Hood River Capital Management LLC Has $23.56 Million Stake in Transcat, Inc. (NASDAQ:TRNS)

Hood River Capital Management LLC boosted its position in shares of Transcat, Inc. (NASDAQ:TRNS) by 21.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 196,838 shares of the scientific and technical instruments company’s stock after purchasing an additional 34,947 shares during the period. Hood River Capital Management LLC owned 2.15% of Transcat worth $23,558,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale purchased a new position in shares of Transcat during the second quarter valued at $40,000. First Horizon Advisors Inc. grew its stake in 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 valued at $72,000 after acquiring an additional 125 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Transcat by 95.8% in the 2nd 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 period. Quest Partners LLC purchased a new stake in shares of Transcat in the second quarter worth approximately $109,000. Finally, Hamilton Wealth LLC acquired a new stake in shares of Transcat during the first quarter worth approximately $212,000. 98.34% of the stock is owned by institutional investors and hedge funds.

Transcat Stock Down 3.6 %

NASDAQ TRNS opened at $128.02 on Monday. The company has a 50 day moving average price of $124.52 and a two-hundred day moving average price of $119.93. Transcat, Inc. has a 12-month low of $84.45 and a 12-month high of $147.12. The stock has a market capitalization of $1.17 billion, a PE ratio of 80.52 and a beta of 0.67.

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

Analyst Ratings Changes

TRNS has been the topic of several research reports. Craig Hallum dropped their price objective on shares of Transcat from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. HC Wainwright reissued a “buy” rating and set a $156.00 price objective on shares of Transcat in a research report on Tuesday, July 30th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Transcat has an average rating of “Moderate Buy” and a consensus target price of $151.33.

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.