Transcat, Inc. (NASDAQ:TRNS) Shares Purchased by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC lifted its position in Transcat, Inc. (NASDAQ:TRNS) by 0.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,444 shares of the scientific and technical instruments company’s stock after acquiring an additional 171 shares during the quarter. Transcat accounts for approximately 0.9% of Essex Investment Management Co. LLC’s holdings, making the stock its 28th largest position. Essex Investment Management Co. LLC owned 0.47% of Transcat worth $5,247,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. DekaBank Deutsche Girozentrale bought a new position in Transcat in the second quarter worth about $40,000. First Horizon Advisors Inc. lifted its holdings 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 worth $72,000 after purchasing an additional 125 shares during the last quarter. Fifth Third Bancorp boosted its position in Transcat by 95.8% during the 2nd quarter. Fifth Third Bancorp now owns 656 shares of the scientific and technical instruments company’s stock valued at $79,000 after purchasing an additional 321 shares during the period. Quest Partners LLC acquired a new stake in Transcat in the second quarter worth $109,000. Finally, Hamilton Wealth LLC bought a new stake in Transcat in the first quarter valued at $212,000. 98.34% of the stock is currently owned by institutional investors.

Transcat Stock Up 4.2 %

Transcat stock traded up $5.15 during trading hours on Friday, hitting $126.51. 28,313 shares of the company traded hands, compared to its average volume of 72,526. Transcat, Inc. has a 1-year low of $84.45 and a 1-year high of $147.12. The firm has a market cap of $1.16 billion, a P/E ratio of 74.86 and a beta of 0.67. The firm’s 50-day simple moving average is $121.44 and its two-hundred day simple moving average is $121.01.

Transcat (NASDAQ:TRNS) last posted its quarterly earnings data on Monday, July 29th. The scientific and technical instruments company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.20. The business had revenue of $66.70 million for the quarter, compared to analyst estimates of $69.35 million. Transcat had a net margin of 5.69% and a return on equity of 8.48%. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter last year, the business earned $0.38 earnings per share. On average, equities research analysts predict that Transcat, Inc. will post 2.06 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TRNS. Craig Hallum reduced their target price on shares of Transcat from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. HC Wainwright reiterated a “buy” rating and set a $156.00 price objective on shares of Transcat in a research report on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Transcat has a consensus rating of “Moderate Buy” and a consensus target price of $151.33.

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.