Kornitzer Capital Management Inc. KS Has $4.87 Million Stock Holdings in Transcat, Inc. $TRNS

Kornitzer Capital Management Inc. KS cut its holdings in Transcat, Inc. (NASDAQ:TRNS) by 0.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 56,700 shares of the scientific and technical instruments company’s stock after selling 300 shares during the quarter. Kornitzer Capital Management Inc. KS owned approximately 0.61% of Transcat worth $4,874,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TRNS. Quantbot Technologies LP acquired a new stake in shares of Transcat in the first quarter valued at $76,000. State of Wyoming acquired a new stake in shares of Transcat in the first quarter valued at $95,000. Morgan Dempsey Capital Management LLC increased its stake in shares of Transcat by 41.7% in the second 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 in the last quarter. US Bancorp DE increased its stake 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 valued at $132,000 after buying an additional 226 shares in the last quarter. Finally, Hardy Reed LLC acquired a new stake in shares of Transcat in the second quarter valued at $217,000. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Transcat Price Performance

Shares of TRNS opened at $79.29 on Friday. Transcat, Inc. has a 1 year low of $67.56 and a 1 year high of $124.88. The company has a current ratio of 2.92, a quick ratio of 2.36 and a debt-to-equity ratio of 0.11. The stock has a market cap of $738.98 million, a P/E ratio of 55.45 and a beta of 0.70. The stock’s 50-day moving average price is $76.33 and its two-hundred day moving average price is $80.38.

Transcat (NASDAQ:TRNS) last released its quarterly earnings data on Wednesday, August 6th. The scientific and technical instruments company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.19. Transcat had a return on equity of 6.66% and a net margin of 4.64%.The business had revenue of $76.42 million for the quarter, compared to analysts’ expectations of $72.28 million. On average, equities analysts predict that Transcat, Inc. will post 2.3 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TRNS. Zacks Research upgraded Transcat from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 7th. Northland Securities set a $95.00 price target on Transcat in a report on Thursday. Northland Capmk upgraded Transcat from a “hold” rating to a “strong-buy” rating in a report on Thursday. HC Wainwright restated a “buy” rating and set a $116.00 target price on shares of Transcat in a report on Friday, August 22nd. Finally, Lake Street Capital started coverage on Transcat in a report on Thursday, July 10th. They set a “buy” rating and a $105.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $114.20.

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.