Geode Capital Management LLC Buys 11,106 Shares of Transcat, Inc. (NASDAQ:TRNS)

Geode Capital Management LLC boosted its stake in Transcat, Inc. (NASDAQ:TRNS) by 5.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 217,473 shares of the scientific and technical instruments company’s stock after acquiring an additional 11,106 shares during the period. Geode Capital Management LLC’s holdings in Transcat were worth $26,269,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TRNS. Arkadios Wealth Advisors lifted its position in shares of Transcat by 1.8% in the 2nd quarter. Arkadios Wealth Advisors now owns 4,411 shares of the scientific and technical instruments company’s stock worth $528,000 after purchasing an additional 76 shares during the period. Arizona State Retirement System raised its stake in 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 buying an additional 129 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in Transcat by 1.6% in the second 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 buying an additional 171 shares during the period. Essex Investment Management Co. LLC boosted its position in Transcat by 0.4% during the third quarter. Essex Investment Management Co. LLC now owns 43,444 shares of the scientific and technical instruments company’s stock valued at $5,247,000 after acquiring an additional 171 shares during the last quarter. Finally, US Bancorp DE grew its holdings in Transcat by 15.6% during the 3rd quarter. US Bancorp DE now owns 1,547 shares of the scientific and technical instruments company’s stock worth $187,000 after acquiring an additional 209 shares during the period. Institutional investors and hedge funds own 98.34% of the company’s stock.

Transcat Trading Down 0.0 %

Shares of TRNS stock opened at $107.93 on Friday. The firm has a fifty day simple moving average of $108.15 and a two-hundred day simple moving average of $118.19. Transcat, Inc. has a 12 month low of $94.29 and a 12 month high of $147.12. The firm has a market capitalization of $992.85 million, a PE ratio of 54.51 and a beta of 0.70.

Transcat (NASDAQ:TRNS) last posted its earnings results on Monday, October 28th. The scientific and technical instruments company reported $0.35 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $70.30 million. During the same period in the previous year, the firm earned $0.41 earnings per share. The company’s revenue was up 8.0% on a year-over-year basis. On average, equities analysts predict that Transcat, Inc. will post 1.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TRNS has been the topic of a number of recent analyst reports. HC Wainwright reissued a “buy” rating and issued a $156.00 price objective on shares of Transcat in a research note on Tuesday, October 29th. Craig Hallum increased their price target on Transcat from $113.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. StockNews.com lowered shares of Transcat from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Oppenheimer reissued an “outperform” rating and set a $130.00 target price (down from $155.00) on shares of Transcat in a research note on Wednesday, October 30th. Finally, Northland Securities decreased 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 note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $130.25.

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.