Transcat, Inc. (NASDAQ:TRNS) Stock Position Lowered by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its holdings in shares of Transcat, Inc. (NASDAQ:TRNS) by 29.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,443 shares of the scientific and technical instruments company’s stock after selling 4,293 shares during the period. JPMorgan Chase & Co. owned approximately 0.11% of Transcat worth $1,261,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Essex Investment Management Co. LLC increased its stake in Transcat by 0.4% in the 3rd quarter. Essex Investment Management Co. LLC now owns 43,444 shares of the scientific and technical instruments company’s stock valued at $5,247,000 after buying an additional 171 shares during the period. US Bancorp DE grew 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 buying an additional 209 shares in the last quarter. Ellsworth Advisors LLC increased its holdings in Transcat by 4.4% in the third quarter. Ellsworth Advisors LLC now owns 5,041 shares of the scientific and technical instruments company’s stock worth $609,000 after buying an additional 213 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Transcat by 8.6% in the second quarter. The Manufacturers Life Insurance Company now owns 3,312 shares of the scientific and technical instruments company’s stock worth $396,000 after buying an additional 263 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Transcat by 8.8% during the third quarter. Principal Financial Group Inc. now owns 4,611 shares of the scientific and technical instruments company’s stock valued at $557,000 after acquiring an additional 373 shares in the last quarter. 98.34% of the stock is owned by institutional investors.

Transcat Stock Down 2.5 %

TRNS stock opened at $99.50 on Friday. The business’s 50-day simple moving average is $105.40 and its 200 day simple moving average is $115.64. 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 $915.30 million, a PE ratio of 50.25 and a beta of 0.71.

Transcat (NASDAQ:TRNS) last issued its earnings results on Monday, October 28th. The scientific and technical instruments company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.12). The firm had revenue of $67.83 million during the quarter, compared to analyst estimates of $70.30 million. Transcat had a net margin of 6.63% and a return on equity of 7.36%. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 earnings per share. On average, equities research analysts anticipate that Transcat, Inc. will post 2.44 EPS for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on TRNS. Craig Hallum lifted their price objective on shares of Transcat from $113.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Oppenheimer restated an “outperform” rating and set a $130.00 target price (down from $155.00) on shares of Transcat in a report on Wednesday, October 30th. HC Wainwright reiterated a “buy” rating and set a $156.00 price target on shares of Transcat in a research note on Tuesday, October 29th. StockNews.com downgraded Transcat from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Finally, Northland Securities reduced their target price on Transcat from $130.00 to $110.00 and set a “market perform” rating for the company in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus 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.