Victory Capital Management Inc. Reduces Stock Position in Transcat, Inc. (NASDAQ:TRNS)

Victory Capital Management Inc. lowered its position in shares of Transcat, Inc. (NASDAQ:TRNS) by 8.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,945 shares of the scientific and technical instruments company’s stock after selling 3,120 shares during the period. Victory Capital Management Inc. owned about 0.39% of Transcat worth $4,302,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TRNS. First Horizon Advisors Inc. lifted its position in shares of Transcat by 26.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 599 shares of the scientific and technical instruments company’s stock worth $72,000 after purchasing an additional 125 shares during the period. Fifth Third Bancorp lifted its position in shares of Transcat by 95.8% in the 2nd 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 period. Hamilton Wealth LLC purchased a new stake in shares of Transcat in the 1st quarter worth about $212,000. Virtu Financial LLC purchased a new stake in shares of Transcat in the 1st quarter worth about $224,000. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Transcat by 13.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,347 shares of the scientific and technical instruments company’s stock worth $262,000 after purchasing an additional 284 shares during the period. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on TRNS shares. Oppenheimer raised their target price on shares of Transcat from $125.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 22nd. Northland Capmk lowered shares of Transcat from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 22nd. Northland Securities lowered shares of Transcat from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 22nd. HC Wainwright reiterated a “buy” rating and issued a $156.00 price target on shares of Transcat in a research note on Tuesday, July 30th. Finally, Craig Hallum decreased their price target on shares of Transcat from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $151.33.

Transcat Stock Performance

NASDAQ:TRNS opened at $126.26 on Tuesday. The firm has a market cap of $1.15 billion, a P/E ratio of 79.41 and a beta of 0.67. Transcat, Inc. has a fifty-two week low of $84.45 and a fifty-two week high of $147.12. The firm has a 50-day simple moving average of $124.08 and a two-hundred day simple moving average of $119.26.

Transcat (NASDAQ:TRNS) last released its quarterly earnings data on Monday, July 29th. The scientific and technical instruments company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.20. Transcat had a net margin of 5.69% and a return on equity of 8.48%. The business had revenue of $66.70 million during the quarter, compared to analyst estimates of $69.35 million. During the same period last year, the business earned $0.38 EPS. Transcat’s revenue was up 10.1% compared to the same quarter last year. On average, equities research analysts predict that Transcat, Inc. will post 2.06 EPS for the current year.

Transcat Company 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.