Intech Investment Management LLC Acquires Shares of 1,944 Transcat, Inc. (NASDAQ:TRNS)

Intech Investment Management LLC acquired a new position in shares of Transcat, Inc. (NASDAQ:TRNS) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 1,944 shares of the scientific and technical instruments company’s stock, valued at approximately $235,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Moran Wealth Management LLC boosted its stake in Transcat by 50.3% in the third quarter. Moran Wealth Management LLC now owns 3,793 shares of the scientific and technical instruments company’s stock valued at $458,000 after acquiring an additional 1,269 shares in the last quarter. Royce & Associates LP boosted its position in shares of Transcat by 8.2% in the 3rd quarter. Royce & Associates LP now owns 511,701 shares of the scientific and technical instruments company’s stock valued at $61,798,000 after purchasing an additional 38,774 shares during the period. Principal Financial Group Inc. grew its stake in Transcat by 8.8% during the 3rd quarter. Principal Financial Group Inc. now owns 4,611 shares of the scientific and technical instruments company’s stock worth $557,000 after buying an additional 373 shares during the last quarter. Conestoga Capital Advisors LLC increased its position in Transcat by 17.9% during 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 buying an additional 137,830 shares during the period. Finally, US Bancorp DE lifted its stake in Transcat by 15.6% in the third 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 during the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.

Transcat Stock Down 2.4 %

Shares of NASDAQ:TRNS opened at $103.34 on Friday. The company has a market capitalization of $950.73 million, a P/E ratio of 53.49 and a beta of 0.70. Transcat, Inc. has a 52-week low of $94.29 and a 52-week high of $147.12. The stock’s fifty day simple moving average is $113.13 and its 200-day simple moving average is $120.77.

Transcat (NASDAQ:TRNS) last posted its quarterly earnings results on Monday, October 28th. The scientific and technical instruments company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.12). The business had revenue of $67.83 million during the quarter, compared to analysts’ expectations of $70.30 million. Transcat had a net margin of 6.63% and a return on equity of 7.36%. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.41 EPS. On average, sell-side analysts anticipate that Transcat, Inc. will post 1.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TRNS. Craig Hallum lowered 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. HC Wainwright reaffirmed a “buy” rating and issued a $156.00 target price on shares of Transcat in a report 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. Oppenheimer restated an “outperform” rating and issued a $130.00 price target (down previously from $155.00) on shares of Transcat in a research report on Wednesday, October 30th. Finally, StockNews.com cut Transcat from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $127.25.

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.