Needham Investment Management LLC Buys 30,870 Shares of Transcat, Inc. $TRNS

Needham Investment Management LLC grew its stake in shares of Transcat, Inc. (NASDAQ:TRNS) by 33.0% during the fourth quarter, HoldingsChannel reports. The firm owned 124,370 shares of the scientific and technical instruments company’s stock after purchasing an additional 30,870 shares during the quarter. Needham Investment Management LLC’s holdings in Transcat were worth $7,056,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Squarepoint Ops LLC lifted its position in Transcat by 58.2% during the 4th quarter. Squarepoint Ops LLC now owns 6,387 shares of the scientific and technical instruments company’s stock valued at $362,000 after acquiring an additional 2,349 shares during the period. Verition Fund Management LLC lifted its position in Transcat by 59.9% during the 4th quarter. Verition Fund Management LLC now owns 14,360 shares of the scientific and technical instruments company’s stock valued at $815,000 after acquiring an additional 5,378 shares during the period. Barclays PLC lifted its position in Transcat by 10.5% during the 4th quarter. Barclays PLC now owns 21,924 shares of the scientific and technical instruments company’s stock valued at $1,244,000 after acquiring an additional 2,091 shares during the period. Marshall Wace LLP purchased a new position in Transcat during the 4th quarter valued at about $236,000. Finally, Wells Fargo & Company MN lifted its position in Transcat by 60.6% during the 4th quarter. Wells Fargo & Company MN now owns 10,158 shares of the scientific and technical instruments company’s stock valued at $576,000 after acquiring an additional 3,832 shares during the period. 98.34% of the stock is owned by hedge funds and other institutional investors.

Transcat Trading Up 0.4%

Shares of NASDAQ TRNS opened at $91.60 on Tuesday. Transcat, Inc. has a 1 year low of $50.23 and a 1 year high of $94.76. The stock has a market cap of $855.54 million, a P/E ratio of 157.93 and a beta of 0.71. The firm has a 50-day moving average of $80.04 and a 200 day moving average of $71.24. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.33 and a quick ratio of 1.99.

Transcat (NASDAQ:TRNS) last issued its earnings results on Tuesday, May 26th. The scientific and technical instruments company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.05. The business had revenue of $89.33 million during the quarter, compared to analysts’ expectations of $89.79 million. Transcat had a net margin of 1.62% and a return on equity of 5.84%. As a group, sell-side analysts expect that Transcat, Inc. will post 1.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Weiss Ratings raised shares of Transcat from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, May 28th. Zacks Research raised shares of Transcat from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.33.

About Transcat

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.