Moran Wealth Management LLC Raises Stake in Transcat, Inc. (NASDAQ:TRNS)

Moran Wealth Management LLC boosted its stake in shares of Transcat, Inc. (NASDAQ:TRNS) by 50.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,793 shares of the scientific and technical instruments company’s stock after buying an additional 1,269 shares during the quarter. Moran Wealth Management LLC’s holdings in Transcat were worth $458,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale bought a new position in Transcat in the second quarter worth approximately $40,000. nVerses Capital LLC bought a new position in shares of Transcat during the 3rd quarter worth $60,000. First Horizon Advisors Inc. increased its stake in shares of 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 lifted its stake in 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 acquiring an additional 321 shares during the period. Finally, Quest Partners LLC bought a new position in Transcat during the 2nd quarter worth about $109,000. 98.34% of the stock is currently owned by institutional investors.

Transcat Stock Up 2.1 %

Shares of NASDAQ TRNS opened at $109.02 on Friday. Transcat, Inc. has a 52 week low of $94.29 and a 52 week high of $147.12. The firm has a market cap of $1.00 billion, a P/E ratio of 55.06 and a beta of 0.69. The business’s 50 day moving average price is $116.61 and its 200 day moving average price is $121.46.

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 for the quarter, missing analysts’ consensus estimates 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 return on equity of 7.36% and a net margin of 6.63%. The firm’s revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.41 EPS. As a group, research analysts expect that Transcat, Inc. will post 1.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on TRNS shares. StockNews.com downgraded 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 from $155.00) on shares of Transcat in a research note on Wednesday, October 30th. Craig Hallum reduced their target price 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. Northland Securities dropped their target price on Transcat from $130.00 to $110.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 30th. Finally, HC Wainwright reiterated a “buy” rating and issued a $156.00 target price on shares of Transcat in a research note on Tuesday, October 29th. 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price 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.