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

Geode Capital Management LLC grew its stake in Transcat, Inc. (NASDAQ:TRNS) by 5.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 217,473 shares of the scientific and technical instruments company’s stock after purchasing an additional 11,106 shares during the quarter. Geode Capital Management LLC owned approximately 2.36% of Transcat worth $26,269,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of TRNS. Arkadios Wealth Advisors raised its holdings in 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 valued at $528,000 after acquiring an additional 76 shares during the period. Arizona State Retirement System grew its position in shares of Transcat by 5.3% in the second quarter. Arizona State Retirement System now owns 2,555 shares of the scientific and technical instruments company’s stock valued at $306,000 after purchasing an additional 129 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in 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 worth $1,264,000 after purchasing an additional 171 shares during the last quarter. Essex Investment Management Co. LLC boosted its stake in Transcat by 0.4% in the 3rd 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 purchasing an additional 171 shares during the period. Finally, US Bancorp DE grew 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 valued at $187,000 after buying an additional 209 shares in the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TRNS. HC Wainwright reissued a “buy” rating and issued a $156.00 target price on shares of Transcat in a research report on Tuesday, October 29th. StockNews.com downgraded shares of Transcat from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Northland Securities lowered their target price on shares of Transcat from $130.00 to $110.00 and set a “market perform” rating on the stock in a report on Wednesday, October 30th. Craig Hallum boosted their price target on Transcat from $113.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Finally, Oppenheimer reissued an “outperform” rating and set a $130.00 price target (down previously from $155.00) on shares of Transcat in a research report on Wednesday, October 30th. One equities research 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $130.25.

Transcat Stock Performance

Shares of TRNS opened at $107.93 on Friday. Transcat, Inc. has a 52-week low of $94.29 and a 52-week high of $147.12. The firm has a market cap of $992.85 million, a price-to-earnings ratio of 54.51 and a beta of 0.70. The business’s fifty day moving average is $108.15 and its 200-day moving average is $118.19.

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

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.