JPMorgan Chase & Co. Raises Stake in Transcat, Inc. (NASDAQ:TRNS)

JPMorgan Chase & Co. lifted its stake in shares of Transcat, Inc. (NASDAQ:TRNS) by 153.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26,434 shares of the scientific and technical instruments company’s stock after purchasing an additional 15,991 shares during the quarter. JPMorgan Chase & Co. owned about 0.28% of Transcat worth $2,795,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in TRNS. Jones Financial Companies Lllp grew its position in Transcat by 686.7% during the fourth quarter. Jones Financial Companies Lllp now owns 354 shares of the scientific and technical instruments company’s stock worth $37,000 after buying an additional 309 shares during the period. Morgan Dempsey Capital Management LLC purchased a new stake in shares of Transcat during the 4th quarter worth approximately $143,000. SG Americas Securities LLC acquired a new stake in shares of Transcat in the 4th quarter worth approximately $182,000. KLP Kapitalforvaltning AS purchased a new position in Transcat in the 4th quarter valued at approximately $190,000. Finally, Virtu Financial LLC raised its holdings in Transcat by 127.0% during the third quarter. Virtu Financial LLC now owns 4,136 shares of the scientific and technical instruments company’s stock worth $499,000 after purchasing an additional 2,314 shares during the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Transcat Trading Up 0.8 %

Shares of TRNS stock opened at $84.23 on Wednesday. The company has a market capitalization of $784.10 million, a price-to-earnings ratio of 45.53 and a beta of 0.67. The company has a current ratio of 2.42, a quick ratio of 1.98 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average price of $77.11 and a 200 day moving average price of $95.15. Transcat, Inc. has a twelve month low of $67.56 and a twelve month high of $147.12.

Transcat (NASDAQ:TRNS) last posted its quarterly earnings data on Monday, January 27th. The scientific and technical instruments company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.07. Transcat had a net margin of 6.22% and a return on equity of 7.23%. During the same period last year, the firm earned $0.56 earnings per share. Research analysts forecast that Transcat, Inc. will post 2.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Transcat

In other Transcat news, Director Craig D. Cairns acquired 1,200 shares of the stock in a transaction dated Friday, January 31st. The stock was acquired at an average price of $77.02 per share, with a total value of $92,424.00. Following the completion of the transaction, the director now directly owns 1,910 shares in the company, valued at approximately $147,108.20. This trade represents a 169.01 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 2.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

TRNS has been the topic of several research reports. HC Wainwright lowered their target price on Transcat from $126.00 to $106.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Northland Securities reissued a “market perform” rating and issued a $85.00 price objective (down from $110.00) on shares of Transcat in a research note on Wednesday, January 29th. StockNews.com cut shares of Transcat from a “hold” rating to a “sell” rating in a research report on Wednesday, February 5th. Finally, Oppenheimer downgraded shares of Transcat from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Transcat has a consensus rating of “Hold” and a consensus price target of $111.50.

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.