Oppenheimer Asset Management Inc. Sells 3,844 Shares of Transcat, Inc. (NASDAQ:TRNS)

Oppenheimer Asset Management Inc. lessened its position in Transcat, Inc. (NASDAQ:TRNS) by 36.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,718 shares of the scientific and technical instruments company’s stock after selling 3,844 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Transcat were worth $811,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in TRNS. DekaBank Deutsche Girozentrale bought a new position in Transcat in the second quarter valued at $40,000. nVerses Capital LLC bought a new position in Transcat in the third quarter valued at $60,000. First Horizon Advisors Inc. increased its stake in Transcat by 26.4% in the second quarter. First Horizon Advisors Inc. now owns 599 shares of the scientific and technical instruments company’s stock valued at $72,000 after acquiring an additional 125 shares during the last quarter. Fifth Third Bancorp increased its stake in Transcat by 95.8% in the second quarter. Fifth Third Bancorp now owns 656 shares of the scientific and technical instruments company’s stock valued at $79,000 after acquiring an additional 321 shares during the last quarter. Finally, Quest Partners LLC bought a new position in Transcat in the second quarter valued at $109,000. Institutional investors own 98.34% of the company’s stock.

Transcat Trading Down 0.8 %

Transcat stock opened at $102.56 on Tuesday. The firm has a 50-day moving average of $117.89 and a 200-day moving average of $121.78. The firm has a market cap of $943.45 million, a P/E ratio of 51.80 and a beta of 0.69. Transcat, Inc. has a 1-year low of $92.00 and a 1-year high of $147.12.

Transcat (NASDAQ:TRNS) last posted its earnings results on Monday, October 28th. The scientific and technical instruments company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.12). The firm had revenue of $67.83 million for the quarter, compared to analysts’ expectations of $70.30 million. Transcat had a return on equity of 7.36% and a net margin of 6.63%. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.41 earnings per share. Research analysts forecast that Transcat, Inc. will post 1.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on TRNS shares. StockNews.com cut Transcat from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Oppenheimer restated an “outperform” rating and set a $130.00 price target (down from $155.00) on shares of Transcat in a research report on Wednesday, October 30th. Craig Hallum cut their price target on shares of Transcat from $138.00 to $113.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Northland Securities cut their price target on shares of Transcat from $130.00 to $110.00 and set a “market perform” rating for the company in a research report on Wednesday, October 30th. Finally, HC Wainwright restated a “buy” rating and set a $156.00 price target on shares of Transcat in a research report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $127.25.

Transcat 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.