Transcat, Inc. (NASDAQ:TRNS) Shares Sold by Riverbridge Partners LLC

Riverbridge Partners LLC reduced its stake in shares of Transcat, Inc. (NASDAQ:TRNS) by 10.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 245,041 shares of the scientific and technical instruments company’s stock after selling 29,824 shares during the quarter. Riverbridge Partners LLC owned 2.66% of Transcat worth $25,911,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TRNS. Conestoga Capital Advisors LLC raised its stake in shares of Transcat by 17.9% during the third quarter. Conestoga Capital Advisors LLC now owns 907,191 shares of the scientific and technical instruments company’s stock valued at $109,561,000 after purchasing an additional 137,830 shares during the period. Royce & Associates LP grew its holdings in Transcat by 8.2% during the 3rd quarter. Royce & Associates LP now owns 511,701 shares of the scientific and technical instruments company’s stock valued at $61,798,000 after purchasing an additional 38,774 shares in the last quarter. Champlain Investment Partners LLC increased its stake in Transcat by 22.1% during the 3rd quarter. Champlain Investment Partners LLC now owns 409,500 shares of the scientific and technical instruments company’s stock worth $49,455,000 after buying an additional 74,169 shares during the period. Geode Capital Management LLC lifted its holdings in Transcat by 5.4% in the 3rd quarter. Geode Capital Management LLC now owns 217,473 shares of the scientific and technical instruments company’s stock worth $26,269,000 after buying an additional 11,106 shares in the last quarter. Finally, State Street Corp boosted its position in Transcat by 8.1% in the 3rd quarter. State Street Corp now owns 207,230 shares of the scientific and technical instruments company’s stock valued at $25,027,000 after buying an additional 15,514 shares during the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

Transcat Price Performance

Shares of NASDAQ TRNS opened at $103.65 on Thursday. The firm has a market capitalization of $953.58 million, a PE ratio of 52.35 and a beta of 0.71. Transcat, Inc. has a 1-year low of $94.29 and a 1-year high of $147.12. The business’s fifty day moving average price is $105.60 and its two-hundred day moving average price is $115.89.

Transcat (NASDAQ:TRNS) last issued its quarterly earnings data on Monday, October 28th. The scientific and technical instruments company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.12). Transcat had a net margin of 6.63% and a return on equity of 7.36%. The firm had revenue of $67.83 million during the quarter, compared to the consensus estimate of $70.30 million. During the same quarter in the prior year, the business earned $0.41 earnings per share. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. Equities research analysts expect that Transcat, Inc. will post 2.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and set a $156.00 target price on shares of Transcat in a research report on Tuesday, October 29th. StockNews.com cut shares of Transcat from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Oppenheimer reissued an “outperform” rating and set a $130.00 price objective (down from $155.00) on shares of Transcat in a report on Wednesday, October 30th. Northland Securities decreased their target price on Transcat from $130.00 to $110.00 and set a “market perform” rating for the company in a research report on Wednesday, October 30th. Finally, Craig Hallum boosted their price objective on shares of Transcat from $113.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Transcat has an average rating of “Hold” and a consensus target price of $130.25.

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.