Hardy Reed LLC Purchases New Position in Transcat, Inc. (NASDAQ:TRNS)

Hardy Reed LLC acquired a new stake in shares of Transcat, Inc. (NASDAQ:TRNS) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 1,815 shares of the scientific and technical instruments company’s stock, valued at approximately $219,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale acquired a new position in shares of Transcat during the 2nd quarter worth $40,000. nVerses Capital LLC acquired a new position in Transcat during the third quarter worth $60,000. First Horizon Advisors Inc. raised its holdings 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 in the last quarter. Fifth Third Bancorp lifted its position in shares of Transcat by 95.8% in the second quarter. Fifth Third Bancorp now owns 656 shares of the scientific and technical instruments company’s stock worth $79,000 after buying an additional 321 shares during the last quarter. Finally, Quest Partners LLC acquired a new stake in shares of Transcat in the second quarter worth about $109,000. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Transcat Price Performance

Shares of Transcat stock opened at $105.62 on Wednesday. The company has a market cap of $971.70 million, a PE ratio of 53.34 and a beta of 0.69. The firm has a fifty day moving average price of $116.33 and a two-hundred day moving average price of $121.51. Transcat, Inc. has a fifty-two week low of $94.29 and a fifty-two week high of $147.12.

Transcat (NASDAQ:TRNS) last released its earnings results on Monday, October 28th. The scientific and technical instruments company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.12). The firm had revenue of $67.83 million for the quarter, compared to analyst estimates of $70.30 million. Transcat had a return on equity of 7.36% and a net margin of 6.63%. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period last year, the business earned $0.41 earnings per share. Analysts expect that Transcat, Inc. will post 1.76 earnings per share for the current fiscal 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.