Needham Investment Management LLC Raises Stock Holdings in Transcat, Inc. (NASDAQ:TRNS)

Needham Investment Management LLC boosted its holdings in shares of Transcat, Inc. (NASDAQ:TRNS) by 43.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 39,500 shares of the scientific and technical instruments company’s stock after purchasing an additional 12,000 shares during the quarter. Needham Investment Management LLC’s holdings in Transcat were worth $4,770,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Oppenheimer restated 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. Northland Securities decreased 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. Craig Hallum lowered their target price on shares of Transcat from $138.00 to $113.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. HC Wainwright reaffirmed a “buy” rating and issued a $156.00 price target on shares of Transcat in a report on Tuesday, October 29th. Finally, StockNews.com lowered shares of Transcat from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. One equities research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $127.25.

Transcat Stock Up 0.1 %

NASDAQ TRNS traded up $0.09 on Tuesday, hitting $104.69. The stock had a trading volume of 4,133 shares, compared to its average volume of 55,046. The company’s 50-day moving average is $114.42 and its two-hundred day moving average is $121.13. The stock has a market cap of $963.15 million, a price-to-earnings ratio of 52.83 and a beta of 0.70. Transcat, Inc. has a one year low of $94.29 and a one year high of $147.12.

Transcat (NASDAQ:TRNS) last released its earnings results 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). The company had revenue of $67.83 million for the quarter, compared to analyst estimates of $70.30 million. Transcat had a net margin of 6.63% and a return on equity of 7.36%. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.41 EPS. On average, sell-side analysts anticipate that Transcat, Inc. will post 1.76 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.