Walleye Capital LLC Invests $216,000 in Transcat, Inc. (NASDAQ:TRNS)

Walleye Capital LLC acquired a new stake in Transcat, Inc. (NASDAQ:TRNS) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 1,792 shares of the scientific and technical instruments company’s stock, valued at approximately $216,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TRNS. DekaBank Deutsche Girozentrale acquired a new stake in Transcat in the second quarter worth about $40,000. nVerses Capital LLC acquired a new stake in shares of Transcat in the 3rd quarter worth approximately $60,000. First Horizon Advisors Inc. boosted its holdings in shares of Transcat by 26.4% in the second quarter. First Horizon Advisors Inc. now owns 599 shares of the scientific and technical instruments company’s stock valued at $72,000 after acquiring an additional 125 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of Transcat by 95.8% during the second quarter. Fifth Third Bancorp now owns 656 shares of the scientific and technical instruments company’s stock valued at $79,000 after acquiring an additional 321 shares during the period. Finally, Quest Partners LLC bought a new stake in Transcat during the second quarter worth approximately $109,000. 98.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TRNS has been the topic of several research analyst reports. Craig Hallum lowered their price target on Transcat from $138.00 to $113.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Oppenheimer reissued an “outperform” rating and issued a $130.00 price target (down from $155.00) on shares of Transcat in a report on Wednesday, October 30th. HC Wainwright reaffirmed a “buy” rating and issued a $156.00 price objective on shares of Transcat in a research note on Tuesday, October 29th. StockNews.com cut shares of Transcat from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Finally, Northland Securities dropped their price target on Transcat from $130.00 to $110.00 and set a “market perform” 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 assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $127.25.

Transcat Stock Performance

NASDAQ TRNS opened at $108.68 on Thursday. The firm’s 50 day moving average price is $111.58 and its two-hundred day moving average price is $119.71. Transcat, Inc. has a twelve month low of $94.29 and a twelve month high of $147.12. The stock has a market cap of $999.86 million, a price-to-earnings ratio of 54.89 and a beta of 0.70.

Transcat (NASDAQ:TRNS) last posted 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). Transcat had a net margin of 6.63% and a return on equity of 7.36%. The business had revenue of $67.83 million for the quarter, compared to analyst estimates of $70.30 million. During the same period in the previous year, the firm posted $0.41 earnings per share. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. On average, research analysts forecast that Transcat, Inc. will post 1.76 EPS for the current fiscal 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.