Transcat, Inc. (NASDAQ:TRNS) Stock Position Raised by Ellsworth Advisors LLC

Ellsworth Advisors LLC raised its position in shares of Transcat, Inc. (NASDAQ:TRNS) by 5.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,828 shares of the scientific and technical instruments company’s stock after purchasing an additional 247 shares during the period. Ellsworth Advisors LLC owned 0.05% of Transcat worth $578,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Rice Hall James & Associates LLC raised its stake in shares of Transcat by 0.4% during the 1st quarter. Rice Hall James & Associates LLC now owns 27,472 shares of the scientific and technical instruments company’s stock worth $3,061,000 after purchasing an additional 96 shares in the last quarter. Swiss National Bank raised its stake in shares of Transcat by 1.2% during the 1st quarter. Swiss National Bank now owns 17,415 shares of the scientific and technical instruments company’s stock worth $1,941,000 after purchasing an additional 200 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Transcat by 11.9% in the 4th quarter. Arizona State Retirement System now owns 2,434 shares of the scientific and technical instruments company’s stock valued at $266,000 after acquiring an additional 258 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Transcat by 13.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,347 shares of the scientific and technical instruments company’s stock valued at $262,000 after acquiring an additional 284 shares in the last quarter. Finally, Raymond James & Associates raised its stake in shares of Transcat by 6.5% in the 4th quarter. Raymond James & Associates now owns 6,384 shares of the scientific and technical instruments company’s stock valued at $698,000 after acquiring an additional 387 shares in the last quarter. 98.34% of the stock is owned by hedge funds and other institutional investors.

Transcat Stock Performance

Shares of NASDAQ:TRNS traded down $1.77 during trading on Friday, hitting $119.20. 58,742 shares of the stock were exchanged, compared to its average volume of 83,070. Transcat, Inc. has a 1-year low of $84.45 and a 1-year high of $147.12. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 74.97 and a beta of 0.68. The company’s fifty day simple moving average is $123.61 and its 200-day simple moving average is $116.97.

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

Insider Transactions at Transcat

In other news, Director Charles P. Hadeed sold 1,358 shares of Transcat stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $130.00, for a total transaction of $176,540.00. Following the sale, the director now owns 21,320 shares of the company’s stock, valued at approximately $2,771,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Charles P. Hadeed sold 1,358 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $130.00, for a total value of $176,540.00. Following the sale, the director now owns 21,320 shares of the company’s stock, valued at approximately $2,771,600. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Lee D. Rudow sold 3,343 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $124.12, for a total value of $414,933.16. Following the completion of the sale, the chief executive officer now directly owns 103,692 shares in the company, valued at approximately $12,870,251.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,215 shares of company stock valued at $2,969,084. 4.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TRNS. Northland Securities downgraded Transcat from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 22nd. Craig Hallum cut their price objective on Transcat from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Oppenheimer raised 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. HC Wainwright reaffirmed a “buy” rating and issued a $156.00 target price on shares of Transcat in a report on Tuesday, July 30th. Finally, Northland Capmk lowered Transcat from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 22nd. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.