Transcat, Inc. (NASDAQ:TRNS) Shares Sold by Broadcrest Asset Management LLC

Key Points

• Broadcrest Asset Management LLC has reduced its stake in Transcat, Inc. by 23.9%, holding 228,308 shares valued at approximately $17 million.
• Transcat's stock opened at $75.64 with a market cap of $704.96 million and is experiencing a price-to-earnings ratio of 48.49.
• Despite reporting earnings of $0.64 EPS for the last quarter, Transcat fell short of analyst expectations by <$0.02>, while revenue increased by 8.8% year-over-year.

Broadcrest Asset Management LLC lessened its position in Transcat, Inc. (NASDAQ:TRNS - Free Report) by 23.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 228,308 shares of the scientific and technical instruments company's stock after selling 71,692 shares during the period. Transcat accounts for about 32.3% of Broadcrest Asset Management LLC's portfolio, making the stock its 2nd biggest holding. Broadcrest Asset Management LLC owned about 2.45% of Transcat worth $16,998,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Aquatic Capital Management LLC increased its stake in shares of Transcat by 1,052.0% in the fourth quarter. Aquatic Capital Management LLC now owns 1,152 shares of the scientific and technical instruments company's stock valued at $122,000 after buying an additional 1,052 shares during the period. GAMMA Investing LLC increased its stake 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 valued at $122,000 after buying an additional 1,622 shares during the period. 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 during the period. KLP Kapitalforvaltning AS acquired a new stake in Transcat during the fourth quarter worth approximately $190,000. Finally, ProShare Advisors LLC grew its stake in Transcat by 49.1% during the fourth quarter. ProShare Advisors LLC now owns 2,542 shares of the scientific and technical instruments company's stock worth $269,000 after purchasing an additional 837 shares during the period. Institutional investors and hedge funds own 98.34% of the company's stock.

Transcat Trading Down 1.0%

NASDAQ TRNS traded down $0.83 during trading hours on Friday, hitting $79.18. 100,107 shares of the company's stock were exchanged, compared to its average volume of 84,370. The company has a current ratio of 2.92, a quick ratio of 1.87 and a debt-to-equity ratio of 0.11. Transcat, Inc. has a 1-year low of $67.56 and a 1-year high of $133.72. The stock has a 50-day simple moving average of $81.91 and a 200 day simple moving average of $80.91. The firm has a market cap of $737.96 million, a price-to-earnings ratio of 55.37 and a beta of 0.71.

Transcat (NASDAQ:TRNS - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The scientific and technical instruments company reported $0.59 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.19. Transcat had a return on equity of 6.66% and a net margin of 4.64%. The firm had revenue of $76.42 million during the quarter, compared to analysts' expectations of $72.28 million. On average, equities analysts forecast that Transcat, Inc. will post 2.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TRNS. Lake Street Capital began coverage on Transcat in a research note on Thursday, July 10th. They set a "buy" rating and a $105.00 target price for the company. Wall Street Zen raised Transcat from a "sell" rating to a "hold" rating in a research note on Wednesday, May 28th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $116.00 target price on shares of Transcat in a research note on Wednesday, June 25th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $112.20.

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.