Bank of America Corp DE Cuts Stake in Transcat, Inc. (NASDAQ:TRNS)

Bank of America Corp DE reduced its holdings in shares of Transcat, Inc. (NASDAQ:TRNS - Free Report) by 29.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,613 shares of the scientific and technical instruments company's stock after selling 17,565 shares during the quarter. Bank of America Corp DE owned 0.45% of Transcat worth $4,400,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in TRNS. Barclays PLC grew its holdings in shares of Transcat by 393.0% during the third quarter. Barclays PLC now owns 15,130 shares of the scientific and technical instruments company's stock valued at $1,826,000 after buying an additional 12,061 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Transcat during the fourth quarter valued at about $182,000. Catawba River Capital grew its holdings in shares of Transcat by 2.2% during the fourth quarter. Catawba River Capital now owns 67,300 shares of the scientific and technical instruments company's stock valued at $7,116,000 after buying an additional 1,473 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Transcat by 4.1% during the fourth quarter. Rhumbline Advisers now owns 12,348 shares of the scientific and technical instruments company's stock valued at $1,306,000 after buying an additional 486 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Transcat by 8.5% during the fourth quarter. Principal Financial Group Inc. now owns 5,002 shares of the scientific and technical instruments company's stock worth $529,000 after purchasing an additional 391 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Transcat Price Performance

TRNS stock traded down $1.94 during midday trading on Monday, reaching $85.44. The company had a trading volume of 146,724 shares, compared to its average volume of 82,807. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.42 and a quick ratio of 1.98. Transcat, Inc. has a 1 year low of $67.56 and a 1 year high of $147.12. The company has a market capitalization of $796.13 million, a P/E ratio of 46.18 and a beta of 0.69. The firm has a 50-day moving average price of $81.62 and a 200-day moving average price of $88.72.

Transcat (NASDAQ:TRNS - Get Free Report) last announced its quarterly earnings data on Monday, May 19th. The scientific and technical instruments company reported $0.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.66 by ($0.02). Transcat had a net margin of 6.22% and a return on equity of 7.23%. The business had revenue of $77.13 million during the quarter, compared to analysts' expectations of $76.40 million. The firm's revenue for the quarter was up 8.8% on a year-over-year basis. On average, research analysts anticipate that Transcat, Inc. will post 2.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Transcat from a "sell" rating to a "hold" rating in a report on Wednesday, May 28th. HC Wainwright restated a "buy" rating and set a $116.00 price target (up from $106.00) on shares of Transcat in a report on Wednesday, May 21st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $114.00.

Transcat 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.