Renaissance Technologies LLC Sells 10,700 Shares of Transcat, Inc. (NASDAQ:TRNS)

Renaissance Technologies LLC cut its stake in shares of Transcat, Inc. (NASDAQ:TRNS) by 36.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,300 shares of the scientific and technical instruments company’s stock after selling 10,700 shares during the quarter. Renaissance Technologies LLC owned approximately 0.20% of Transcat worth $2,190,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Conestoga Capital Advisors LLC lifted its stake in shares of Transcat by 0.3% during 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 buying an additional 2,155 shares during the period. Wasatch Advisors LP boosted its holdings in Transcat by 7.9% in the 1st quarter. Wasatch Advisors LP now owns 756,220 shares of the scientific and technical instruments company’s stock valued at $84,266,000 after purchasing an additional 55,121 shares during the last quarter. Hood River Capital Management LLC lifted its holdings in shares of Transcat by 7.2% in the 1st quarter. Hood River Capital Management LLC now owns 161,891 shares of the scientific and technical instruments company’s stock worth $18,040,000 after acquiring an additional 10,803 shares during the last quarter. Silvercrest Asset Management Group LLC lifted its holdings in shares of Transcat by 4.6% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 58,381 shares of the scientific and technical instruments company’s stock worth $6,505,000 after acquiring an additional 2,542 shares during the last quarter. Finally, Essex Investment Management Co. LLC lifted its holdings in Transcat by 1.5% during the 1st quarter. Essex Investment Management Co. LLC now owns 37,435 shares of the scientific and technical instruments company’s stock worth $4,171,000 after buying an additional 569 shares in the last quarter. 98.34% of the stock is owned by hedge funds and other institutional investors.

Transcat Price Performance

Shares of TRNS opened at $116.90 on Thursday. Transcat, Inc. has a fifty-two week low of $84.45 and a fifty-two week high of $147.12. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 73.52 and a beta of 0.67. The business’s 50-day moving average is $121.86 and its 200-day moving average is $120.59.

Transcat (NASDAQ:TRNS) last released its quarterly earnings results on Monday, July 29th. The scientific and technical instruments company reported $0.48 earnings per share (EPS) for the quarter, topping 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 company had revenue of $66.70 million during the quarter, compared to the consensus estimate of $69.35 million. During the same quarter in the prior year, the company posted $0.38 EPS. The firm’s revenue was up 10.1% on a year-over-year basis. Equities research analysts expect that Transcat, Inc. will post 2.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $156.00 target price on shares of Transcat in a research report on Tuesday, July 30th. Craig Hallum lowered their price target on shares of Transcat from $150.00 to $138.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $151.33.

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.