Transcat, Inc. (NASDAQ:TRNS) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. increased its holdings in shares of Transcat, Inc. (NASDAQ:TRNS) by 8.8% in the third quarter, Holdings Channel reports. The firm owned 4,611 shares of the scientific and technical instruments company’s stock after buying an additional 373 shares during the quarter. Principal Financial Group Inc.’s holdings in Transcat were worth $557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of TRNS. Virtu Financial LLC lifted its holdings in shares of Transcat by 127.0% during the third quarter. Virtu Financial LLC now owns 4,136 shares of the scientific and technical instruments company’s stock worth $499,000 after purchasing an additional 2,314 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Transcat by 5.4% in the 3rd quarter. Geode Capital Management LLC now owns 217,473 shares of the scientific and technical instruments company’s stock valued at $26,269,000 after buying an additional 11,106 shares during the period. Barclays PLC boosted its stake in shares of Transcat by 393.0% in the third quarter. Barclays PLC now owns 15,130 shares of the scientific and technical instruments company’s stock valued at $1,826,000 after buying an additional 12,061 shares in the last quarter. State Street Corp grew its holdings in Transcat by 8.1% during the third quarter. State Street Corp now owns 207,230 shares of the scientific and technical instruments company’s stock worth $25,027,000 after acquiring an additional 15,514 shares during the period. Finally, Needham Investment Management LLC raised its position in Transcat by 43.6% in the third quarter. Needham Investment Management LLC now owns 39,500 shares of the scientific and technical instruments company’s stock worth $4,770,000 after acquiring an additional 12,000 shares in the last quarter. 98.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TRNS. Craig Hallum raised their price objective on Transcat from $113.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Northland Securities cut their price target on Transcat from $130.00 to $110.00 and set a “market perform” rating for the company in a report on Wednesday, October 30th. HC Wainwright restated a “buy” rating and issued a $156.00 price objective on shares of Transcat in a research report on Tuesday, October 29th. StockNews.com cut Transcat from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Finally, Oppenheimer reiterated an “outperform” rating and set a $130.00 target price (down from $155.00) on shares of Transcat in a research 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 stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $130.25.

Transcat Price Performance

NASDAQ:TRNS opened at $108.26 on Monday. Transcat, Inc. has a 12 month low of $94.29 and a 12 month high of $147.12. The business’s 50-day moving average is $105.72 and its two-hundred day moving average is $117.39. The firm has a market capitalization of $995.88 million, a PE ratio of 54.68 and a beta of 0.71.

Transcat (NASDAQ:TRNS) last posted its quarterly earnings data on Monday, October 28th. The scientific and technical instruments company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.12). The firm had revenue of $67.83 million during the quarter, compared to analysts’ expectations of $70.30 million. Transcat had a net margin of 6.63% and a return on equity of 7.36%. The business’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.41 earnings per share. Equities analysts anticipate that Transcat, Inc. will post 1.76 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.