Kornitzer Capital Management Inc. KS Sells 300 Shares of Transcat, Inc. $TRNS

Kornitzer Capital Management Inc. KS lessened its holdings in shares of Transcat, Inc. (NASDAQ:TRNS) by 0.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 56,700 shares of the scientific and technical instruments company’s stock after selling 300 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Transcat were worth $4,874,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Conestoga Capital Advisors LLC raised its position in Transcat by 13.7% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,088,471 shares of the scientific and technical instruments company’s stock valued at $93,565,000 after buying an additional 131,217 shares during the last quarter. Morgan Dempsey Capital Management LLC raised its position in Transcat by 41.7% in the 2nd quarter. Morgan Dempsey Capital Management LLC now owns 1,352 shares of the scientific and technical instruments company’s stock valued at $116,000 after buying an additional 398 shares during the last quarter. Hardy Reed LLC acquired a new stake in Transcat in the 2nd quarter valued at approximately $217,000. Truist Financial Corp acquired a new stake in Transcat in the 2nd quarter valued at approximately $318,000. Finally, Riverbridge Partners LLC raised its position in Transcat by 94.3% in the 2nd quarter. Riverbridge Partners LLC now owns 440,747 shares of the scientific and technical instruments company’s stock valued at $37,887,000 after buying an additional 213,927 shares during the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.

Transcat Stock Up 1.5%

NASDAQ:TRNS opened at $79.29 on Friday. The firm has a market capitalization of $738.98 million, a price-to-earnings ratio of 55.45 and a beta of 0.70. Transcat, Inc. has a twelve month low of $67.56 and a twelve month high of $124.88. The stock’s 50 day moving average price is $76.33 and its two-hundred day moving average price is $80.38. The company has a quick ratio of 2.36, a current ratio of 2.92 and a debt-to-equity ratio of 0.11.

Transcat (NASDAQ:TRNS) last posted its quarterly earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.19. The firm had revenue of $76.42 million for the quarter, compared to analyst estimates of $72.28 million. Transcat had a return on equity of 6.66% and a net margin of 4.64%. Equities research analysts expect that Transcat, Inc. will post 2.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on TRNS shares. Northland Capmk raised Transcat from a “hold” rating to a “strong-buy” rating in a research report on Thursday. Northland Securities set a $95.00 target price on Transcat in a research report on Thursday. Weiss Ratings reissued a “hold (c-)” rating on shares of Transcat in a research report on Wednesday, October 8th. HC Wainwright reaffirmed a “buy” rating and set a $116.00 price target on shares of Transcat in a research report on Friday, August 22nd. Finally, Lake Street Capital initiated coverage on Transcat in a research report on Thursday, July 10th. They set a “buy” rating and a $105.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $114.20.

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.