MQS Management LLC Invests $254,000 in Transcat, Inc. (NASDAQ:TRNS)

MQS Management LLC purchased a new stake in shares of Transcat, Inc. (NASDAQ:TRNS) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,120 shares of the scientific and technical instruments company’s stock, valued at approximately $254,000.

A number of other hedge funds and other institutional investors have also modified their holdings of TRNS. Arkadios Wealth Advisors lifted its position in Transcat by 1.8% during the 2nd quarter. Arkadios Wealth Advisors now owns 4,411 shares of the scientific and technical instruments company’s stock valued at $528,000 after purchasing an additional 76 shares during the period. First Horizon Advisors Inc. boosted 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. Arizona State Retirement System grew its holdings in Transcat by 5.3% during the 2nd quarter. Arizona State Retirement System now owns 2,555 shares of the scientific and technical instruments company’s stock worth $306,000 after acquiring an additional 129 shares during the period. Oppenheimer Asset Management Inc. raised its position in shares of Transcat by 1.6% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 10,562 shares of the scientific and technical instruments company’s stock valued at $1,264,000 after acquiring an additional 171 shares during the last quarter. Finally, Swiss National Bank lifted its stake in shares of Transcat by 1.2% in the 1st 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. Institutional investors and hedge funds own 98.34% of the company’s stock.

Transcat Stock Down 3.6 %

TRNS opened at $128.02 on Friday. The stock has a market cap of $1.17 billion, a P/E ratio of 80.52 and a beta of 0.67. Transcat, Inc. has a 12 month low of $84.45 and a 12 month high of $147.12. The company has a fifty day simple moving average of $124.55 and a 200 day simple moving average of $119.56.

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, topping the consensus estimate of $0.28 by $0.20. The company 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 company’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.38 earnings per share. On average, 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 equities research analysts recently commented on TRNS shares. Craig Hallum dropped their price objective on Transcat from $150.00 to $138.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. HC Wainwright restated a “buy” rating and set a $156.00 target price on shares of Transcat in a research report on Tuesday, July 30th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Transcat has an average rating of “Moderate Buy” and an average price target of $151.33.

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.