Royce & Associates LP Lowers Position in Transcat, Inc. $TRNS

Royce & Associates LP cut its position in shares of Transcat, Inc. (NASDAQ:TRNS) by 13.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 338,772 shares of the scientific and technical instruments company’s stock after selling 53,007 shares during the period. Royce & Associates LP’s holdings in Transcat were worth $24,798,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Transcat by 6.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,462 shares of the scientific and technical instruments company’s stock worth $407,000 after buying an additional 325 shares during the period. Jane Street Group LLC purchased a new stake in Transcat in the first quarter worth about $1,674,000. Envestnet Asset Management Inc. increased its stake in shares of Transcat by 151.7% during the second quarter. Envestnet Asset Management Inc. now owns 40,818 shares of the scientific and technical instruments company’s stock valued at $3,509,000 after purchasing an additional 24,602 shares in the last quarter. Arkadios Wealth Advisors lifted its holdings in shares of Transcat by 3.3% during the second quarter. Arkadios Wealth Advisors now owns 5,814 shares of the scientific and technical instruments company’s stock valued at $500,000 after purchasing an additional 187 shares during the last quarter. Finally, Atria Investments Inc bought a new stake in shares of Transcat in the 2nd quarter worth approximately $259,000. 98.34% of the stock is owned by hedge funds and other institutional investors.

Transcat Stock Up 1.9%

TRNS stock opened at $77.97 on Monday. The stock has a market capitalization of $727.62 million, a P/E ratio of 91.73 and a beta of 0.79. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.21 and a quick ratio of 1.85. Transcat, Inc. has a 1-year low of $50.23 and a 1-year high of $97.08. The business has a fifty day moving average price of $66.65 and a 200-day moving average price of $68.02.

Transcat (NASDAQ:TRNS) last released its quarterly earnings data on Tuesday, February 3rd. The scientific and technical instruments company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.04). Transcat had a net margin of 2.47% and a return on equity of 6.15%. The business had revenue of $83.86 million for the quarter, compared to analysts’ expectations of $80.99 million. Equities analysts forecast that Transcat, Inc. will post 2.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on TRNS shares. Zacks Research lowered Transcat from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 3rd. Weiss Ratings restated a “sell (d+)” rating on shares of Transcat in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $105.33.

Transcat Profile

Transcat, Inc (NASDAQ: TRNS) is a leading provider of calibration, laboratory, and metrology services in North America. Founded in 1964 and headquartered in Ronkonkoma, New York, the company specializes in ensuring the accuracy and compliance of measurement instruments across a wide range of industries. Transcat operates a network of ISO/IEC 17025–accredited laboratories and offers on-site field calibration, instrument repair, and preventive maintenance services.

In addition to its calibration services, Transcat distributes precision instrumentation and related software solutions from top manufacturers.