Essex Investment Management Co. LLC Has $4.05 Million Stock Position in Transcat, Inc. (NASDAQ:TRNS)

Essex Investment Management Co. LLC reduced its holdings in Transcat, Inc. (NASDAQ:TRNS) by 11.9% in the 4th quarter, HoldingsChannel reports. The fund owned 38,289 shares of the scientific and technical instruments company’s stock after selling 5,155 shares during the period. Essex Investment Management Co. LLC’s holdings in Transcat were worth $4,049,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp increased its position in Transcat by 686.7% in the 4th quarter. Jones Financial Companies Lllp now owns 354 shares of the scientific and technical instruments company’s stock valued at $37,000 after acquiring an additional 309 shares during the period. Morgan Dempsey Capital Management LLC acquired a new position in Transcat in the 4th quarter valued at approximately $143,000. US Bancorp DE increased its position in Transcat by 15.6% in the 3rd quarter. US Bancorp DE now owns 1,547 shares of the scientific and technical instruments company’s stock valued at $187,000 after acquiring an additional 209 shares during the period. Captrust Financial Advisors acquired a new position in Transcat in the 3rd quarter valued at approximately $201,000. Finally, SG Americas Securities LLC acquired a new position in Transcat in the 4th quarter valued at approximately $182,000. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Craig D. Cairns bought 1,200 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were acquired at an average cost of $77.02 per share, with a total value of $92,424.00. Following the completion of the purchase, the director now directly owns 1,910 shares in the company, valued at $147,108.20. The trade was a 169.01 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on TRNS shares. HC Wainwright reduced their price objective on shares of Transcat from $126.00 to $106.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Northland Securities reaffirmed a “market perform” rating and issued a $85.00 price objective (down from $110.00) on shares of Transcat in a research note on Wednesday, January 29th. Craig Hallum upped their price objective on shares of Transcat from $113.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. StockNews.com lowered shares of Transcat from a “hold” rating to a “sell” rating in a research note on Wednesday, February 5th. Finally, Oppenheimer lowered shares of Transcat from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $111.50.

Transcat Stock Up 0.8 %

Shares of NASDAQ TRNS opened at $74.84 on Friday. The firm has a market cap of $696.69 million, a PE ratio of 40.45 and a beta of 0.66. Transcat, Inc. has a 12-month low of $71.64 and a 12-month high of $147.12. The company’s fifty day simple moving average is $89.80 and its 200 day simple moving average is $106.24. The company has a quick ratio of 1.98, a current ratio of 2.42 and a debt-to-equity ratio of 0.14.

Transcat (NASDAQ:TRNS) last issued its earnings results on Monday, January 27th. The scientific and technical instruments company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.07. Transcat had a net margin of 6.22% and a return on equity of 7.23%. During the same quarter last year, the firm earned $0.56 EPS. As a group, sell-side analysts forecast that Transcat, Inc. will post 2.3 earnings per share for the current fiscal 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.