Victory Capital Management Inc. Sells 1,715 Shares of Transcat, Inc. (NASDAQ:TRNS)

Victory Capital Management Inc. cut its stake in shares of Transcat, Inc. (NASDAQ:TRNS) by 4.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,230 shares of the scientific and technical instruments company’s stock after selling 1,715 shares during the quarter. Victory Capital Management Inc. owned approximately 0.37% of Transcat worth $4,134,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its position in shares of Transcat by 8.8% in the third quarter. Principal Financial Group Inc. now owns 4,611 shares of the scientific and technical instruments company’s stock worth $557,000 after purchasing an additional 373 shares during the period. Conestoga Capital Advisors LLC lifted its stake in shares of Transcat by 17.9% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 907,191 shares of the scientific and technical instruments company’s stock valued at $109,561,000 after buying an additional 137,830 shares in the last quarter. US Bancorp DE boosted its holdings in Transcat by 15.6% in the 3rd quarter. US Bancorp DE now owns 1,547 shares of the scientific and technical instruments company’s stock worth $187,000 after buying an additional 209 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Transcat by 28.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 79,303 shares of the scientific and technical instruments company’s stock worth $9,577,000 after buying an additional 17,743 shares in the last quarter. Finally, Arkadios Wealth Advisors raised its holdings in Transcat by 38.7% during the third quarter. Arkadios Wealth Advisors now owns 6,118 shares of the scientific and technical instruments company’s stock valued at $739,000 after acquiring an additional 1,707 shares during the period. 98.34% of the stock is owned by hedge funds and other institutional investors.

Transcat Stock Performance

TRNS stock opened at $109.02 on Friday. The firm has a market cap of $1.00 billion, a PE ratio of 55.06 and a beta of 0.69. The firm has a fifty day moving average price of $116.61 and a 200 day moving average price of $121.46. Transcat, Inc. has a fifty-two week low of $94.29 and a fifty-two week 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). Transcat had a return on equity of 7.36% and a net margin of 6.63%. The business had revenue of $67.83 million during the quarter, compared to the consensus estimate of $70.30 million. During the same quarter last year, the firm earned $0.41 earnings per share. The business’s quarterly revenue was up 8.0% on a year-over-year basis. On average, equities analysts predict that Transcat, Inc. will post 1.76 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.