Howe & Rusling Inc. Sells 1,000 Shares of Transcat, Inc. (NASDAQ:TRNS)

Howe & Rusling Inc. decreased its holdings in Transcat, Inc. (NASDAQ:TRNS) by 12.7% in the third quarter, Holdings Channel reports. The firm owned 6,854 shares of the scientific and technical instruments company’s stock after selling 1,000 shares during the quarter. Howe & Rusling Inc.’s holdings in Transcat were worth $828,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TRNS. Arkadios Wealth Advisors grew its position in Transcat by 1.8% in the 2nd quarter. Arkadios Wealth Advisors now owns 4,411 shares of the scientific and technical instruments company’s stock worth $528,000 after purchasing an additional 76 shares during the period. First Horizon Advisors Inc. increased its position in Transcat by 26.4% in the second quarter. First Horizon Advisors Inc. now owns 599 shares of the scientific and technical instruments company’s stock worth $72,000 after buying an additional 125 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Transcat by 5.3% in the second quarter. Arizona State Retirement System now owns 2,555 shares of the scientific and technical instruments company’s stock worth $306,000 after buying an additional 129 shares during the period. Oppenheimer Asset Management Inc. lifted its position in shares of Transcat by 1.6% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 10,562 shares of the scientific and technical instruments company’s stock valued at $1,264,000 after buying an additional 171 shares in the last quarter. Finally, Essex Investment Management Co. LLC increased its holdings 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 worth $5,247,000 after acquiring an additional 171 shares in the last quarter. 98.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Transcat Trading Down 1.4 %

Shares of Transcat stock opened at $102.83 on Thursday. The stock’s fifty day moving average price is $117.23 and its 200-day moving average price is $121.59. The firm has a market cap of $946.04 million, a P/E ratio of 51.93 and a beta of 0.69. Transcat, Inc. has a 12 month low of $93.74 and a 12 month high of $147.12.

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 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 return on equity of 7.36% and a net margin of 6.63%. Transcat’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.41 EPS. Analysts forecast that Transcat, Inc. will post 1.76 earnings per share for the current year.

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.