Arizona State Retirement System Buys 129 Shares of Transcat, Inc. (NASDAQ:TRNS)

Arizona State Retirement System grew its stake in shares of Transcat, Inc. (NASDAQ:TRNS) by 5.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,555 shares of the scientific and technical instruments company’s stock after buying an additional 129 shares during the period. Arizona State Retirement System’s holdings in Transcat were worth $306,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TRNS. Rhumbline Advisers increased its position in shares of Transcat by 12.1% in the second quarter. Rhumbline Advisers now owns 11,420 shares of the scientific and technical instruments company’s stock worth $1,367,000 after purchasing an additional 1,231 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Transcat by 11.9% in the second quarter. Principal Financial Group Inc. now owns 4,238 shares of the scientific and technical instruments company’s stock worth $507,000 after purchasing an additional 450 shares during the last quarter. Arkadios Wealth Advisors increased its position in shares of Transcat by 1.8% in the second quarter. Arkadios Wealth Advisors now owns 4,411 shares of the scientific and technical instruments company’s stock worth $528,000 after purchasing an additional 76 shares during the last quarter. Conestoga Capital Advisors LLC increased its position in shares of Transcat by 0.3% in the second quarter. Conestoga Capital Advisors LLC now owns 769,361 shares of the scientific and technical instruments company’s stock worth $92,077,000 after purchasing an additional 2,155 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Transcat by 23.5% in the second quarter. Bank of New York Mellon Corp now owns 33,181 shares of the scientific and technical instruments company’s stock worth $3,971,000 after purchasing an additional 6,315 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TRNS has been the topic of a number of recent research reports. HC Wainwright reiterated a “buy” rating and set a $156.00 price target on shares of Transcat in a research report on Tuesday, July 30th. Craig Hallum reduced their price target on shares of Transcat from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Northland Securities cut shares of Transcat from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 22nd. Oppenheimer increased their price objective on Transcat from $125.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, May 22nd. Finally, Northland Capmk lowered Transcat from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 22nd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $151.33.

Transcat Price Performance

Shares of NASDAQ:TRNS opened at $126.81 on Wednesday. Transcat, Inc. has a 1-year low of $84.45 and a 1-year high of $147.12. The business has a fifty day moving average price of $124.08 and a 200-day moving average price of $119.26. The company has a market capitalization of $1.16 billion, a PE ratio of 79.75 and a beta of 0.67.

Transcat (NASDAQ:TRNS) last issued its quarterly earnings results on Monday, July 29th. The scientific and technical instruments company reported $0.48 earnings per share for the quarter, beating 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 firm had revenue of $66.70 million during the quarter, compared to the consensus estimate of $69.35 million. During the same period last year, the company earned $0.38 earnings per share. The company’s revenue was up 10.1% on a year-over-year basis. On average, sell-side analysts anticipate that Transcat, Inc. will post 2.06 earnings per share for the current fiscal 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.