Diamond Hill Capital Management Inc. Sells 500 Shares of Transcat, Inc. (NASDAQ:TRNS)

Diamond Hill Capital Management Inc. lowered its stake in Transcat, Inc. (NASDAQ:TRNS) by 8.3% in the second quarter, Holdings Channel reports. The fund owned 5,500 shares of the scientific and technical instruments company’s stock after selling 500 shares during the quarter. Diamond Hill Capital Management Inc.’s holdings in Transcat were worth $658,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Arkadios Wealth Advisors lifted its holdings in shares of Transcat by 1.8% in the second quarter. Arkadios Wealth Advisors now owns 4,411 shares of the scientific and technical instruments company’s stock worth $528,000 after acquiring an additional 76 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of 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 acquiring an additional 125 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Transcat by 5.3% in the second quarter. Arizona State Retirement System now owns 2,555 shares of the scientific and technical instruments company’s stock worth $306,000 after acquiring an additional 129 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of Transcat by 1.6% in the second quarter. Oppenheimer Asset Management Inc. now owns 10,562 shares of the scientific and technical instruments company’s stock worth $1,264,000 after acquiring an additional 171 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Transcat by 1.2% in the first quarter. Swiss National Bank now owns 17,415 shares of the scientific and technical instruments company’s stock worth $1,941,000 after acquiring an additional 200 shares during the last quarter. Institutional investors own 98.34% of the company’s stock.

Transcat Stock Performance

Transcat stock opened at $123.24 on Monday. Transcat, Inc. has a 52-week low of $84.45 and a 52-week high of $147.12. The firm has a 50 day moving average price of $123.97 and a two-hundred day moving average price of $119.11. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of 77.51 and a beta of 0.67.

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

Analysts Set New Price Targets

TRNS has been the subject of a number of research reports. Northland Securities cut shares of Transcat from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 22nd. Craig Hallum dropped their price objective on shares of Transcat from $150.00 to $138.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Oppenheimer raised their price objective on shares of Transcat from $125.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, May 22nd. Northland Capmk lowered shares of Transcat from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 22nd. Finally, HC Wainwright reiterated a “buy” rating and issued a $156.00 price objective on shares of Transcat in a report on Tuesday, July 30th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $151.33.

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.