Needham Investment Management LLC Buys 30,870 Shares of Transcat, Inc. $TRNS

Needham Investment Management LLC boosted its position in Transcat, Inc. (NASDAQ:TRNS) by 33.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 124,370 shares of the scientific and technical instruments company’s stock after purchasing an additional 30,870 shares during the period. Needham Investment Management LLC owned about 1.33% of Transcat worth $7,056,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TRNS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Transcat by 6.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,462 shares of the scientific and technical instruments company’s stock valued at $407,000 after acquiring an additional 325 shares during the last quarter. Jane Street Group LLC purchased a new position in Transcat in the first quarter valued at about $1,674,000. JPMorgan Chase & Co. boosted its stake in Transcat by 88.3% in the second quarter. JPMorgan Chase & Co. now owns 8,555 shares of the scientific and technical instruments company’s stock valued at $735,000 after acquiring an additional 4,012 shares during the last quarter. Legal & General Group Plc boosted its stake in Transcat by 6.1% in the second quarter. Legal & General Group Plc now owns 9,551 shares of the scientific and technical instruments company’s stock valued at $821,000 after acquiring an additional 548 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in Transcat by 23.3% in the second quarter. Rhumbline Advisers now owns 16,171 shares of the scientific and technical instruments company’s stock valued at $1,390,000 after acquiring an additional 3,061 shares during the last quarter. 98.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on TRNS. Zacks Research upgraded shares of Transcat from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Weiss Ratings upgraded shares of Transcat from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $105.33.

Transcat Stock Performance

Transcat stock opened at $91.60 on Tuesday. The firm’s 50 day simple moving average is $80.04 and its 200 day simple moving average is $71.24. The company has a current ratio of 2.33, a quick ratio of 1.99 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $855.54 million, a PE ratio of 157.93 and a beta of 0.71. Transcat, Inc. has a 1-year low of $50.23 and a 1-year high of $94.76.

Transcat (NASDAQ:TRNS) last issued its quarterly earnings results on Tuesday, May 26th. The scientific and technical instruments company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. The firm had revenue of $89.33 million for the quarter, compared to analyst estimates of $89.79 million. Transcat had a net margin of 1.62% and a return on equity of 5.84%. As a group, analysts expect that Transcat, Inc. will post 1.71 earnings per share for the current fiscal year.

Transcat Company Profile

Transcat, Inc (NASDAQ: TRNS) is a leading provider of calibration, laboratory, and metrology services in North America. Founded in 1964 and headquartered in Ronkonkoma, New York, the company specializes in ensuring the accuracy and compliance of measurement instruments across a wide range of industries. Transcat operates a network of ISO/IEC 17025–accredited laboratories and offers on-site field calibration, instrument repair, and preventive maintenance services.

In addition to its calibration services, Transcat distributes precision instrumentation and related software solutions from top manufacturers.