Fred Alger Management LLC Buys 3,317 Shares of Transcat, Inc. $TRNS

Key Points

• Fred Alger Management LLC increased its holdings in Transcat, Inc. by 1.6%, acquiring an additional 3,317 shares, bringing its total ownership to 216,218 shares valued at approximately $16.1 million.
• A majority of Transcat's stock, about 98.34%, is owned by institutional investors, with several funds boosting their stakes in the company recently.
• Analysts generally have a positive outlook on Transcat, giving it a consensus rating of "Moderate Buy" and setting a price target of $112.20.

Fred Alger Management LLC raised its stake in shares of Transcat, Inc. (NASDAQ:TRNS - Free Report) by 1.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 216,218 shares of the scientific and technical instruments company's stock after purchasing an additional 3,317 shares during the period. Fred Alger Management LLC owned 2.32% of Transcat worth $16,097,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new stake in Transcat during the first quarter valued at approximately $76,000. State of Wyoming purchased a new stake in shares of Transcat in the first quarter worth approximately $95,000. GAMMA Investing LLC raised its holdings in shares of Transcat by 10,137.5% in the first quarter. GAMMA Investing LLC now owns 1,638 shares of the scientific and technical instruments company's stock worth $122,000 after buying an additional 1,622 shares during the period. US Bancorp DE raised its holdings in shares of Transcat by 14.6% in the first quarter. US Bancorp DE now owns 1,770 shares of the scientific and technical instruments company's stock worth $132,000 after buying an additional 226 shares during the period. Finally, ProShare Advisors LLC raised its holdings in shares of Transcat by 49.1% in the fourth quarter. ProShare Advisors LLC now owns 2,542 shares of the scientific and technical instruments company's stock worth $269,000 after buying an additional 837 shares during the period. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TRNS has been the topic of several recent analyst reports. HC Wainwright reiterated a "buy" rating and issued a $116.00 price target on shares of Transcat in a report on Friday, August 22nd. Lake Street Capital initiated coverage on Transcat in a report on Thursday, July 10th. They issued a "buy" rating and a $105.00 price target on the stock. Finally, Wall Street Zen upgraded Transcat from a "sell" rating to a "hold" rating in a report on Wednesday, May 28th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $112.20.

Transcat Trading Down 2.1%

TRNS traded down $1.59 during trading on Friday, hitting $74.82. 67,149 shares of the stock were exchanged, compared to its average volume of 109,128. The firm has a 50 day simple moving average of $81.89 and a 200 day simple moving average of $80.59. The firm has a market cap of $697.32 million, a price-to-earnings ratio of 52.32 and a beta of 0.72. Transcat, Inc. has a 1 year low of $67.56 and a 1 year high of $133.72. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.36 and a current ratio of 2.92.

Transcat (NASDAQ:TRNS - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The scientific and technical instruments company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.40 by $0.19. The company had revenue of $76.42 million for the quarter, compared to the consensus estimate of $72.28 million. Transcat had a return on equity of 6.66% and a net margin of 4.64%. As a group, equities analysts expect 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.