Conestoga Capital Advisors LLC Increases Stock Position in Transcat, Inc. (NASDAQ:TRNS)

Conestoga Capital Advisors LLC increased its position in Transcat, Inc. (NASDAQ:TRNS) by 17.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 907,191 shares of the scientific and technical instruments company’s stock after buying an additional 137,830 shares during the quarter. Transcat comprises about 1.5% of Conestoga Capital Advisors LLC’s investment portfolio, making the stock its 25th biggest position. Conestoga Capital Advisors LLC owned 0.10% of Transcat worth $109,561,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TRNS. Hood River Capital Management LLC increased its position in shares of Transcat by 21.6% in the second quarter. Hood River Capital Management LLC now owns 196,838 shares of the scientific and technical instruments company’s stock worth $23,558,000 after acquiring an additional 34,947 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Transcat by 28.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 79,303 shares of the scientific and technical instruments company’s stock worth $9,577,000 after acquiring an additional 17,743 shares in the last quarter. Silvercrest Asset Management Group LLC grew its stake in Transcat by 4.6% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 58,381 shares of the scientific and technical instruments company’s stock valued at $6,505,000 after purchasing an additional 2,542 shares in the last quarter. Essex Investment Management Co. LLC raised its position in shares of Transcat by 0.4% in the 3rd quarter. Essex Investment Management Co. LLC now owns 43,444 shares of the scientific and technical instruments company’s stock valued at $5,247,000 after purchasing an additional 171 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Transcat by 23.5% in the second quarter. Bank of New York Mellon Corp now owns 33,181 shares of the scientific and technical instruments company’s stock valued at $3,971,000 after buying an additional 6,315 shares during the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TRNS. HC Wainwright reiterated a “buy” rating and set a $156.00 target price on shares of Transcat in a research note on Tuesday. Oppenheimer reaffirmed an “outperform” rating and issued a $130.00 price target (down from $155.00) on shares of Transcat in a research note on Wednesday. Northland Securities lowered their target price on Transcat from $130.00 to $110.00 and set a “market perform” rating on the stock in a report on Wednesday. StockNews.com lowered shares of Transcat from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Craig Hallum decreased their price target on shares of Transcat from $138.00 to $113.00 and set a “buy” rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $127.25.

Transcat Trading Down 0.5 %

TRNS stock traded down $0.46 during midday trading on Friday, reaching $95.11. The company had a trading volume of 11,745 shares, compared to its average volume of 52,581. The company has a 50 day moving average of $122.34 and a two-hundred day moving average of $121.99. The company has a market capitalization of $870.26 million, a P/E ratio of 48.27 and a beta of 0.67. Transcat, Inc. has a 1 year low of $84.45 and a 1 year high of $147.12.

Transcat (NASDAQ:TRNS) last announced its quarterly earnings data on Monday, October 28th. The scientific and technical instruments company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.12). Transcat had a return on equity of 7.62% and a net margin of 6.63%. The firm had revenue of $67.83 million for the quarter, compared to analysts’ expectations of $70.30 million. During the same quarter in the prior year, the business posted $0.41 earnings per share. Transcat’s revenue was up 8.0% on a year-over-year basis. On average, sell-side analysts anticipate that Transcat, Inc. will post 2.06 earnings per share for the current year.

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.