Oppenheimer Asset Management Inc. Lowers Stake in Transcat, Inc. (NASDAQ:TRNS)

Oppenheimer Asset Management Inc. lowered its stake in shares of Transcat, Inc. (NASDAQ:TRNS) by 1.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,391 shares of the scientific and technical instruments company’s stock after selling 191 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Transcat were worth $1,158,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Diversified Trust Co lifted its holdings in Transcat by 4.3% during the fourth quarter. Diversified Trust Co now owns 2,435 shares of the scientific and technical instruments company’s stock worth $266,000 after buying an additional 100 shares during the period. Arizona State Retirement System increased its position in shares of Transcat by 11.9% during the fourth quarter. Arizona State Retirement System now owns 2,434 shares of the scientific and technical instruments company’s stock worth $266,000 after purchasing an additional 258 shares in the last quarter. Howe & Rusling Inc. acquired a new position in shares of Transcat during the fourth quarter worth $385,000. Linden Thomas Advisory Services LLC increased its position in shares of Transcat by 26.9% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 3,841 shares of the scientific and technical instruments company’s stock worth $420,000 after purchasing an additional 814 shares in the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of Transcat by 34.6% during the fourth quarter. New York State Common Retirement Fund now owns 3,963 shares of the scientific and technical instruments company’s stock worth $433,000 after purchasing an additional 1,019 shares in the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Insider Buying and Selling

In related news, Director Charles P. Hadeed sold 1,358 shares of Transcat stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $130.00, for a total transaction of $176,540.00. Following the completion of the sale, the director now owns 21,320 shares of the company’s stock, valued at $2,771,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Transcat news, insider James M. Jenkins sold 5,514 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $137.18, for a total value of $756,410.52. Following the completion of the transaction, the insider now directly owns 1,619 shares of the company’s stock, valued at $222,094.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles P. Hadeed sold 1,358 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $130.00, for a total value of $176,540.00. Following the completion of the transaction, the director now directly owns 21,320 shares of the company’s stock, valued at $2,771,600. The disclosure for this sale can be found here. Insiders sold 22,215 shares of company stock valued at $2,969,084 over the last quarter. 4.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

TRNS has been the topic of a number of recent analyst reports. Oppenheimer upped their price target on Transcat from $125.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 22nd. Northland Capmk downgraded Transcat from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. HC Wainwright upped their price target on Transcat from $124.00 to $156.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Finally, Northland Securities downgraded Transcat from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 22nd. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $142.67.

Transcat Trading Up 3.8 %

Transcat stock opened at $129.58 on Monday. The company has a quick ratio of 2.62, a current ratio of 3.14 and a debt-to-equity ratio of 0.01. Transcat, Inc. has a 52 week low of $81.59 and a 52 week high of $147.00. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 81.50 and a beta of 0.68. The stock has a 50-day moving average price of $123.77 and a 200 day moving average price of $112.89.

Transcat (NASDAQ:TRNS) last released its earnings results on Monday, May 20th. The scientific and technical instruments company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.25. Transcat had a return on equity of 9.50% and a net margin of 5.26%. The firm had revenue of $70.91 million during the quarter, compared to the consensus estimate of $68.76 million. Sell-side analysts anticipate that Transcat, Inc. will post 1.99 EPS 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.