Envestnet Asset Management Inc. Sells 8,679 Shares of Transcat, Inc. (NASDAQ:TRNS)

Envestnet Asset Management Inc. trimmed its holdings in shares of Transcat, Inc. (NASDAQ:TRNS - Free Report) by 32.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,976 shares of the scientific and technical instruments company's stock after selling 8,679 shares during the period. Envestnet Asset Management Inc. owned approximately 0.19% of Transcat worth $1,901,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of TRNS. Jones Financial Companies Lllp raised its stake in shares of Transcat by 686.7% in the 4th quarter. Jones Financial Companies Lllp now owns 354 shares of the scientific and technical instruments company's stock worth $37,000 after buying an additional 309 shares in the last quarter. Morgan Dempsey Capital Management LLC acquired a new stake in Transcat in the 4th quarter valued at about $143,000. SG Americas Securities LLC bought a new position in shares of Transcat during the 4th quarter valued at about $182,000. KLP Kapitalforvaltning AS bought a new stake in shares of Transcat in the 4th quarter worth approximately $190,000. Finally, Wells Fargo & Company MN lifted its stake in Transcat by 52.3% during 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 last quarter. 98.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Transcat Stock Up 2.1 %

Shares of TRNS traded up $1.65 during midday trading on Friday, reaching $81.30. 10,722 shares of the stock were exchanged, compared to its average volume of 74,962. The company has a market cap of $756.82 million, a price-to-earnings ratio of 43.99 and a beta of 0.69. The firm has a 50 day simple moving average of $76.95 and a 200-day simple moving average of $93.36. Transcat, Inc. has a 12-month low of $67.56 and a 12-month high of $147.12. 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 (NASDAQ:TRNS - Get Free Report) last posted its earnings results on Monday, January 27th. The scientific and technical instruments company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.38 by $0.07. Transcat had a net margin of 6.22% and a return on equity of 7.23%. During the same period in the prior year, the business earned $0.56 earnings per share. Research analysts forecast that Transcat, Inc. will post 2.3 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.