Fred Alger Management LLC Reduces Holdings in Transcat, Inc. (NASDAQ:TRNS)

Fred Alger Management LLC decreased its holdings in shares of Transcat, Inc. (NASDAQ:TRNS) by 40.6% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 349,167 shares of the scientific and technical instruments company’s stock after selling 238,192 shares during the period. Fred Alger Management LLC owned approximately 3.80% of Transcat worth $42,169,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Conestoga Capital Advisors LLC grew its stake in shares of Transcat by 17.9% during the third quarter. Conestoga Capital Advisors LLC now owns 907,191 shares of the scientific and technical instruments company’s stock worth $109,561,000 after acquiring an additional 137,830 shares during the last quarter. Royce & Associates LP grew its stake in shares of Transcat by 8.2% during the third quarter. Royce & Associates LP now owns 511,701 shares of the scientific and technical instruments company’s stock worth $61,798,000 after acquiring an additional 38,774 shares during the last quarter. Champlain Investment Partners LLC grew its stake in shares of Transcat by 22.1% during the third quarter. Champlain Investment Partners LLC now owns 409,500 shares of the scientific and technical instruments company’s stock worth $49,455,000 after acquiring an additional 74,169 shares during the last quarter. Hood River Capital Management LLC grew its stake in shares of Transcat by 21.6% during the second quarter. Hood River Capital Management LLC now owns 196,838 shares of the scientific and technical instruments company’s stock worth $23,558,000 after acquiring an additional 34,947 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Transcat by 28.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 79,303 shares of the scientific and technical instruments company’s stock worth $9,577,000 after acquiring an additional 17,743 shares during the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Transcat Trading Down 0.5 %

Shares of NASDAQ:TRNS opened at $105.04 on Friday. Transcat, Inc. has a 12-month low of $94.29 and a 12-month high of $147.12. The company has a market capitalization of $966.37 million, a PE ratio of 53.05 and a beta of 0.69. The business has a 50 day moving average of $115.44 and a two-hundred day moving average of $121.32.

Transcat (NASDAQ:TRNS) last announced its quarterly earnings results on Monday, October 28th. The scientific and technical instruments company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.12). Transcat had a net margin of 6.63% and a return on equity of 7.36%. The company had revenue of $67.83 million during 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 company’s revenue was up 8.0% compared to the same quarter last year. Equities research analysts predict that Transcat, Inc. will post 1.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on TRNS shares. 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 research note on Wednesday, October 30th. Craig Hallum decreased their target price on Transcat from $138.00 to $113.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. HC Wainwright reaffirmed a “buy” rating and set a $156.00 target price on shares of Transcat in a report on Tuesday, October 29th. StockNews.com downgraded Transcat from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $130.00 target price (down previously from $155.00) on shares of Transcat 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 given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $127.25.

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.