State Street Corp Buys 15,514 Shares of Transcat, Inc. (NASDAQ:TRNS)

State Street Corp lifted its stake in Transcat, Inc. (NASDAQ:TRNS) by 8.1% in the third quarter, HoldingsChannel.com reports. The fund owned 207,230 shares of the scientific and technical instruments company’s stock after purchasing an additional 15,514 shares during the period. State Street Corp’s holdings in Transcat were worth $25,027,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Fifth Third Bancorp boosted its holdings in Transcat by 95.8% in the second quarter. Fifth Third Bancorp now owns 656 shares of the scientific and technical instruments company’s stock worth $79,000 after purchasing an additional 321 shares during the last quarter. Calamos Advisors LLC grew its holdings in shares of Transcat by 76.0% in the second quarter. Calamos Advisors LLC now owns 15,441 shares of the scientific and technical instruments company’s stock worth $1,848,000 after acquiring an additional 6,667 shares during the period. Bank of New York Mellon Corp increased its position in Transcat by 23.5% during the second quarter. Bank of New York Mellon Corp now owns 33,181 shares of the scientific and technical instruments company’s stock valued at $3,971,000 after acquiring an additional 6,315 shares during the last quarter. Conestoga Capital Advisors LLC lifted its holdings in Transcat by 0.3% in the second quarter. Conestoga Capital Advisors LLC now owns 769,361 shares of the scientific and technical instruments company’s stock valued at $92,077,000 after acquiring an additional 2,155 shares during the period. Finally, Arkadios Wealth Advisors lifted its holdings in Transcat by 1.8% in the second 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. 98.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TRNS has been the subject of a number of recent research reports. HC Wainwright restated a “buy” rating and set a $156.00 price target on shares of Transcat in a research note on Tuesday, October 29th. Northland Securities cut their target price on shares of Transcat from $130.00 to $110.00 and set a “market perform” rating for the company in a research report on Wednesday, October 30th. Craig Hallum lifted their price target on shares of Transcat from $113.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Oppenheimer reissued an “outperform” rating and set a $130.00 price objective (down previously from $155.00) on shares of Transcat in a research report on Wednesday, October 30th. Finally, StockNews.com cut Transcat from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $130.25.

Transcat Price Performance

TRNS opened at $105.75 on Monday. The company has a 50 day simple moving average of $109.85 and a two-hundred day simple moving average of $118.70. The firm has a market cap of $972.79 million, a P/E ratio of 53.41 and a beta of 0.70. Transcat, Inc. has a 1-year low of $94.29 and a 1-year high of $147.12.

Transcat (NASDAQ:TRNS) last issued its 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 quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.41 EPS. Equities analysts anticipate that Transcat, Inc. will post 1.76 earnings per share for the current year.

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.