Oppenheimer Asset Management Inc. Cuts Position in Transcat, Inc. (NASDAQ:TRNS)

Oppenheimer Asset Management Inc. lessened its holdings in Transcat, Inc. (NASDAQ:TRNS) by 36.4% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,718 shares of the scientific and technical instruments company’s stock after selling 3,844 shares during the period. Oppenheimer Asset Management Inc. owned approximately 0.07% of Transcat worth $811,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TRNS. Swiss National Bank boosted 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 worth $1,941,000 after buying an additional 200 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Transcat by 8.6% in the first quarter. Russell Investments Group Ltd. now owns 26,713 shares of the scientific and technical instruments company’s stock valued at $2,977,000 after purchasing an additional 2,121 shares during the last quarter. Quadrature Capital Ltd purchased a new position in Transcat in the first quarter valued at approximately $619,000. Hood River Capital Management LLC lifted its stake in Transcat by 7.2% in the first quarter. Hood River Capital Management LLC now owns 161,891 shares of the scientific and technical instruments company’s stock valued at $18,040,000 after purchasing an additional 10,803 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in Transcat by 13.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,347 shares of the scientific and technical instruments company’s stock valued at $262,000 after purchasing an additional 284 shares during the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on TRNS. HC Wainwright reiterated a “buy” rating and issued a $156.00 price objective on shares of Transcat in a research note on Tuesday, October 29th. StockNews.com downgraded Transcat from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Northland Securities dropped their price objective on Transcat from $130.00 to $110.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 30th. Oppenheimer reissued an “outperform” rating and set a $130.00 target price (down previously from $155.00) on shares of Transcat in a report on Wednesday, October 30th. Finally, Craig Hallum lowered their target price on shares of Transcat from $138.00 to $113.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Transcat has a consensus rating of “Hold” and an average target price of $127.25.

Transcat Price Performance

Shares of TRNS stock opened at $102.56 on Tuesday. The company’s fifty day simple moving average is $117.89 and its two-hundred day simple moving average is $121.78. Transcat, Inc. has a 1 year low of $92.00 and a 1 year high of $147.12. The stock has a market capitalization of $943.45 million, a price-to-earnings ratio of 51.80 and a beta of 0.69.

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