Rice Hall James & Associates LLC Sells 8,976 Shares of Transcat, Inc. $TRNS

Rice Hall James & Associates LLC lessened its holdings in shares of Transcat, Inc. (NASDAQ:TRNS) by 27.4% during the 3rd quarter, Holdings Channel reports. The firm owned 23,800 shares of the scientific and technical instruments company’s stock after selling 8,976 shares during the period. Rice Hall James & Associates LLC’s holdings in Transcat were worth $1,742,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of TRNS. Lazard Asset Management LLC purchased a new position in shares of Transcat during the second quarter valued at about $54,000. Quantbot Technologies LP bought a new position in Transcat during the first quarter valued at approximately $76,000. Parkside Financial Bank & Trust purchased a new position in Transcat during the 2nd quarter valued at approximately $79,000. PNC Financial Services Group Inc. increased its stake in Transcat by 1,118.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,072 shares of the scientific and technical instruments company’s stock worth $92,000 after acquiring an additional 984 shares during the last quarter. Finally, State of Wyoming bought a new stake in Transcat in the 1st quarter worth approximately $95,000. 98.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TRNS shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Transcat in a research report on Monday, December 22nd. Northland Securities set a $95.00 price objective on shares of Transcat in a research report on Thursday, October 23rd. Northland Capmk raised shares of Transcat from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 23rd. Finally, Zacks Research upgraded shares of Transcat from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 7th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $105.33.

Transcat Trading Up 1.2%

TRNS stock opened at $58.87 on Friday. The firm’s 50-day moving average is $60.23 and its 200 day moving average is $72.73. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.43 and a quick ratio of 2.06. Transcat, Inc. has a 12 month low of $50.23 and a 12 month high of $111.29. The company has a market capitalization of $549.26 million, a PE ratio of 48.25 and a beta of 0.79.

Transcat (NASDAQ:TRNS) last announced its quarterly earnings results on Monday, November 3rd. The scientific and technical instruments company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.02). Transcat had a net margin of 3.75% and a return on equity of 6.81%. The firm had revenue of $82.27 million during the quarter, compared to analysts’ expectations of $79.51 million. On average, research analysts anticipate that Transcat, Inc. will post 2.3 EPS for the current 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.