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

Millrace Asset Group Inc. acquired a new stake in shares of Transcat, Inc. (NASDAQ:TRNS) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,421 shares of the scientific and technical instruments company’s stock, valued at approximately $655,000.

A number of other large investors have also bought and sold shares of the company. Conestoga Capital Advisors LLC raised its stake in Transcat by 17.9% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 907,191 shares of the scientific and technical instruments company’s stock valued at $109,561,000 after acquiring an additional 137,830 shares during the period. Champlain Investment Partners LLC increased its stake in shares of Transcat by 22.1% in the third quarter. Champlain Investment Partners LLC now owns 409,500 shares of the scientific and technical instruments company’s stock worth $49,455,000 after purchasing an additional 74,169 shares in the last quarter. Royce & Associates LP raised its position in shares of Transcat by 8.2% in the third quarter. Royce & Associates LP now owns 511,701 shares of the scientific and technical instruments company’s stock valued at $61,798,000 after purchasing an additional 38,774 shares during the period. Hood River Capital Management LLC lifted its stake in shares of Transcat by 21.6% during the 2nd quarter. Hood River Capital Management LLC now owns 196,838 shares of the scientific and technical instruments company’s stock valued at $23,558,000 after buying an additional 34,947 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Transcat by 28.8% in the 3rd 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 buying an additional 17,743 shares during the period. 98.34% of the stock is owned by hedge funds and other institutional investors.

Transcat Trading Up 2.9 %

Shares of NASDAQ TRNS opened at $112.22 on Tuesday. The business has a 50-day moving average of $116.33 and a 200-day moving average of $121.51. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 56.68 and a beta of 0.69. Transcat, Inc. has a 12 month low of $94.29 and a 12 month high of $147.12.

Transcat (NASDAQ:TRNS) last issued its quarterly earnings results on Monday, October 28th. The scientific and technical instruments company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.12). Transcat had a return on equity of 7.36% and a net margin of 6.63%. The company had revenue of $67.83 million during the quarter, compared to the consensus estimate of $70.30 million. During the same period in the previous year, the company earned $0.41 EPS. Transcat’s quarterly revenue was up 8.0% on a year-over-year basis. On average, analysts predict that Transcat, Inc. will post 1.76 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Craig Hallum dropped their target price on Transcat from $138.00 to $113.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. StockNews.com downgraded Transcat from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. HC Wainwright reissued a “buy” rating and issued a $156.00 price target on shares of Transcat in a report on Tuesday, October 29th. Oppenheimer reaffirmed an “outperform” rating and set a $130.00 price objective (down previously from $155.00) on shares of Transcat in a research note on Wednesday, October 30th. Finally, Northland Securities decreased their target price 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. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company 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.