Trust Point Inc. Acquires 992 Shares of Transcat, Inc. (NASDAQ:TRNS)

Trust Point Inc. grew its holdings in Transcat, Inc. (NASDAQ:TRNS) by 37.5% during the third quarter, Holdings Channel.com reports. The firm owned 3,640 shares of the scientific and technical instruments company’s stock after acquiring an additional 992 shares during the quarter. Trust Point Inc.’s holdings in Transcat were worth $440,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in TRNS. DekaBank Deutsche Girozentrale acquired a new stake in Transcat in the 2nd quarter valued at $40,000. nVerses Capital LLC acquired a new stake in shares of Transcat in the third quarter valued at about $60,000. First Horizon Advisors Inc. raised its holdings in Transcat by 26.4% during the second quarter. First Horizon Advisors Inc. now owns 599 shares of the scientific and technical instruments company’s stock worth $72,000 after acquiring an additional 125 shares in the last quarter. Fifth Third Bancorp boosted its position in Transcat by 95.8% during the second 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 last quarter. Finally, Quest Partners LLC bought a new position in Transcat in the second quarter valued at approximately $109,000. Institutional investors own 98.34% of the company’s stock.

Analyst Upgrades and Downgrades

TRNS has been the topic of a number of analyst reports. HC Wainwright reiterated a “buy” rating and set a $156.00 price objective on shares of Transcat in a research note on Tuesday, July 30th. Craig Hallum lowered their target price on shares of Transcat from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Transcat currently has an average rating of “Moderate Buy” and an average target price of $151.33.

Transcat Stock Up 1.4 %

NASDAQ:TRNS opened at $132.45 on Friday. Transcat, Inc. has a 12-month low of $84.45 and a 12-month high of $147.12. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 78.37 and a beta of 0.67. The stock’s 50 day moving average price is $123.11 and its two-hundred day moving average price is $121.58.

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