Wasatch Advisors LP Has $80.05 Million Holdings in Transcat, Inc. (NASDAQ:TRNS)

Wasatch Advisors LP cut its stake in shares of Transcat, Inc. (NASDAQ:TRNS) by 2.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 662,814 shares of the scientific and technical instruments company’s stock after selling 19,347 shares during the period. Wasatch Advisors LP owned approximately 0.07% of Transcat worth $80,048,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its stake in Transcat by 13.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,347 shares of the scientific and technical instruments company’s stock valued at $262,000 after acquiring an additional 284 shares during the period. Public Employees Retirement System of Ohio grew its stake in Transcat by 14.3% in the first quarter. Public Employees Retirement System of Ohio now owns 32,275 shares of the scientific and technical instruments company’s stock valued at $3,596,000 after acquiring an additional 4,048 shares during the period. Janus Henderson Group PLC grew its stake in Transcat by 208.3% in the first quarter. Janus Henderson Group PLC now owns 10,297 shares of the scientific and technical instruments company’s stock valued at $1,147,000 after acquiring an additional 6,957 shares during the period. Virtu Financial LLC acquired a new position in Transcat in the first quarter valued at about $224,000. Finally, Linden Thomas Advisory Services LLC grew its stake in Transcat by 10.1% in the second quarter. Linden Thomas Advisory Services LLC now owns 4,457 shares of the scientific and technical instruments company’s stock valued at $533,000 after acquiring an additional 408 shares during the period. 98.34% of the stock is owned by institutional investors and hedge funds.

Transcat Price Performance

Shares of NASDAQ:TRNS opened at $104.89 on Friday. The company has a market capitalization of $964.88 million, a P/E ratio of 52.97 and a beta of 0.69. Transcat, Inc. has a 1 year low of $94.29 and a 1 year high of $147.12. The business’s 50 day simple moving average is $114.89 and its 200 day simple moving average is $121.21.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.12). The company 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 company’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.41 EPS. On average, sell-side analysts anticipate that Transcat, Inc. will post 1.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TRNS has been the subject of a number of research analyst reports. Oppenheimer reissued an “outperform” rating and issued a $130.00 target price (down from $155.00) on shares of Transcat in a research note on Wednesday, October 30th. Craig Hallum cut their price target on Transcat from $138.00 to $113.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Northland Securities cut their price target on Transcat from $130.00 to $110.00 and set a “market perform” rating on the stock in a report on Wednesday, October 30th. HC Wainwright restated a “buy” rating and issued a $156.00 price target on shares of Transcat in a report on Tuesday, October 29th. Finally, StockNews.com lowered Transcat from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently 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.