Oppenheimer Asset Management Inc. Buys Shares of 10,301 Transcat, Inc. $TRNS

Oppenheimer Asset Management Inc. acquired a new stake in shares of Transcat, Inc. (NASDAQ:TRNS) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 10,301 shares of the scientific and technical instruments company’s stock, valued at approximately $956,000. Oppenheimer Asset Management Inc. owned approximately 0.11% of Transcat as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky bought a new stake in Transcat during the fourth quarter worth approximately $1,974,000. Needham Investment Management LLC boosted its stake in shares of Transcat by 33.0% during the 4th quarter. Needham Investment Management LLC now owns 124,370 shares of the scientific and technical instruments company’s stock worth $7,056,000 after acquiring an additional 30,870 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Transcat by 3.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 262,033 shares of the scientific and technical instruments company’s stock worth $19,244,000 after acquiring an additional 9,266 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of Transcat by 6,267.8% in the 1st quarter. Fifth Third Bancorp now owns 47,886 shares of the scientific and technical instruments company’s stock worth $3,517,000 after acquiring an additional 47,134 shares during the last quarter. Finally, Royce & Associates LP raised its position in shares of Transcat by 15.3% during the fourth quarter. Royce & Associates LP now owns 390,546 shares of the scientific and technical instruments company’s stock worth $22,156,000 after purchasing an additional 51,774 shares during the period. 98.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Transcat

In other news, Director Craig D. Cairns acquired 1,050 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The stock was acquired at an average cost of $93.97 per share, for a total transaction of $98,668.50. Following the completion of the acquisition, the director owned 1,480 shares in the company, valued at approximately $139,075.60. The trade was a 244.19% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christopher P. Gillette sold 504 shares of Transcat stock in a transaction on Friday, August 7th. The shares were sold at an average price of $94.23, for a total value of $47,491.92. Following the sale, the director directly owned 200 shares of the company’s stock, valued at approximately $18,846. The trade was a 71.59% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.80% of the stock is currently owned by company insiders.

Transcat Price Performance

Transcat stock opened at $93.70 on Monday. Transcat, Inc. has a twelve month low of $50.23 and a twelve month high of $100.00. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.11 and a current ratio of 2.49. The firm has a market cap of $877.03 million, a PE ratio of 253.24 and a beta of 0.68. The firm’s 50 day moving average price is $90.05 and its two-hundred day moving average price is $80.83.

Transcat (NASDAQ:TRNS) last issued its earnings results on Tuesday, August 4th. The scientific and technical instruments company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.13. Transcat had a net margin of 0.99% and a return on equity of 5.56%. The company had revenue of $92.95 million during the quarter, compared to analyst estimates of $86.55 million. On average, research analysts predict that Transcat, Inc. will post 1.74 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on TRNS shares. Zacks Research raised shares of Transcat from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Weiss Ratings upgraded shares of Transcat from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, May 28th. Northland Securities lowered shares of Transcat from an “outperform” rating to a “market perform” rating and set a $95.00 price objective for the company. in a research note on Wednesday, August 5th. Finally, Wall Street Zen upgraded shares of Transcat from a “sell” rating to a “hold” rating in a research report on Sunday, June 28th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $105.50.

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.