State Street Corp Raises Stock Position in Transcat, Inc. (NASDAQ:TRNS)

State Street Corp grew its stake in Transcat, Inc. (NASDAQ:TRNS) by 8.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 207,230 shares of the scientific and technical instruments company’s stock after purchasing an additional 15,514 shares during the quarter. State Street Corp owned about 2.25% of Transcat worth $25,027,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. DekaBank Deutsche Girozentrale purchased a new position in shares of Transcat during the second quarter valued at about $40,000. nVerses Capital LLC purchased a new position in shares of Transcat during the 3rd quarter worth approximately $60,000. Fifth Third Bancorp grew its holdings in shares of Transcat by 95.8% during the 2nd quarter. Fifth Third Bancorp now owns 656 shares of the scientific and technical instruments company’s stock worth $79,000 after acquiring an additional 321 shares during the period. Quest Partners LLC bought a new position in shares of Transcat in the 2nd quarter worth approximately $109,000. Finally, US Bancorp DE lifted its stake in shares of Transcat by 15.6% in the 3rd quarter. US Bancorp DE now owns 1,547 shares of the scientific and technical instruments company’s stock valued at $187,000 after purchasing an additional 209 shares during the period. 98.34% of the stock is owned by hedge funds and other institutional investors.

Transcat Stock Performance

Shares of TRNS stock opened at $105.75 on Monday. The company has a market capitalization of $972.79 million, a price-to-earnings ratio of 53.41 and a beta of 0.70. Transcat, Inc. has a one year low of $94.29 and a one year high of $147.12. The company’s 50-day moving average is $109.85 and its 200 day moving average is $118.70.

Transcat (NASDAQ:TRNS) last announced its quarterly 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 firm had revenue of $67.83 million for the quarter, compared to the consensus estimate of $70.30 million. Transcat had a net margin of 6.63% and a return on equity of 7.36%. Transcat’s revenue was up 8.0% on a year-over-year basis. During the same period last year, the business earned $0.41 EPS. As a group, research analysts predict that Transcat, Inc. will post 1.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TRNS has been the subject of a number of research reports. HC Wainwright reiterated a “buy” rating and issued a $156.00 price objective on shares of Transcat in a report on Tuesday, October 29th. Oppenheimer reiterated an “outperform” rating and issued a $130.00 price target (down from $155.00) on shares of Transcat in a research note on Wednesday, October 30th. StockNews.com lowered shares of Transcat from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Northland Securities decreased their target price on shares of Transcat from $130.00 to $110.00 and set a “market perform” rating for the company in a research note on Wednesday, October 30th. Finally, Craig Hallum lifted their target price on shares of Transcat from $113.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, December 12th. One investment 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’s stock. According to MarketBeat, Transcat currently has an average rating of “Hold” and an average price target of $130.25.

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.