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 third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 511,701 shares of the scientific and technical instruments company’s stock after purchasing an additional 38,774 shares during the quarter. Transcat accounts for about 0.6% of Royce & Associates LP’s investment portfolio, making the stock its 26th biggest holding. Royce & Associates LP owned 5.59% of Transcat worth $61,798,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of TRNS. Conestoga Capital Advisors LLC grew its holdings in shares of 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 valued at $109,561,000 after buying an additional 137,830 shares during the last quarter. Hood River Capital Management LLC boosted its stake in Transcat by 21.6% during the 2nd quarter. Hood River Capital Management LLC now owns 196,838 shares of the scientific and technical instruments company’s stock valued at $23,558,000 after purchasing an additional 34,947 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Transcat by 28.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 79,303 shares of the scientific and technical instruments company’s stock valued at $9,577,000 after purchasing an additional 17,743 shares during the last quarter. Silvercrest Asset Management Group LLC increased its holdings in shares of Transcat by 4.6% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 58,381 shares of the scientific and technical instruments company’s stock worth $6,505,000 after purchasing an additional 2,542 shares in the last quarter. Finally, Essex Investment Management Co. LLC raised its stake in shares of Transcat by 0.4% in the third 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 purchasing an additional 171 shares during the last quarter. 98.34% of the stock is owned by hedge funds and other institutional investors.

Transcat Trading Up 0.3 %

Shares of TRNS stock opened at $108.03 on Friday. The company has a 50 day simple moving average of $118.56 and a two-hundred day simple moving average of $121.68. The stock has a market cap of $993.88 million, a P/E 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.

Transcat (NASDAQ:TRNS) last posted its quarterly earnings data 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). Transcat had a return on equity of 7.36% and a net margin of 6.63%. The company had revenue of $67.83 million during the quarter, compared to analysts’ expectations of $70.30 million. During the same quarter last year, the company earned $0.41 earnings per share. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. As a group, equities analysts forecast that Transcat, Inc. will post 1.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on TRNS. Northland Securities dropped their price objective on Transcat from $130.00 to $110.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 30th. StockNews.com lowered shares of Transcat from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Oppenheimer restated 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 reaffirmed a “buy” rating and issued a $156.00 target price on shares of Transcat in a research report on Tuesday, October 29th. Finally, Craig Hallum lowered their price target on Transcat from $138.00 to $113.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. One equities 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 company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $127.25.

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.