Hardy Reed LLC Acquires New Holdings in Transcat, Inc. (NASDAQ:TRNS)

Hardy Reed LLC acquired a new position in Transcat, Inc. (NASDAQ:TRNS) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,815 shares of the scientific and technical instruments company’s stock, valued at approximately $219,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Conestoga Capital Advisors LLC lifted its stake in shares of Transcat by 17.9% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 907,191 shares of the scientific and technical instruments company’s stock worth $109,561,000 after acquiring an additional 137,830 shares during the period. Champlain Investment Partners LLC increased its stake in shares of Transcat by 22.1% during the third quarter. Champlain Investment Partners LLC now owns 409,500 shares of the scientific and technical instruments company’s stock valued at $49,455,000 after acquiring an additional 74,169 shares during the period. Royce & Associates LP raised its holdings in Transcat by 8.2% during the third quarter. Royce & Associates LP now owns 511,701 shares of the scientific and technical instruments company’s stock worth $61,798,000 after purchasing an additional 38,774 shares in the last quarter. Hood River Capital Management LLC lifted its position in Transcat by 21.6% in the second quarter. Hood River Capital Management LLC now owns 196,838 shares of the scientific and technical instruments company’s stock worth $23,558,000 after purchasing an additional 34,947 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Transcat by 28.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 79,303 shares of the scientific and technical instruments company’s stock valued at $9,577,000 after purchasing an additional 17,743 shares in the last quarter. Institutional investors own 98.34% of the company’s stock.

Analysts Set New Price Targets

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

Transcat Stock Performance

NASDAQ TRNS opened at $105.62 on Wednesday. The firm’s 50 day moving average price is $116.33 and its two-hundred day moving average price is $121.51. Transcat, Inc. has a twelve month low of $94.29 and a twelve month high of $147.12. The stock has a market cap of $971.70 million, a price-to-earnings ratio of 53.34 and a beta of 0.69.

Transcat (NASDAQ:TRNS) last issued its quarterly 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 business had revenue of $67.83 million for the quarter, compared to analysts’ expectations of $70.30 million. Transcat had a net margin of 6.63% and a return on equity of 7.36%. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.41 EPS. On average, research analysts forecast that Transcat, Inc. will post 1.76 EPS for the current fiscal year.

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.