Transcat, Inc. (NASDAQ:TRNS) Position Increased by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC raised its stake in Transcat, Inc. (NASDAQ:TRNS) by 0.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 43,444 shares of the scientific and technical instruments company’s stock after acquiring an additional 171 shares during the period. Transcat accounts for approximately 0.9% of Essex Investment Management Co. LLC’s holdings, making the stock its 28th biggest position. Essex Investment Management Co. LLC’s holdings in Transcat were worth $5,247,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. DekaBank Deutsche Girozentrale acquired a new position in shares of Transcat in the 2nd quarter worth $40,000. First Horizon Advisors Inc. grew its holdings in shares of Transcat by 26.4% during the second quarter. First Horizon Advisors Inc. now owns 599 shares of the scientific and technical instruments company’s stock valued at $72,000 after buying an additional 125 shares in the last quarter. Fifth Third Bancorp raised its position in Transcat by 95.8% during the second quarter. Fifth Third Bancorp now owns 656 shares of the scientific and technical instruments company’s stock valued at $79,000 after buying an additional 321 shares during the period. Quest Partners LLC acquired a new position in Transcat during the second quarter valued at $109,000. Finally, Hamilton Wealth LLC purchased a new stake in Transcat in the 1st quarter worth about $212,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

Transcat Stock Performance

Shares of NASDAQ TRNS traded up $5.15 during trading hours on Friday, hitting $126.51. The stock had a trading volume of 28,313 shares, compared to its average volume of 72,526. The firm’s 50-day moving average price is $121.44 and its two-hundred day moving average price is $121.01. Transcat, Inc. has a 52 week low of $84.45 and a 52 week high of $147.12. The company has a market capitalization of $1.16 billion, a P/E ratio of 74.86 and a beta of 0.67.

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

Analysts Set New Price Targets

TRNS has been the subject of a number of research analyst reports. Craig Hallum reduced their price target on shares of Transcat from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. HC Wainwright reiterated a “buy” rating and issued a $156.00 target price on shares of Transcat in a research report on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $151.33.

Transcat 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.