Raymond James Financial Inc. Purchases New Stake in Transcat, Inc. (NASDAQ:TRNS)

Raymond James Financial Inc. bought a new stake in Transcat, Inc. (NASDAQ:TRNS - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 19,587 shares of the scientific and technical instruments company's stock, valued at approximately $2,071,000. Raymond James Financial Inc. owned about 0.21% of Transcat as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Jones Financial Companies Lllp lifted its position in shares of Transcat by 686.7% in the fourth quarter. Jones Financial Companies Lllp now owns 354 shares of the scientific and technical instruments company's stock valued at $37,000 after buying an additional 309 shares during the last quarter. Morgan Dempsey Capital Management LLC acquired a new stake in Transcat during the 4th quarter valued at $143,000. SG Americas Securities LLC acquired a new stake in Transcat during the 4th quarter valued at $182,000. KLP Kapitalforvaltning AS acquired a new position in shares of Transcat in the fourth quarter valued at $190,000. Finally, Wells Fargo & Company MN raised its position in shares of Transcat by 52.3% in the fourth quarter. Wells Fargo & Company MN now owns 4,259 shares of the scientific and technical instruments company's stock valued at $450,000 after purchasing an additional 1,463 shares during the period. Institutional investors own 98.34% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on TRNS. HC Wainwright reduced their target price on shares of Transcat from $126.00 to $106.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. Northland Securities reaffirmed a "market perform" rating and issued a $85.00 target price (down previously from $110.00) on shares of Transcat in a research report on Wednesday, January 29th. Oppenheimer cut Transcat from an "outperform" rating to a "market perform" rating in a report on Wednesday, January 29th. Finally, StockNews.com downgraded Transcat from a "hold" rating to a "sell" rating in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $111.50.

Transcat Stock Performance

Shares of TRNS traded down $0.49 during mid-day trading on Tuesday, hitting $79.15. 61,822 shares of the company's stock were exchanged, compared to its average volume of 75,940. The company has a quick ratio of 1.98, a current ratio of 2.42 and a debt-to-equity ratio of 0.14. Transcat, Inc. has a 52 week low of $67.56 and a 52 week high of $147.12. The stock's 50-day simple moving average is $76.78 and its 200-day simple moving average is $92.07. The firm has a market cap of $736.81 million, a price-to-earnings ratio of 42.78 and a beta of 0.69.

Transcat Company 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.