BlackRock Inc. Acquires Shares of 727,010 Transcat, Inc. $TRNS

Key Points

• BlackRock acquired 727,010 Transcat shares worth approximately $67.4 million, giving it a 7.77% stake. Institutional investors and hedge funds collectively own 98.34% of the company.
• Transcat exceeded quarterly expectations, reporting $0.51 in EPS versus the $0.38 consensus and revenue of $92.95 million versus $86.55 million expected. Shares opened at $85.85, compared with a one-year range of $50.23 to $100.00.
• Analyst sentiment remains cautious: the stock carries a consensus “Reduce” rating and a $95 price target, with two Hold ratings and one Sell rating.

BlackRock Inc. acquired a new position in Transcat, Inc. (NASDAQ:TRNS - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 727,010 shares of the scientific and technical instruments company's stock, valued at approximately $67,445,000. BlackRock Inc. owned 7.77% of Transcat at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wellington Management Group LLP raised its position in shares of Transcat by 677.7% during the 4th quarter. Wellington Management Group LLP now owns 248,539 shares of the scientific and technical instruments company's stock worth $14,100,000 after purchasing an additional 216,579 shares during the period. First Eagle Investment Management LLC acquired a new position in Transcat during the 4th quarter valued at approximately $7,259,000. King Luther Capital Management Corp boosted its position in Transcat by 182.3% during the 4th quarter. King Luther Capital Management Corp now owns 103,750 shares of the scientific and technical instruments company's stock valued at $5,886,000 after purchasing an additional 67,000 shares during the period. Rice Hall James & Associates LLC bought a new position in Transcat during the 2nd quarter worth $5,225,000. Finally, Royce & Associates LP grew its stake in Transcat by 15.3% during the 4th quarter. Royce & Associates LP now owns 390,546 shares of the scientific and technical instruments company's stock worth $22,156,000 after buying an additional 51,774 shares during the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Craig D. Cairns purchased 1,050 shares of the firm's stock in a transaction on Thursday, August 6th. The shares were bought at an average cost of $93.97 per share, for a total transaction of $98,668.50. Following the transaction, the director directly owned 1,480 shares of the company's stock, valued at approximately $139,075.60. This trade represents a 244.19% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Christopher P. Gillette sold 504 shares of the company's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $94.23, for a total value of $47,491.92. Following the completion of the transaction, the director directly owned 200 shares of the company's stock, valued at approximately $18,846. This trade represents a 71.59% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.80% of the stock is owned by insiders.

Transcat Stock Performance

Shares of NASDAQ TRNS opened at $85.85 on Monday. The business's 50-day moving average price is $89.90 and its two-hundred day moving average price is $82.53. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.49 and a quick ratio of 2.11. Transcat, Inc. has a one year low of $50.23 and a one year high of $100.00. The company has a market capitalization of $803.56 million, a P/E ratio of 232.03 and a beta of 0.68.

Transcat (NASDAQ:TRNS - Get Free Report) last posted its earnings results on Tuesday, August 4th. The scientific and technical instruments company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.38 by $0.13. Transcat had a net margin of 0.99% and a return on equity of 5.56%. The company had revenue of $92.95 million during the quarter, compared to the consensus estimate of $86.55 million. Analysts anticipate that Transcat, Inc. will post 1.74 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Weiss Ratings reiterated a "sell (d+)" rating on shares of Transcat in a research report on Tuesday, August 25th. Zacks Research upgraded shares of Transcat from a "strong sell" rating to a "hold" rating in a research note on Friday, May 15th. Northland Securities cut Transcat from an "outperform" rating to a "market perform" rating and set a $95.00 price target on the stock. in a report on Wednesday, August 5th. Finally, Wall Street Zen raised Transcat from a "sell" rating to a "hold" rating in a report on Sunday, June 28th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus price target of $95.00.

Transcat Company Profile

Transcat, Inc NASDAQ: TRNS is a leading provider of calibration, laboratory, and metrology services in North America. Founded in 1964 and headquartered in Ronkonkoma, New York, the company specializes in ensuring the accuracy and compliance of measurement instruments across a wide range of industries. Transcat operates a network of ISO/IEC 17025–accredited laboratories and offers on-site field calibration, instrument repair, and preventive maintenance services.

In addition to its calibration services, Transcat distributes precision instrumentation and related software solutions from top manufacturers.

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