the scientific and technical instruments company's stock valued at $1,264,000 after purchasing an additional 171 shares in the last quarter. Essex Investment Management Co. LLC raised its stake in shares of Transcat by 0.4% in the 3rd quarter. Essex Investment Management Co. LLC now owns 43,444 shares of the scientific and technical instruments company's stock valued at $5,247,000 after purchasing an additional 171 shares in the last quarter. Finally, US Bancorp DE lifted its position in shares of Transcat by 15.6% during the third quarter. US Bancorp DE now owns 1,547 shares of the scientific and technical instruments company's stock worth $187,000 after purchasing an additional 209 shares during the last quarter. Institutional investors and hedge funds own 98.34% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TRNS. StockNews.com cut Transcat from a "hold" rating to a "sell" rating in a research note on Tuesday, October 29th. Craig Hallum upped their price target on Transcat from $113.00 to $125.00 and gave the company a "buy" rating in a research report on Thursday, December 12th. Northland Securities decreased their price objective on shares of Transcat from $130.00 to $110.00 and set a "market perform" rating for the company in a report on Wednesday, October 30th. HC Wainwright reiterated a "buy" rating and set a $156.00 target price on shares of Transcat in a research note on Tuesday, October 29th. Finally, Oppenheimer restated an "outperform" rating and issued a $130.00 price target (down from $155.00) on shares of Transcat in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $130.25.

Transcat Trading Down 0.5 %

TRNS traded down $0.57 during trading on Monday, reaching $105.18. 37,762 shares of the company were exchanged, compared to its average volume of 55,327. Transcat, Inc. has a 52 week low of $94.29 and a 52 week high of $147.12. The firm has a 50 day moving average of $109.85 and a 200 day moving average of $118.63. The stock has a market cap of $967.55 million, a P/E ratio of 53.12 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 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.12). The firm had revenue of $67.83 million for the quarter, compared to the consensus estimate of $70.30 million. Transcat had a return on equity of 7.36% and a net margin of 6.63%. The firm's revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.41 EPS. As a group, analysts forecast that Transcat, Inc. will post 1.76 earnings per share for the current fiscal year.

Transcat 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.