Moran Wealth Management LLC Boosts Stake in Transcat, Inc. (NASDAQ:TRNS)

Moran Wealth Management LLC increased its stake in Transcat, Inc. (NASDAQ:TRNS) by 50.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,793 shares of the scientific and technical instruments company’s stock after purchasing an additional 1,269 shares during the quarter. Moran Wealth Management LLC’s holdings in Transcat were worth $458,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of TRNS. DekaBank Deutsche Girozentrale purchased a new position in shares of Transcat during the 2nd quarter valued at about $40,000. nVerses Capital LLC purchased a new position in Transcat during the third quarter valued at approximately $60,000. First Horizon Advisors Inc. boosted its position 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 purchasing an additional 125 shares during the period. Fifth Third Bancorp increased its stake in shares of Transcat by 95.8% in 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 in the last quarter. Finally, Quest Partners LLC bought a new stake in shares of Transcat during the 2nd quarter valued at $109,000. Institutional investors own 98.34% of the company’s stock.

Analyst Ratings Changes

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

Transcat Price Performance

Shares of TRNS stock opened at $109.02 on Friday. The company has a market cap of $1.00 billion, a PE ratio of 55.06 and a beta of 0.69. The stock’s 50 day simple moving average is $116.61 and its two-hundred day simple moving average is $121.46. Transcat, Inc. has a 1 year low of $94.29 and a 1 year high of $147.12.

Transcat (NASDAQ:TRNS) last posted its quarterly earnings data on Monday, October 28th. The scientific and technical instruments company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.12). Transcat had a return on equity of 7.36% 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 period in the previous year, the firm earned $0.41 earnings per share. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. Equities research analysts expect that Transcat, Inc. will post 1.76 EPS 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.