Transcat, Inc. (NASDAQ:TRNS) Position Trimmed by Riverbridge Partners LLC

Riverbridge Partners LLC lowered its stake in Transcat, Inc. (NASDAQ:TRNS) by 10.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 245,041 shares of the scientific and technical instruments company’s stock after selling 29,824 shares during the period. Riverbridge Partners LLC’s holdings in Transcat were worth $25,911,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of TRNS. Essex Investment Management Co. LLC raised its position in shares of Transcat by 0.4% during 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 period. US Bancorp DE raised its holdings in shares of Transcat by 15.6% during the third 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. Ellsworth Advisors LLC lifted its position in shares of Transcat by 4.4% in the 3rd quarter. Ellsworth Advisors LLC now owns 5,041 shares of the scientific and technical instruments company’s stock valued at $609,000 after acquiring an additional 213 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Transcat by 8.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,312 shares of the scientific and technical instruments company’s stock worth $396,000 after purchasing an additional 263 shares during the period. Finally, Principal Financial Group Inc. grew its position in Transcat by 8.8% during the 3rd quarter. Principal Financial Group Inc. now owns 4,611 shares of the scientific and technical instruments company’s stock worth $557,000 after purchasing an additional 373 shares in the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on TRNS shares. 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. StockNews.com cut Transcat from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Craig Hallum increased their price target on shares of Transcat from $113.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Northland Securities lowered their price objective on shares of Transcat from $130.00 to $110.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 30th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $130.00 target price (down previously from $155.00) on shares of Transcat 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 issued a buy rating to the company’s stock. According to MarketBeat.com, Transcat presently has a consensus rating of “Hold” and a consensus price target of $130.25.

Transcat Stock Performance

Shares of TRNS opened at $103.65 on Thursday. The firm has a market cap of $953.58 million, a PE ratio of 52.35 and a beta of 0.71. Transcat, Inc. has a twelve month low of $94.29 and a twelve month high of $147.12. The firm’s 50 day moving average price is $105.60 and its 200 day moving average price is $115.89.

Transcat (NASDAQ:TRNS) last released its quarterly earnings data on Monday, October 28th. The scientific and technical instruments company reported $0.35 earnings per share (EPS) 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 analyst estimates of $70.30 million. Transcat had a net margin of 6.63% and a return on equity of 7.36%. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 EPS. On average, sell-side analysts anticipate that Transcat, Inc. will post 2.44 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.