Transcat, Inc. (NASDAQ:TRNS) Shares Purchased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. raised its position in Transcat, Inc. (NASDAQ:TRNS) by 1.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,562 shares of the scientific and technical instruments company’s stock after purchasing an additional 171 shares during the period. Oppenheimer Asset Management Inc. owned about 0.12% of Transcat worth $1,264,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of TRNS. Arkadios Wealth Advisors lifted its stake in shares of Transcat by 1.8% during the second quarter. Arkadios Wealth Advisors now owns 4,411 shares of the scientific and technical instruments company’s stock valued at $528,000 after buying an additional 76 shares during the period. First Horizon Advisors Inc. boosted its holdings in shares of Transcat by 26.4% during the second quarter. First Horizon Advisors Inc. now owns 599 shares of the scientific and technical instruments company’s stock worth $72,000 after purchasing an additional 125 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Transcat by 5.3% during the second quarter. Arizona State Retirement System now owns 2,555 shares of the scientific and technical instruments company’s stock worth $306,000 after purchasing an additional 129 shares during the last quarter. Swiss National Bank grew its position in shares of Transcat by 1.2% in the first quarter. Swiss National Bank now owns 17,415 shares of the scientific and technical instruments company’s stock valued at $1,941,000 after purchasing an additional 200 shares during the period. Finally, Ellsworth Advisors LLC lifted its position in Transcat by 5.4% during the second quarter. Ellsworth Advisors LLC now owns 4,828 shares of the scientific and technical instruments company’s stock worth $578,000 after buying an additional 247 shares during the period. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on TRNS shares. Northland Securities downgraded shares of Transcat from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 22nd. Craig Hallum cut their price target on shares of Transcat from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Oppenheimer boosted their price objective on shares of Transcat from $125.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, May 22nd. Northland Capmk downgraded Transcat from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 22nd. Finally, HC Wainwright reiterated a “buy” rating and issued a $156.00 target price on shares of Transcat in a report on Tuesday, July 30th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $151.33.

Transcat Stock Up 1.2 %

TRNS opened at $128.39 on Thursday. Transcat, Inc. has a 52-week low of $84.45 and a 52-week high of $147.12. The company has a 50 day moving average of $124.24 and a two-hundred day moving average of $119.41. The company has a market cap of $1.17 billion, a P/E ratio of 80.75 and a beta of 0.67.

Transcat (NASDAQ:TRNS) last announced its quarterly earnings results on Monday, July 29th. The scientific and technical instruments company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.20. The firm had revenue of $66.70 million during the quarter, compared to the consensus estimate of $69.35 million. Transcat had a return on equity of 8.48% and a net margin of 5.69%. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.38 EPS. Research analysts anticipate that Transcat, Inc. will post 2.06 earnings per share for the current year.

About Transcat

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.