Truist Financial Corp Has $1.36 Million Stock Position in Transcat, Inc. (NASDAQ:TRNS)

Truist Financial Corp lowered its holdings in shares of Transcat, Inc. (NASDAQ:TRNS) by 9.2% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,382 shares of the scientific and technical instruments company’s stock after selling 1,156 shares during the period. Truist Financial Corp owned about 0.12% of Transcat worth $1,362,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Wasatch Advisors LP raised its holdings in shares of Transcat by 7.9% during the 1st quarter. Wasatch Advisors LP now owns 756,220 shares of the scientific and technical instruments company’s stock worth $84,266,000 after buying an additional 55,121 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of Transcat during the 1st quarter worth $619,000. Calamos Advisors LLC raised its holdings in shares of Transcat by 76.0% during 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 buying an additional 6,667 shares in the last quarter. First Horizon Advisors Inc. raised its holdings 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 buying an additional 125 shares in the last quarter. Finally, Quest Partners LLC acquired a new position in shares of Transcat during the 2nd quarter worth $109,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

Analysts Set New Price Targets

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

Transcat Trading Up 4.2 %

NASDAQ TRNS opened at $126.51 on Friday. The business’s 50-day moving average price is $121.44 and its two-hundred day moving average price is $121.01. 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 $1.16 billion, a PE ratio of 74.86 and a beta of 0.67.

Transcat (NASDAQ:TRNS) last released its quarterly earnings results 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. Transcat had a return on equity of 8.48% and a net margin of 5.69%. The firm had revenue of $66.70 million for the quarter, compared to analyst estimates of $69.35 million. During the same quarter in the previous year, the company posted $0.38 EPS. The business’s revenue was up 10.1% on a year-over-year basis. As a group, analysts forecast that Transcat, Inc. will post 2.06 earnings per share for the current fiscal 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.