Royce & Associates LP Purchases 38,774 Shares of Transcat, Inc. (NASDAQ:TRNS)

Royce & Associates LP raised its position in shares of Transcat, Inc. (NASDAQ:TRNS) by 8.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 511,701 shares of the scientific and technical instruments company’s stock after buying an additional 38,774 shares during the quarter. Transcat comprises 0.6% of Royce & Associates LP’s portfolio, making the stock its 26th biggest holding. Royce & Associates LP owned approximately 0.06% of Transcat worth $61,798,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of TRNS. Swiss National Bank grew its stake in shares of Transcat by 1.2% in the 1st quarter. Swiss National Bank now owns 17,415 shares of the scientific and technical instruments company’s stock worth $1,941,000 after buying an additional 200 shares in the last quarter. Russell Investments Group Ltd. grew its position in Transcat by 8.6% in the first quarter. Russell Investments Group Ltd. now owns 26,713 shares of the scientific and technical instruments company’s stock worth $2,977,000 after acquiring an additional 2,121 shares in the last quarter. Cynosure Group LLC bought a new stake in Transcat during the first quarter worth approximately $322,000. Quadrature Capital Ltd purchased a new stake in Transcat during the first quarter valued at approximately $619,000. Finally, Hood River Capital Management LLC lifted its stake in shares of Transcat by 7.2% in the 1st quarter. Hood River Capital Management LLC now owns 161,891 shares of the scientific and technical instruments company’s stock valued at $18,040,000 after purchasing an additional 10,803 shares during the last quarter. 98.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Craig Hallum cut their target price on Transcat from $138.00 to $113.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Oppenheimer reiterated an “outperform” rating and set a $130.00 price objective (down previously from $155.00) on shares of Transcat in a research report on Wednesday, October 30th. HC Wainwright restated a “buy” rating and issued a $156.00 target price on shares of Transcat in a report on Tuesday, October 29th. Northland Securities cut their price target on shares of Transcat from $130.00 to $110.00 and set a “market perform” rating on the stock in a report on Wednesday, October 30th. Finally, StockNews.com downgraded shares of Transcat from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $127.25.

Transcat Trading Up 0.3 %

NASDAQ TRNS opened at $108.03 on Friday. The stock has a market cap of $993.88 million, a PE ratio of 54.56 and a beta of 0.69. Transcat, Inc. has a 12 month low of $89.39 and a 12 month high of $147.12. The company’s 50-day moving average price is $118.56 and its 200-day moving average price is $121.68.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.12). Transcat had a net margin of 6.63% and a return on equity of 7.36%. The firm had revenue of $67.83 million during the quarter, compared to analysts’ expectations of $70.30 million. During the same quarter in the previous year, the firm posted $0.41 EPS. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. As a group, sell-side analysts forecast that Transcat, Inc. will post 1.76 earnings per share for the current year.

About Transcat

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.