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

Howe & Rusling Inc. decreased its position in Transcat, Inc. (NASDAQ:TRNS) by 12.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,854 shares of the scientific and technical instruments company’s stock after selling 1,000 shares during the quarter. Howe & Rusling Inc. owned 0.07% of Transcat worth $828,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of TRNS. DekaBank Deutsche Girozentrale bought a new stake in shares of Transcat in the 2nd quarter worth approximately $40,000. nVerses Capital LLC bought a new stake in Transcat in the third quarter worth $60,000. First Horizon Advisors Inc. boosted its position in 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 during the period. Fifth Third Bancorp grew its stake in shares of 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 last quarter. Finally, Quest Partners LLC purchased a new position in shares of Transcat in the second quarter worth about $109,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. 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 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. Craig Hallum lowered their price target on shares of Transcat from $138.00 to $113.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Oppenheimer reissued an “outperform” rating and issued a $130.00 price target (down previously from $155.00) on shares of Transcat in a report on Wednesday, October 30th. Finally, StockNews.com cut Transcat from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $127.25.

Transcat Price Performance

Shares of NASDAQ TRNS opened at $102.83 on Thursday. Transcat, Inc. has a 1 year low of $93.74 and a 1 year high of $147.12. The company’s 50-day moving average is $117.23 and its 200 day moving average is $121.59. The stock has a market capitalization of $946.04 million, a P/E ratio of 51.93 and a beta of 0.69.

Transcat (NASDAQ:TRNS) last released 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 firm had revenue of $67.83 million for the quarter, compared to the consensus estimate of $70.30 million. Transcat had a net margin of 6.63% and a return on equity of 7.36%. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.41 earnings per share. Research analysts anticipate that Transcat, Inc. will post 1.76 earnings per share for the current year.

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.