Needham Investment Management LLC Boosts Stock Position in Transcat, Inc. (NASDAQ:TRNS)

Needham Investment Management LLC increased its position in shares of Transcat, Inc. (NASDAQ:TRNS) by 43.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,500 shares of the scientific and technical instruments company’s stock after purchasing an additional 12,000 shares during the period. Needham Investment Management LLC owned approximately 0.43% of Transcat worth $4,770,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Conestoga Capital Advisors LLC raised its holdings in shares of Transcat by 17.9% in the third quarter. Conestoga Capital Advisors LLC now owns 907,191 shares of the scientific and technical instruments company’s stock worth $109,561,000 after acquiring an additional 137,830 shares during the last quarter. Calamos Advisors LLC grew its stake in Transcat by 76.0% in the 2nd quarter. Calamos Advisors LLC now owns 15,441 shares of the scientific and technical instruments company’s stock worth $1,848,000 after acquiring an additional 6,667 shares during the period. Champlain Investment Partners LLC raised its holdings in Transcat by 22.1% in the 3rd quarter. Champlain Investment Partners LLC now owns 409,500 shares of the scientific and technical instruments company’s stock valued at $49,455,000 after acquiring an additional 74,169 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in shares of Transcat by 26.4% during 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 period. Finally, Raymond James & Associates boosted its holdings in shares of Transcat by 157.2% during the third quarter. Raymond James & Associates now owns 20,651 shares of the scientific and technical instruments company’s stock worth $2,494,000 after purchasing an additional 12,622 shares during the last quarter. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on TRNS shares. HC Wainwright reiterated a “buy” rating and set a $156.00 target price on shares of Transcat in a research report on Tuesday, October 29th. 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. StockNews.com lowered shares of Transcat from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Oppenheimer reissued an “outperform” rating and set a $130.00 price objective (down from $155.00) on shares of Transcat in a research note on Wednesday, October 30th. Finally, Northland Securities cut 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $127.25.

Transcat Stock Performance

Shares of NASDAQ:TRNS traded up $0.09 during midday trading on Tuesday, hitting $104.69. 4,133 shares of the company’s stock traded hands, compared to its average volume of 55,046. Transcat, Inc. has a twelve month low of $94.29 and a twelve month high of $147.12. The company has a market cap of $963.15 million, a PE ratio of 52.83 and a beta of 0.70. The firm’s fifty day moving average price is $114.42 and its two-hundred day moving average price is $121.13.

Transcat (NASDAQ:TRNS) last issued its earnings results 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 during the quarter, compared to analysts’ expectations of $70.30 million. Transcat had a return on equity of 7.36% and a net margin of 6.63%. Transcat’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.41 EPS. As a group, equities research analysts anticipate that Transcat, Inc. will post 1.76 EPS 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.