5,421 Shares in Transcat, Inc. (NASDAQ:TRNS) Acquired by Millrace Asset Group Inc.

Millrace Asset Group Inc. bought a new stake in Transcat, Inc. (NASDAQ:TRNS) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,421 shares of the scientific and technical instruments company’s stock, valued at approximately $655,000. Millrace Asset Group Inc. owned approximately 0.06% of Transcat at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. DekaBank Deutsche Girozentrale bought a new position in shares of Transcat in the 2nd quarter valued at $40,000. nVerses Capital LLC bought a new position in Transcat in the third quarter valued at about $60,000. First Horizon Advisors Inc. boosted 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 purchasing an additional 125 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of Transcat by 95.8% during the second quarter. Fifth Third Bancorp now owns 656 shares of the scientific and technical instruments company’s stock worth $79,000 after purchasing an additional 321 shares during the last quarter. Finally, Quest Partners LLC bought a new stake in shares of Transcat during the second quarter worth about $109,000. Institutional investors own 98.34% of the company’s stock.

Transcat Stock Performance

Shares of Transcat stock opened at $112.22 on Tuesday. Transcat, Inc. has a 52 week low of $94.29 and a 52 week high of $147.12. The stock has a 50 day moving average price of $116.33 and a two-hundred day moving average price of $121.51. The stock has a market capitalization of $1.03 billion, a PE ratio of 56.68 and a beta of 0.69.

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). Transcat had a net margin of 6.63% and a return on equity of 7.36%. The business had revenue of $67.83 million during the quarter, compared to the consensus estimate of $70.30 million. During the same period last year, the business posted $0.41 earnings per share. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. Research analysts forecast that Transcat, Inc. will post 1.76 EPS for the current year.

Wall Street Analyst Weigh In

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

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.