Transcat, Inc. $TRNS Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC reduced its stake in Transcat, Inc. (NASDAQ:TRNS) by 5.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 315,207 shares of the scientific and technical instruments company’s stock after selling 19,360 shares during the quarter. Fred Alger Management LLC owned approximately 3.38% of Transcat worth $23,073,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. White Pine Capital LLC boosted its position in shares of Transcat by 1.7% during the 2nd quarter. White Pine Capital LLC now owns 10,175 shares of the scientific and technical instruments company’s stock valued at $875,000 after acquiring an additional 171 shares during the last quarter. Police & Firemen s Retirement System of New Jersey increased its position in Transcat by 14.8% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 2,238 shares of the scientific and technical instruments company’s stock worth $192,000 after purchasing an additional 288 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Transcat by 6.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,462 shares of the scientific and technical instruments company’s stock worth $407,000 after purchasing an additional 325 shares during the period. Linden Thomas Advisory Services LLC raised its stake in Transcat by 4.4% during the third quarter. Linden Thomas Advisory Services LLC now owns 10,840 shares of the scientific and technical instruments company’s stock worth $793,000 after purchasing an additional 453 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in Transcat by 42.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,530 shares of the scientific and technical instruments company’s stock valued at $112,000 after purchasing an additional 458 shares during the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Transcat Stock Up 0.6%

Shares of NASDAQ:TRNS opened at $74.41 on Tuesday. The company has a market capitalization of $694.25 million, a price-to-earnings ratio of 87.54 and a beta of 0.71. Transcat, Inc. has a 12-month low of $50.23 and a 12-month high of $97.08. The business has a 50-day moving average price of $70.36 and a 200 day moving average price of $67.28. The company has a current ratio of 2.21, a quick ratio of 1.85 and a debt-to-equity ratio of 0.34.

Transcat (NASDAQ:TRNS) last posted its earnings results on Tuesday, February 3rd. The scientific and technical instruments company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.04). The company had revenue of $83.86 million during the quarter, compared to analyst estimates of $80.99 million. Transcat had a net margin of 2.47% and a return on equity of 6.15%. Sell-side analysts expect that Transcat, Inc. will post 2.3 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on TRNS shares. Zacks Research raised shares of Transcat from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Transcat in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Transcat has a consensus rating of “Moderate Buy” and an average price target of $105.33.

Transcat 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.