Transcat, Inc. (NASDAQ:TRNS) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its holdings in Transcat, Inc. (NASDAQ:TRNS) by 9.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,216 shares of the scientific and technical instruments company’s stock after selling 1,760 shares during the period. Envestnet Asset Management Inc. owned 0.17% of Transcat worth $1,207,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Bank of New York Mellon Corp lifted its position in Transcat by 0.6% during the first quarter. Bank of New York Mellon Corp now owns 27,916 shares of the scientific and technical instruments company’s stock worth $2,078,000 after buying an additional 172 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of Transcat by 64.3% in the 1st quarter. Bessemer Group Inc. now owns 180,069 shares of the scientific and technical instruments company’s stock worth $13,404,000 after acquiring an additional 70,461 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Transcat by 6.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 5,071 shares of the scientific and technical instruments company’s stock worth $378,000 after acquiring an additional 328 shares during the period. Conestoga Capital Advisors LLC raised its holdings in shares of Transcat by 5.8% during the 1st quarter. Conestoga Capital Advisors LLC now owns 957,254 shares of the scientific and technical instruments company’s stock worth $71,268,000 after acquiring an additional 52,328 shares during the period. Finally, Rhumbline Advisers boosted its position in shares of Transcat by 6.2% during the 1st quarter. Rhumbline Advisers now owns 13,110 shares of the scientific and technical instruments company’s stock valued at $976,000 after acquiring an additional 762 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Transcat Trading Down 2.5%

NASDAQ TRNS opened at $74.55 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.29 and a quick ratio of 1.87. The stock has a market capitalization of $694.81 million, a P/E ratio of 47.79 and a beta of 0.71. The firm’s 50-day moving average is $83.13 and its two-hundred day moving average is $81.76. Transcat, Inc. has a 12 month low of $67.56 and a 12 month high of $133.72.

Transcat (NASDAQ:TRNS) last released its quarterly earnings results on Monday, May 19th. The scientific and technical instruments company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The company had revenue of $77.13 million during the quarter, compared to analysts’ expectations of $76.40 million. Transcat had a net margin of 5.21% and a return on equity of 6.47%. Transcat’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, sell-side analysts anticipate that Transcat, Inc. will post 2.3 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on TRNS shares. Lake Street Capital started coverage on shares of Transcat in a research report on Thursday, July 10th. They set a “buy” rating and a $105.00 price objective for the company. Wall Street Zen raised shares of Transcat from a “sell” rating to a “hold” rating in a research note on Wednesday, May 28th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $116.00 price target on shares of Transcat in a research report on Wednesday, June 25th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $112.20.

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.