Transcat, Inc. (NASDAQ:TRNS) is Broadcrest Asset Management LLC's 2nd Largest Position

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

Other large investors also recently modified their holdings of the company. KLP Kapitalforvaltning AS purchased a new position in shares of Transcat during the fourth quarter valued at about $190,000. JPMorgan Chase & Co. increased its holdings in shares of Transcat by 153.1% in the 4th quarter. JPMorgan Chase & Co. now owns 26,434 shares of the scientific and technical instruments company's stock worth $2,795,000 after buying an additional 15,991 shares during the last quarter. Geode Capital Management LLC grew its position in Transcat by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 219,354 shares of the scientific and technical instruments company's stock worth $23,200,000 after acquiring an additional 1,881 shares in the last quarter. ExodusPoint Capital Management LP purchased a new stake in Transcat during the fourth quarter valued at approximately $773,000. Finally, Wells Fargo & Company MN increased its position in shares of Transcat by 52.3% during the 4th quarter. Wells Fargo & Company MN now owns 4,259 shares of the scientific and technical instruments company's stock valued at $450,000 after purchasing an additional 1,463 shares during the last quarter. Hedge funds and other institutional investors own 98.34% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. HC Wainwright reaffirmed a "buy" rating and set a $116.00 price target on shares of Transcat in a research note on Wednesday, June 25th. Lake Street Capital initiated coverage on Transcat in a research note on Thursday, July 10th. They issued a "buy" rating and a $105.00 target price on the stock. Finally, Wall Street Zen raised shares of Transcat from a "sell" rating to a "hold" rating in a research note on Wednesday, May 28th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $112.20.

Transcat Stock Up 3.0%

Transcat stock traded up $2.28 during midday trading on Wednesday, hitting $77.92. 120,673 shares of the company's stock were exchanged, compared to its average volume of 79,270. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.87 and a current ratio of 2.29. The company has a market cap of $726.21 million, a PE ratio of 49.95 and a beta of 0.71. The firm has a 50-day moving average of $82.48 and a two-hundred day moving average of $81.25. Transcat, Inc. has a 12 month low of $67.56 and a 12 month high of $133.72.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $0.18. Transcat had a net margin of 5.21% and a return on equity of 6.47%. As a group, analysts expect that Transcat, Inc. will post 2.3 earnings per share for the current fiscal year.

Transcat 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.