Kornitzer Capital Management Inc. KS Sells 6,000 Shares of Transcat, Inc. (NASDAQ:TRNS)

Kornitzer Capital Management Inc. KS trimmed its holdings in Transcat, Inc. (NASDAQ:TRNS) by 9.5% in the second quarter, HoldingsChannel reports. The fund owned 57,150 shares of the scientific and technical instruments company’s stock after selling 6,000 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Transcat were worth $6,840,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. First Horizon Advisors Inc. lifted its stake in Transcat by 26.4% in the second quarter. First Horizon Advisors Inc. now owns 599 shares of the scientific and technical instruments company’s stock worth $72,000 after purchasing an additional 125 shares during the last quarter. Fifth Third Bancorp boosted its stake 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 valued at $79,000 after purchasing an additional 321 shares during the period. Hamilton Wealth LLC purchased a new position in shares of Transcat in the first quarter worth $212,000. Virtu Financial LLC bought a new stake in Transcat in the 1st quarter worth $224,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Transcat by 13.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,347 shares of the scientific and technical instruments company’s stock worth $262,000 after purchasing an additional 284 shares during the period. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on TRNS. HC Wainwright reaffirmed a “buy” rating and set a $156.00 price target on shares of Transcat in a research report on Tuesday, July 30th. Oppenheimer upped their target price on Transcat from $125.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, May 22nd. Northland Capmk cut shares of Transcat from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 22nd. Craig Hallum reduced their price objective on shares of Transcat from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Finally, Northland Securities lowered shares of Transcat from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 22nd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $151.33.

Transcat Trading Down 0.3 %

Shares of Transcat stock opened at $122.80 on Friday. Transcat, Inc. has a 12 month low of $84.45 and a 12 month high of $147.12. The firm has a market capitalization of $1.12 billion, a P/E ratio of 77.23 and a beta of 0.67. The business has a fifty day simple moving average of $124.06 and a two-hundred day simple moving average of $118.27.

Transcat (NASDAQ:TRNS) last issued its quarterly earnings results on Monday, July 29th. The scientific and technical instruments company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.20. Transcat had a return on equity of 8.48% and a net margin of 5.69%. The firm had revenue of $66.70 million for the quarter, compared to analysts’ expectations of $69.35 million. During the same period in the previous year, the firm posted $0.38 EPS. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. Analysts predict that Transcat, Inc. will post 2.06 earnings per share for the current year.

Insider Transactions at Transcat

In other Transcat news, Director Charles P. Hadeed sold 1,358 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $130.00, for a total transaction of $176,540.00. Following the completion of the sale, the director now directly owns 21,320 shares in the company, valued at approximately $2,771,600. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.20% of the stock is owned by insiders.

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.