Transcat, Inc. (NASDAQ:TRNS) Stock Position Trimmed by Bank of America Corp DE

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

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Neuberger Berman Group LLC increased its stake in shares of Transcat by 1.8% in the fourth quarter. Neuberger Berman Group LLC now owns 873,985 shares of the scientific and technical instruments company's stock worth $92,415,000 after buying an additional 15,723 shares during the last quarter. Champlain Investment Partners LLC grew its holdings in Transcat by 35.7% during the 4th quarter. Champlain Investment Partners LLC now owns 555,650 shares of the scientific and technical instruments company's stock worth $58,754,000 after acquiring an additional 146,150 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of Transcat by 178.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 518,597 shares of the scientific and technical instruments company's stock worth $54,837,000 after purchasing an additional 332,064 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Transcat by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 219,354 shares of the scientific and technical instruments company's stock valued at $23,200,000 after purchasing an additional 1,881 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Transcat by 5.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 209,200 shares of the scientific and technical instruments company's stock valued at $22,121,000 after purchasing an additional 10,186 shares in the last quarter. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Transcat Stock Performance

Shares of NASDAQ TRNS traded down $0.94 during midday trading on Friday, hitting $87.51. The company's stock had a trading volume of 106,373 shares, compared to its average volume of 82,341. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.98 and a current ratio of 2.42. Transcat, Inc. has a 1-year low of $67.56 and a 1-year high of $147.12. The firm's fifty day moving average price is $81.35 and its 200-day moving average price is $89.11. The firm has a market cap of $814.63 million, a P/E ratio of 47.30 and a beta of 0.69.

Transcat (NASDAQ:TRNS - Get Free Report) last issued its earnings results 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). The business had revenue of $77.13 million during the quarter, compared to the consensus estimate of $76.40 million. Transcat had a return on equity of 7.23% and a net margin of 6.22%. Transcat's quarterly revenue was up 8.8% compared to the same quarter last year. On average, sell-side analysts forecast that Transcat, Inc. will post 2.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TRNS has been the subject of a number of research reports. HC Wainwright reiterated a "buy" rating and issued a $116.00 price target (up from $106.00) on shares of Transcat in a research note on Wednesday, May 21st. Wall Street Zen raised Transcat from a "sell" rating to a "hold" rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $114.00.

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.