Transcat, Inc. $TRNS Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC decreased its position in Transcat, Inc. (NASDAQ:TRNS) by 5.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 315,207 shares of the scientific and technical instruments company’s stock after selling 19,360 shares during the quarter. Fred Alger Management LLC’s holdings in Transcat were worth $23,073,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in TRNS. State of Alaska Department of Revenue purchased a new position in shares of Transcat during the third quarter worth $40,000. Lazard Asset Management LLC purchased a new stake in shares of Transcat in the 2nd quarter valued at $54,000. PNC Financial Services Group Inc. lifted its stake in Transcat by 1,118.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,072 shares of the scientific and technical instruments company’s stock worth $92,000 after acquiring an additional 984 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in Transcat by 245.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,123 shares of the scientific and technical instruments company’s stock worth $97,000 after acquiring an additional 798 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in Transcat by 79.2% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,634 shares of the scientific and technical instruments company’s stock valued at $120,000 after acquiring an additional 722 shares during the period. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on TRNS shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Transcat in a research report on Monday, December 29th. Zacks Research raised shares of Transcat from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $105.33.

Transcat Stock Up 0.6%

Transcat stock opened at $74.41 on Tuesday. The firm has a market capitalization of $694.25 million, a P/E ratio of 87.54 and a beta of 0.71. The company has a current ratio of 2.21, a quick ratio of 1.85 and a debt-to-equity ratio of 0.34. Transcat, Inc. has a twelve month low of $50.23 and a twelve month high of $97.08. The stock’s fifty day simple moving average is $70.36 and its 200-day simple moving average is $67.28.

Transcat (NASDAQ:TRNS) last released its earnings results on Tuesday, February 3rd. The scientific and technical instruments company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.04). Transcat had a net margin of 2.47% and a return on equity of 6.15%. The company had revenue of $83.86 million during the quarter, compared to analysts’ expectations of $80.99 million. As a group, equities analysts expect that Transcat, Inc. will post 2.3 earnings per share for the current fiscal year.

Transcat Company Profile

Transcat, Inc (NASDAQ: TRNS) is a leading provider of calibration, laboratory, and metrology services in North America. Founded in 1964 and headquartered in Ronkonkoma, New York, the company specializes in ensuring the accuracy and compliance of measurement instruments across a wide range of industries. Transcat operates a network of ISO/IEC 17025–accredited laboratories and offers on-site field calibration, instrument repair, and preventive maintenance services.

In addition to its calibration services, Transcat distributes precision instrumentation and related software solutions from top manufacturers.